EDGEWOOD, N.Y., July 07, 2026 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®" or the "Company") (NYSE American: CVU) announced that it has received multiple purchase orders totaling $8.3 million under a previously announced Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Air Force to provide structural modification kits, program management, logistics, and other sustainment services in support of Phase 3 of the T-38C Pacer Classic III Fuselage Structural Modification Kit Integration program ("PCIII") and the Talon Repair Inspection and Maintenance ("TRIM") program.
With these latest awards, the total funded value of the contract has increased to $69 million, supporting kit deliveries throughout the current funded period of performance, which extends through 2028.
For more than six decades, the Northrop T-38 Talon has served as the U.S. Air Force's premier supersonic jet trainer, preparing generations of military aviators for advanced fighter and bomber aircraft. Of the more than 1,200 T-38s originally built, fewer than 500 remain in service with the U.S. Air Force and NASA, making structural sustainment programs essential to maintaining the fleet's operational readiness.
The Pacer Classic III program is a comprehensive structural life-extension initiative designed to increase the aircraft's service life by an additional 10,000 flight hours. Complementing this effort, the TRIM program focuses on inspecting and strengthening the aircraft's highest-risk fatigue areas-including longerons, bulkheads, and other critical fuselage structures. Together, these modernization efforts are extending the operational life of the T-38 fleet well into the 2030s, ensuring it continues to support the Air Force's pilot training mission.
"The T-38 remains a cornerstone of the Air Force's pilot training mission, and we're proud that our structural kits help keep these aircraft mission-ready for the next generation of Air Force aviators," said Dorith Hakim, President and Chief Executive Officer of CPI Aero. "These latest awards underscore the Air Force's continued confidence in CPI Aero's ability to deliver high-quality structural solutions that enhance aircraft safety, extend fleet service life, and support the readiness of America's warfighters."
About CPI Aero
CPI Aero is a prime contractor to the U.S. Department of Defense as well as a Tier 1 subcontractor to some of the largest aerospace and defense contractors in the world. CPI Aero provides engineering, program management, supply chain management, assembly operations and MRO services to this global network of customers. CPI Aero is recognized as a leader within the international aerospace market in such areas as aircraft structural assemblies, military advanced tactical pod structures, engine air inlets, and complex welded products.
Our OEM customers in the defense sector include (i) Lockheed Martin Corporation and Sikorsky Aircraft, for the F-16 Fighting Falcon, the UH-60 BLACK HAWK©, the MH-60 Seahawk, the CH-53E and the CH-53K King Stallion; (ii) RTX Corporation, formerly Raytheon, for the ALQ-249 Next Generation Jammer Mid-Band Pod for the EA-18G Growlers, the Advanced Tactical Pods, the MS-110 & TacSAR Reconnaissance Airborne Pods, Hypersonic Missile Wings, and B-52 Radar Modernization; (iii) L3Harris for the Next Generation Jammer Low-Band Pod for the EA-18G Growlers; (iv) Collins Aerospace, for RF Enclosures; (v) Northrop Grumman Corporation, for the E-2D Advanced Hawkeye, the Airborne Laser Mine Detection Pod, welded tubes, aerial refueling probes, and welded fluid tanks; and (vi) the DOD/USAF and the Defense Logistics Agency for the T-38 Pacer Classic and T-38 Talon. Our OEM customers in the civil aviation market include Embraer S.A. for the Phenom 300 and Phenom 100.
Our funded backlog of remaining performance obligations exceeds $95 million and the unfunded backlog of future orders for the expected duration of existing programs is $400 million. Our total backlog is $495 million.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this press release are forward-looking statements including statements regarding the Company's backlog, future performance, and other future events or expectations. The Company does not guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the Company's forward-looking statements.
Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by its forward-looking statements, including, among others, the important factors set forth under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission. Although the Company may elect to do so at some point in the future, the Company does not assume any obligation to update any forward-looking statements and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on X @CPIAERO.
Contacts:
| Investor Relations Counsel | CPI Aerostructures, Inc. |
| Alliance Advisors IR | Robert Mannix |
| Jody Burfening | Chief Financial Officer |
| (212) 838-3777 | (631) 586-5200 |
| cpiaero@allianceadvisors.com | rmannix@cpiaero.com |
| www.cpiaero.com | |
