Eaton Corporation, led by Black CEO Craig Arnold, has landed a $1.3 billion contract with Bell Textron to deliver essential hydraulic systems for the US Army’s next-generation helicopter, the Future Long-Range Assault Aircraft (FLRAA).
This major agreement solidifies Eaton’s decade-long collaboration with Bell on the FLRAA initiative. The company will offer hydraulic power generation and conveyance components for the aircraft, as well as oil swivels, hydraulic panels, and maintenance-free accumulators.
“We are thrilled to continue collaborating with Bell and the FLRAA team,” says Nanda Kumar, president of Eaton’s Aerospace Group. “Our proven technologies will be instrumental in achieving the performance goals of this advanced aircraft.”
The grant establishes Eaton as a significant partner in the development of the FLRAA, a cutting-edge military helicopter program aimed at replacing the US Army’s Black Hawk by 2030. This award adds to Eaton’s substantial experience supporting the FLRAA program through system design, analysis, component development, and flight testing.
Analysts believe that the whole market for this next-generation helicopter will be worth between $60 billion and $90 billion, allowing Bell Textron, the prime contractor, and Eaton to gain for decades to come.
“This contract is a testament to Eaton’s leadership in aerospace hydraulic solutions,” the firm said in a statement. “Our commitment to innovation ensures we can deliver critical systems for the most important military aircraft.”
Eaton has reached key financial milestones under Arnold’s leadership since he took over as CEO in June 2016. The corporation recorded $23.2 billion in revenue for fiscal year 2023, a 10.34% increase over the previous year.
Aside from his management and governance duties, Arnold owns a small 0.13 percent ownership in Eaton Corporation, which equates to 514,998 ordinary shares. This share is worth more than $150 million, demonstrating his strong belief in the company’s long-term success.