Sikorsky On Track For Sustained Growth

Sikorsky Aircraft Corporation has products and services positioned for sustained growth in the long term, with a goal to double revenues by the end of the decade, according to company President Dean C. Borgman. Sikorsky Aircraft is a subsidiary of United Technologies Corp.

Speaking to a London meeting of United Technologies Corp. analysts and investors, Borgman outlined a broad range of company initiatives that he said are expected to drive top line growth over the long term. "We have an extremely strong franchise and our products are well positioned," Borgman said. "This goal is aggressive, but achievable."

On the product side, Borgman said several branches of the US military plan to increase their rotorcraft investments this decade. This includes the US Army's plans to begin remanufacturing approximately 1,200 BLACK HAWK transport helicopters to the UH-60M configuration, "extending the life of this military workhorse for at least another couple of decades," Borgman said.

Other expected growth programmes cited by Borgman include the MH-60R and MH-60S programmes for the US Navy; a modernisation programme for the US Marine Corps' fleet of heavy-lift CH-53E aircraft, and the Boeing-Sikorsky collaboration to design and build more than 1,200 armed reconnaissance RAH-66 Comanche helicopters. Borgman also noted the recent growth in Sikorsky's World-wide Customer Service (WCS) business, which earlier this year completed the acquisition of Derco Holdings, a military fixed-wing logistics, overhaul and repair provider. Borgman reaffirmed his long-stated goal that Sikorsky would achieve annualised service revenues of $1 billion by the end of 2003.

The meeting with analysts was held in London to coincide with the biannual aerospace industry show at Farnborough.

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