Sikorsky provides early challenge for Lockheed
Lockheed Martin executives predict a sharp fall in commercial helicopter sales due to the poor state of the oil and gas market.
Following the company’s acquisition of Sikorsky in 2015, the outlook for the commercial helicopter sector does not look favourable with $375 million in sales predicted in 2016 compared to $1.5 billion two years ago.
‘OEM sales for commercial helos had peaked at about roughly $1.5 billion [in 2014]... because of the oil and gas pressures, we thought 2016 would probably half that number,' Bruce Tanner, Chief Financial Officer at Lockheed Martin told analysts.
'As it turns out, our
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