Orbit International Corp. Electronics Group Receives New Contract Valued in Excess of $2,500,000
Contract Received by SPS Subsidiary
HAUPPAUGE, N.Y., June 21, 2023 (GLOBE NEWSWIRE) — Orbit International Corp. (OTC Expert Market: ORBT), an electronics manufacturer and software solution provider, today announced that its Simulator Product Solutions LLC subsidiary (“SPS”), a part of Orbit’s Electronics Group (“OEG”), received a new contract valued in excess of $2,500,000. Deliveries under the contract are expected to begin in the third quarter of this year and continue through 2025.
Expanding Opportunities
This contract represents a significant milestone for SPS and the Electronics Group, solidifying their position as a key player in the defense and aerospace industries. With a focus on delivering cutting-edge simulator products and solutions, SPS is well-positioned to meet the evolving needs of its customers and drive growth for Orbit International Corp.
“We are thrilled to announce this new contract award for our SPS subsidiary,” said William E. Griffith, President and CEO of Orbit International Corp. “This is a testament to the hard work and dedication of our team, as well as the quality and innovation of our products. We look forward to fulfilling our customer’s requirements and continuing to expand our presence in the market.”
Impact on Innovation
By securing this new contract, SPS has the opportunity to further enhance its capabilities and develop new technologies that will drive innovation in the simulation and training industry. This investment in research and development will not only benefit SPS and Orbit International Corp., but also contribute to advancements in simulation technology on a larger scale.
Future Growth and Collaboration
As SPS continues to deliver high-quality products and exceptional service to its customers, this new contract sets the stage for future growth and collaboration within the Electronics Group. By leveraging its expertise in simulator products and solutions, SPS is well-positioned to capitalize on emerging opportunities in the defense and aerospace sectors and strengthen its position in the market.
How Will This Affect Me?
As a consumer, you may not see a direct impact from this contract award. However, the success of SPS and the Electronics Group could lead to advancements in simulator technology that improve training programs for military personnel and enhance safety measures in the aerospace industry.
How Will This Affect the World?
The new contract received by SPS has the potential to drive innovation and advancements in simulation technology that could benefit industries beyond defense and aerospace. By pushing the boundaries of what is possible in simulator products and solutions, SPS and Orbit International Corp. are contributing to the global landscape of technology and training.
Conclusion
The new contract valued in excess of $2,500,000 received by SPS is a testament to the company’s dedication to providing cutting-edge simulator products and solutions. This milestone not only solidifies SPS’s position in the defense and aerospace industries but also sets the stage for future growth, collaboration, and innovation within the Electronics Group. As SPS continues to push the boundaries of simulation technology, the impact of this contract award will be felt both at a consumer level and on a global scale.
