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Article: United States: Struggling Textron finds success with drone planes.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: kusumv03
As the traditional revenue engine of Textron Inc. experiences a stall, sales of military drone planes sold under the company s Wilmington-based aerospace and defense unit are flying high.
Textron Systems Inc., which produces products from guided missiles to armored military transporters, posted a $61 million year-over-year jump in revenue to $502 million in the third quarter as its parent company saw revenue plunge 27 percent to $2.55 billion. Sales from its marquee Cessna aircraft segment dropped 40 percent.
Much of Textron Systems growth came from the military s insatiable appetite for its unmanned aerial systems drone planes ...