Founded in 2004, Sim-Industries develops and manufactures civil aviation flight simulators for both airline customers and independent pilot training centers.
“This acquisition demonstrates Lockheed Martin’s commitment to expand in adjacent markets with strong, long-term growth prospects that build on our core capabilities,” said Lockheed Chairman and CEO Bob Stevens. “The combination of Sim-Industries with our military simulation business will provide airlines, civil pilot training centers and military customers access to training systems that can be provided more quickly and with lower operating costs.”
“Sim-Industries has established itself as a leader in the simulation business with an innovative product design, development and manufacturing process that reflects the quality of its leadership and employees,” he added.
The terms of the agreement were not disclosed.