Mick Maurer, president of United Technologies Corp. subsidiary, Sikorsky Aircraft Corp. recently announced the company is actively pursuing foreign contracts to offset a decline in U.S. military spending, Reuters reports.
The move follows Congress’ agreement with the White House to cut defense spending by around $480 billion throughout the next 10 years.
The Stratford, Conn.-based firm currently has a backlog of orders from Brazil, India, Turkey, China, Mexico, Australia, Taiwan and Saudi Arabia, however, the majority of them are not slated for delivery until 2014, according to Reuters.
Reports show commercial and aftermarket sales now constitute 30 percent of Sikorsky’s annual revenues; while military sales dominate the remaining 70 percent.
In the meantime, the company will rely on existing contracts with U.S. Army, Navy, and Air Force to deliver Black Hawk helicopters as a means to generate revenue.
Maurer recently told Reuters the company is in the process of working out a potential $7.3 billion contract with the Pentagon to provide UH-60 Black Hawk helicopters throughout the next three years
The company also said it is currently collaborating with the Canadian government to assemble 28 new Cyclone maritime helicopters as a replacement for their Sea Kings fleet, Reuters reports.