Embraer Secures Deal for Six A-29 Super Tucano Multi-Mission Aircraft

Embraer S.A. ERJ recently received a contract from an unnamed client to provide six light-attack and advanced trainer A-29 Super Tucano Aircraft. The delivery of this order is planned for 2026 and is added to the company's backlog for the fourth quarter of 2024.More About Embraer’s A-29 Super Tucano Aircraft The A-29 Super Tucano is a high-precision attack aircraft with excellent weapon matching and target recognition accuracy. It is also the only aircraft in its class with an internal machine gun that can release all five pylons for use with other armaments and has more than 160 configuration options. It is extensively utilized for border monitoring, reconnaissance and training.Embraer’s A-29 Super Tucano is recognized globally for its multi-mission capabilities, combining cost-effectiveness, advanced technology and reliable performance. The aircraft has a simple maintenance concept and can operate in harsh conditions, making it the ideal choice for nations looking to enhance their air defense capabilities. With more than 570,000 flight hours, including 60,000 in combat and more than 290 orders, the A-29 Super Tucano is a leader in its class.Due to such remarkable features, Embraer must have witnessed a steady inflow of orders for this jet model. The recent order is a bright example of that.ERJ’s Growth Prospects Nations are strengthening their military capabilities in response to the expanding threat environment. Military aircraft play an important part in military operations, boosting demand for military aircraft. This is likely to have led the Mordor Intelligence firm to predict that the military aviation market will witness a CAGR of 5.2% during the 2024-2030 period.Such projections indicate significant growth opportunities for leading combat jet manufacturers like Embraer, whose aircraft, such as the P600 AEW&C and C-390 Millennium, are deployed in various high-profile military operations.Opportunities for Other Defense Companies Other defense companies that are likely to reap the benefits of the military aviation market are as follows:Northrop Grumman Corp. NOC: It is a leading provider of manned and unmanned combat jets. It builds some of the world’s most advanced aircraft, like the E-2C Hawkeye 2000, A-10 Thunderbolt II, and many more.Northrop has a long-term (three to five years) earnings growth rate of 19.1%. The Zacks Consensus Estimate for NOC’s 2024 sales calls for an improvement of 5.3% from the prior-year reported figure.Lockheed Martin Corp. LMT: The company is among the leaders in the combat aircraft space, with its product portfolio constituting some of the most advanced military aircraft, like the F-35 Lightning II, C-130 J Super Hercules and F-16 Fighting Falcon, among others.Lockheed boasts a long-term earnings growth rate of 4.6%. The Zacks Consensus Estimate for LMT’s 2024 sales suggests an improvement of 5.5% from the prior-year reported figure.The Boeing Company BA: The company offers a comprehensive portfolio of the most advanced aircraft in the combat market, which includes F/A-18 Super Hornet, P-8, C-17 Globemaster III, CH-47 Chinook, Chinook Block II, F-15EX and a few more.Boeing boasts a long-term earnings growth rate of 19.3%. The Zacks Consensus Estimate for BA’s 2025 sales indicates an improvement of 22.5%.ERJ Stock Price Movement In the past six months, shares of Embraer have risen 39.8% against the industry’s decline of 1%.Image Source: Zacks Investment ResearchERJ’s Zacks Rank Embraer currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report Embraer-Empresa Brasileira de Aeronautica (ERJ): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks