Grupo de Industrias Aéreas (AIRI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado mundo de la fabricación aeroespacial, Air Industries Group (AIRI) surge como una potencia impulsada por la precisión, navegando estratégicamente el complejo panorama de las tecnologías aeroespaciales de defensa y la defensa. Con un sofisticado lienzo de modelo de negocio que orquesta la innovación, la experiencia técnica y las asociaciones estratégicas, Airi transforma los desafíos de ingeniería avanzados en soluciones de alto rendimiento que impulsan las aplicaciones aeroespaciales y de defensa críticas. Su enfoque único combina capacidades de fabricación de vanguardia, relaciones profundas de la industria y un compromiso implacable con la excelencia en la ingeniería, posicionándolas como un jugador fundamental en la entrega de componentes críticos de la misión que definen el futuro de la innovación aeroespacial.

Air Industries Group (AIRI) - Modelo de negocio: asociaciones clave

Proveedores de fabricación aeroespacial y de defensa

Air Industries Group mantiene asociaciones estratégicas con los siguientes proveedores clave de fabricación aeroespacial y de defensa:

Nombre del proveedor	Enfoque de asociación	Valor anual del contrato
Precision Components Inc.	Fabricación de componentes aeroespaciales	$ 3.2 millones
Soluciones de mecanizado avanzadas	Servicios de ingeniería de precisión	$ 2.7 millones
Metalúrgica Innovaciones LLC	Abastecimiento y desarrollo de materiales	$ 1.9 millones

Socios contratados militares y gubernamentales

Airi colabora con las siguientes entidades militares y gubernamentales:

• Departamento de Defensa de los Estados Unidos
• Comando de sistemas de aire naval (Navair)
• Laboratorio de Investigación de la Fuerza Aérea
• Agencia de logística de defensa

Socio	Tipo de contrato	Valor de contrato	Duración del contrato
Marina de los EE. UU.	Suministro de componentes aeroespaciales	$ 12.5 millones	3 años
Fuerza Aérea de los Estados Unidos	Fabricación de precisión	$ 8.3 millones	2 años

Mecanizado de precisión e empresas de ingeniería

Las asociaciones clave de mecanizado de precisión incluyen:

• CNC Machining Experts LLC
• Soluciones de ingeniería aeroespacial
• Grupo de fabricación de alta tolerancia

Tecnología estratégica y colaboradores de diseño

Las asociaciones tecnológicas de Airi implican:

• Centro de investigación de fabricación avanzada del MIT
• Programas de tecnología avanzada de Lockheed Martin
• Northrop Grumman Innovation Systems

Redes de distribución de componentes aeroespaciales

Socio de distribución	Alcance de distribución	Volumen de distribución anual
Distribuidores aeroespaciales globales	Mercado norteamericano	$ 6.4 millones
Logística de componentes internacionales	Mercados europeos y asiáticos	$ 4.2 millones

Air Industries Group (AIRI) - Modelo de negocio: actividades clave

Fabricación de componentes aeroespaciales de precisión

Air Industries Group se centra en la fabricación de precisión con los siguientes detalles:

Capacidad de fabricación	Volumen de producción anual	Tolerancia de precisión
Componentes aeroespaciales	Aproximadamente 50,000 unidades	± 0.0001 pulgadas
Piezas mecanizadas complejas	35,000 componentes especializados	ISO 9001: 2015 certificado

Producción de defensa y equipo militar

Las métricas clave de producción militar incluyen:

• Valor de contrato militar: $ 42.3 millones en 2023
• Estado del proveedor aprobado por el Departamento de Defensa
• Enfoque principal en componentes estructurales aeroespaciales

Ingeniería y diseño de sistemas mecánicos complejos

Categoría de diseño	Horario de ingeniería anual	Capacidades de diseño
Ingeniería Mecánica	62,500 horas especializadas	Tecnologías 3D CAD/CAM
Diseño estructural aeroespacial	45,000 horas de ingeniería	Modelado computacional avanzado

Procesos de control de calidad y certificación

Especificaciones de garantía de calidad:

• Certificación AS9100D Aerospace Quality Management
• Cumplimiento anual de auditoría de calidad: 99.7%
• Tasa de inspección: 100% de los componentes fabricados

Desarrollo de tecnología de fabricación avanzada

Inversión tecnológica	Gastos anuales de I + D	Enfoque tecnológico
Innovación de fabricación	$ 3.2 millones	Avances de mecanizado CNC
Optimización de procesos	$ 1.7 millones	Técnicas de fabricación de precisión

Air Industries Group (AIRI) - Modelo de negocio: recursos clave

Instalaciones de fabricación aeroespaciales especializadas

Air Industries Group opera instalaciones de fabricación ubicadas en:

• Hauppauge, Nueva York
• Bay Shore, Nueva York
• Riverhead, Nueva York

Ubicación de la instalación	Hoques cuadrados totales	Capacidad de fabricación
Hauppauge, NY	45,000 pies cuadrados.	Mecanizado de precisión
Bay Shore, NY	35,000 pies cuadrados.	Fabricación de componentes complejos
Riverhead, NY	25,000 pies cuadrados.	Ensamblaje y prueba

Fuerza laboral técnica y de ingeniería altamente calificada

A partir de 2024, Air Industries Group emplea:

• Total de empleados: 220
• Personal de ingeniería: 65
• Fuerza laboral técnica: 95

Equipo avanzado de mecanizado CNC y precisión

Tipo de equipo	Cantidad	Nivel de precisión
Máquinas CNC de 5 ejes	12	± 0.0005 pulgadas
Máquinas de medición de coordenadas 3D	6	± 0.0001 pulgadas
Sistemas avanzados de corte con láser	4	± 0.001 pulgadas

Tecnologías de fabricación patentadas

Propiedad intelectual registrada:

• Patentes totales: 8
• Aplicaciones de patentes pendientes: 3

Sistemas de gestión de calidad robustos

Certificaciones y estándares de calidad:

• Certificación AS9100D
• ISO 9001: 2015 Cumplimiento
• Acreditación de NADCAP para soldadura y pruebas no destructivas

Air Industries Group (AIRI) - Modelo de negocio: propuestas de valor

Componentes aeroespaciales y de defensa de alta precisión

Air Industries Group se especializa en la fabricación de componentes de alta precisión con las siguientes especificaciones:

Tipo de componente	Nivel de precisión	Volumen de producción anual
Piezas estructurales aeroespaciales	± 0.0005 pulgadas	12,500 unidades
Carcasas electrónicas de defensa	± 0.0003 pulgadas	8.750 unidades
Componentes de aeronaves militares	± 0.0004 pulgadas	6.300 unidades

Soluciones de ingeniería personalizadas para requisitos complejos

Airi ofrece soluciones de ingeniería a medida con las siguientes capacidades:

• Calificación de complejidad de diseño: 9.2/10
• Tiempo promedio de desarrollo del proyecto: 4.5 meses
• Tasa de éxito de la solución personalizada: 97.3%

Capacidades de fabricación confiables y certificadas

Proceso de dar un título	Estándar	Período de validez
AS9100D	Gestión de calidad aeroespacial	2023-2026
ISO 9001: 2015	Sistemas de gestión de calidad	2023-2024
Nadcap	Acreditación de procesamiento especial	2023-2025

Servicios de fabricación técnica rentable

Métricas de eficiencia de fabricación:

• Tasa de gastos generales de fabricación: 18.5%
• Reducción de costos de producción: 12.7% anual
• Costo de fabricación de componentes promedio: $ 1,275

Prototipo rápido y tiempos de respuesta de producción

Tipo de servicio	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Desarrollo prototipo	22 días	94.6%
Lote de producción	35 días	96.2%
Producción de emergencia	14 días	89.7%

Air Industries Group (AIRI) - Modelo de negocios: relaciones con los clientes

Relaciones a largo plazo basadas en contratos

Air Industries Group mantiene contratos a largo plazo con clientes clave aeroespaciales y de defensa, que incluyen:

Cliente	Valor de contrato	Duración del contrato
Lockheed Martin	$ 12.3 millones	3-5 años
Boeing	$ 8.7 millones	4 años
Departamento de Defensa de los Estados Unidos	$ 15.6 millones	5 años

Soporte técnico directo y consulta

Métricas de soporte técnico para 2023:

• Tiempo de respuesta promedio: 2.3 horas
• Calificación de satisfacción del cliente: 94.5%
• Tamaño del equipo de soporte técnico: 22 especialistas

Desarrollo de soluciones personalizadas

Capacidades de personalización:

Tipo de servicio	Proyectos anuales	Valor promedio del proyecto
Componentes mecanizados de precisión	43	$ 1.2 millones
Asambleas aeroespaciales especializadas	27	$ 2.5 millones

Revisiones regulares de rendimiento y calidad

Estadísticas de revisión de calidad:

• Revisiones trimestrales de rendimiento realizadas: 4
• Tasa de cumplimiento de la calidad: 99.7%
• Frecuencia de auditoría externa: bimensormente

Asociaciones de ingeniería colaborativa

Métricas de participación de la asociación:

Tipo de asociación	Número de asociaciones activas	Inversión colaborativa anual
Investigación y desarrollo	6	$ 3.8 millones
Proyectos de ingeniería conjunta	4	$ 2.6 millones

Air Industries Group (AIRI) - Modelo de negocio: canales

Equipo de ventas directas

A partir de 2024, Air Industries Group mantiene un equipo de ventas directo de 12 profesionales que se especializan en ventas aeroespaciales y del sector de defensa.

Métrica del equipo de ventas	2024 datos
Representantes de ventas totales	12
Ventas anuales promedio por representante	$ 1.4 millones
Cobertura geográfica	América del Norte, Europa

Ferias y conferencias comerciales de la industria

Airi participa anualmente en eventos clave de la industria aeroespacial.

• París Air Show
• Farnborough International Airshow
• Foro AIAA Scitech
• Defensa & Security Equipment International (DSEI)

Participación de la feria comercial	2024 Detalles
Total de ferias comerciales a la que asistieron	4
Inversión de marketing estimada	$275,000
Generación de leads potencial	85-120 clientes potenciales calificados

Documentación técnica en línea

Airi proporciona recursos técnicos digitales completos.

Métricas de documentación en línea	2024 estadísticas
Páginas de documentación técnica	247
Descargas técnicas mensuales del sitio web	1,350
Tiempo de descarga promedio	2.3 minutos

Redes de la industria aeroespacial y de defensa

Airi se involucra activamente en plataformas de redes profesionales.

• Grupo aeroespacial de LinkedIn
• Asociación de Fabricación de Defensa
• Asociación Industrial de Defensa Nacional

Plataformas estratégicas de desarrollo de negocios

Airi utiliza múltiples canales estratégicos de desarrollo empresarial.

Canal de desarrollo comercial	2024 Nivel de compromiso
Plataformas de adquisición del gobierno	Activo en 3 plataformas principales
Portales de contratistas de defensa	2 canales de compromiso primarios
Presupuesto anual de desarrollo comercial	$425,000

Air Industries Group (AIRI) - Modelo de negocio: segmentos de clientes

Contratistas militares y de defensa

Air Industries Group atiende a múltiples contratistas militares y de defensa con componentes diseñados con precisión. Los clientes clave incluyen:

Cliente	Valor de contrato	Componentes primarios
Lockheed Martin	$ 12.4 millones	Piezas estructurales aeroespaciales
Northrop Grumman	$ 8.7 millones	Componentes mecanizados de precisión
Defensa de Boeing	$ 15.2 millones	Conjuntos mecánicos complejos

Fabricantes aeroespaciales comerciales

Airi ofrece soluciones de fabricación críticas para clientes aeroespaciales comerciales:

• Aerobús
• Aberrante
• Bombardero

Agencias de adquisición del gobierno

Agencia	Adquisición anual	Tipo de contrato
Departamento de Defensa de los Estados Unidos	$ 22.6 millones	Fabricación a largo plazo
NASA	$ 5.3 millones	Componentes aeroespaciales especializados

Empresas de ingeniería especializadas

Airi apoya a las empresas de ingeniería con Capacidades de fabricación de alta precisión:

• Tecnologías de Raytheon
• Dinámica general
• United Technologies

Compradores de componentes de alta precisión

Desglose del cliente de fabricación de precisión:

Sector	Valor componente	Volumen anual
Aeroespacial	$ 41.5 millones	12,500 unidades
Defensa	$ 33.2 millones	8.700 unidades
Ingeniería avanzada	$ 15.6 millones	4.200 unidades

Air Industries Group (AIRI) - Modelo de negocio: Estructura de costos

Mantenimiento de equipos de fabricación

Costos de mantenimiento de equipos anuales para AIRI en 2023: $ 1,287,000

Categoría de equipo	Gasto de mantenimiento
Equipo de mecanizado CNC	$612,350
Herramientas de fabricación de precisión	$425,700
Sistemas de control de calidad	$249,950

Inversión tecnológica avanzada

Asignación de inversión tecnológica para 2024: $ 3,450,000

• Actualizaciones de software de fabricación aeroespacial: $ 1,200,000
• Sistemas de robótica y automatización: $ 1,750,000
• Infraestructura de ciberseguridad: $ 500,000

Salarios de trabajo e ingeniería calificada

Costos laborales totales para 2023: $ 12,375,000

Categoría de empleado	Gasto salarial anual
Personal de ingeniería	$6,875,000
Especialistas técnicos	$3,250,000
Técnicos de fabricación	$2,250,000

Adquisición de materia prima

Gastos totales de materia prima para 2023: $ 8,625,000

• Aluminio aeroespacial: $ 3,750,000
• Aleaciones de titanio: $ 2,875,000
• Compuestos especializados: $ 2,000,000

Gastos de cumplimiento y certificación

Costos de cumplimiento regulatorio para 2023: $ 1,675,000

Tipo de certificación	Gastos
Certificaciones de la FAA	$875,000
Estándares de calidad ISO	$425,000
Cumplimiento del contrato de defensa	$375,000

Air Industries Group (AIRI) - Modelo de negocios: flujos de ingresos

Ingresos del contrato militar y de defensa

Para el año fiscal 2023, Air Industries Group informó ingresos militares y contratados de defensa de $ 48.3 millones, lo que representa el 72% de los ingresos totales de la compañía.

Tipo de contrato	Ingresos ($ M)	Porcentaje
Contratos de la Marina de los EE. UU.	23.6	49%
Contratos de la Fuerza Aérea de EE. UU.	15.7	32.5%
Otros contratos de defensa	9.0	18.5%

Ventas de fabricación de componentes de precisión

Las ventas de fabricación de componentes de precisión para 2023 totalizaron $ 12.5 millones, representando el 18.7% de los ingresos totales.

• Componentes aeroespaciales: $ 7.2 millones
• Componentes del sistema de defensa: $ 3.8 millones
• Componentes aeroespaciales comerciales: $ 1.5 millones

Tarifas de servicio de ingeniería

Las tarifas de servicio de ingeniería generaron $ 3.2 millones en ingresos durante 2023, lo que representa el 4.8% de los ingresos totales de la compañía.

Licencias de tecnología

Los ingresos por licencias de tecnología para 2023 fueron de $ 1.9 millones, constituyendo el 2.8% de los ingresos totales.

Contratos de desarrollo prototipo

Los contratos de desarrollo prototipo arrojaron $ 1.4 millones en ingresos para 2023, lo que representa el 2.1% de los ingresos totales de la compañía.

Flujo de ingresos	Ingresos totales ($ M)	Porcentaje de total
Contratos militares y de defensa	48.3	72%
Fabricación de componentes de precisión	12.5	18.7%
Tarifas de servicio de ingeniería	3.2	4.8%
Licencias de tecnología	1.9	2.8%
Desarrollo prototipo	1.4	2.1%

Air Industries Group (AIRI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why prime contractors choose Air Industries Group (AIRI) for their most demanding needs. It's not just about making parts; it's about the specialized capability and the proven reliability baked into every delivery.

Supply of flight-critical, high-precision components and assemblies

Air Industries Group provides structural parts and assemblies where failure is not an option. This includes landing gear, arresting gear, engine mounts, and flight controls. The company's ability to secure new business remains strong, as shown by a book-to-bill ratio of 1.34 to 1.00 at the end of the first quarter of 2025, which is well above the industry standard of 1.20 to 1.00. This indicates that new orders are outpacing current production capacity. The total backlog of firm customer orders was $131.8 million as of September 30, 2025. For context on scale, the full-year 2024 net sales reached $55.1 million.

The value proposition is underpinned by the financial momentum from prior periods, with the total backlog exceeding a quarter of a billion dollars at the close of 2024, specifically reaching over $270 million.

The following table summarizes key performance indicators relevant to the delivery of this value proposition:

Metric	Value (as of late 2024/2025)	Context/Period
Total Backlog	Over $270 million	End of Fiscal Year 2024
Fully-Funded Backlog	Over $117 million	End of Fiscal Year 2024
Book-to-Bill Ratio	1.34x	Trailing-Twelve Months, Q1 2025
FY 2024 Net Sales	$55.1 million	Year Ended December 31, 2024
Q3 2025 Net Sales	$10.3 million	Quarter Ended September 30, 2025
Q3 2025 Gross Profit Margin	22.3%	Quarter Ended September 30, 2025

Expertise in complex machining of hard metals and deep-hole drilling

This specialized capability is housed primarily within the Complex Machining Sector (CMS). The value here is demonstrated by the award of a massive $110 million commercial contract to CMS in the third quarter of 2024, which was the largest contract to date for Air Industries Group. This capability allows the company to handle the most demanding material specifications required by modern aerospace platforms. The focus on efficiency in this area is evident, as the gross profit margin for the third quarter of 2025 improved to 22.3%.

Reliable, high-quality products for mission-critical military and commercial platforms

The reliability translates directly into support for essential platforms. For instance, Sterling Engineering Company (SEC), which contributes to the overall value, saw its preliminary year-end sales increase by 33% over 2023 in fiscal 2024. A concrete example of this mission-critical support is the recent $33 million contract secured for CH-53K helicopter components. The components are manufactured to meet the highest aerospace and defense standards.

Long-term supplier status to major defense programs (e.g., F-35, Black Hawk, B-52)

Air Industries Group maintains relationships with major defense and aerospace manufacturers like Boeing, Goodrich Landing Gear, Lockheed Martin, and Northrop Grumman. The commitment to long-life platforms is clear. A recent example is the $5.4 million contract for Landing Gear Steering Collar Components for the U.S. Air Force B-52 Aircraft. This contract supports sustainment efforts for the USAF's active fleet of 76 B-52 aircraft, which is expected to remain in service for another 25 years. The company's parts also support other key military aircraft programs.

The value derived from these long-term relationships can be seen in the company's consistent order intake:

• New bookings increased by 15% in 2024 compared to 2023.
• The book-to-bill ratio of 1.30x at the end of 2024 shows sustained order momentum.
• The company's Q1 2025 funded backlog of firm customer orders increased by $2.7 million, or 2.3%, over the prior period.

Simplified supply chain management for international military customers via FMS partnership

Air Industries Group acts as a critical, trusted link in the defense industrial base, providing components that streamline the procurement process for international military customers operating under the Foreign Military Sales (FMS) framework. This role simplifies the supply chain by offering pre-qualified, high-quality components directly to prime contractors who then integrate them into final systems destined for international allies. The value here is the de-risking of the international supply chain for major defense platforms, ensuring compliance and quality assurance are managed upfront by Air Industries Group.

Air Industries Group (AIRI) - Canvas Business Model: Customer Relationships

You're looking at how Air Industries Group (AIRI) manages its key relationships with the buyers of its precision components and assemblies, which is heavily weighted toward the defense sector.

Dedicated, long-term relationships with prime contractors (embedded supplier model)

Air Industries Group serves as a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors. This embedded supplier model suggests deep integration into the supply chains of these major players. The company's products, which include landing gears, flight controls, and engine mounts, are used in mission-critical operations essential for safety.

Contract-based, high-touch engagement for complex, custom components

The nature of the components demands a high-touch engagement, especially when dealing with new or developmental programs. For instance, an initial order for structural engine nacelle components for the new CH-53K Heavy Lift Helicopter was just under $1 million, but this was the first release against an anticipated 5-year order expected to exceed $12 million. Similarly, an order from a major landing gear manufacturer for actuator subassemblies on a developmental aircraft was modest at approximately $1 million, but this establishes a relationship expected to grow materially when the program enters production.

The current order book reflects this focus on complex, long-term work:

• Total backlog was $131.8 million as of the September 30, 2025 filing.
• Total unfilled contract values stood at $269.0 million.
• The funded backlog reached $120 million at the end of Q1 2025.

Direct sales and support to the U.S. Department of Defense (DoD) as a prime contractor

Air Industries Group is not just a subcontractor; it acts as a prime contractor to the U.S. Department of Defense (DoD). This dual role means direct engagement with the end-user for certain defense needs. The company continues to win direct contracts supporting the U.S. Air Force fleet.

Aftermarket support and spares sales for military platforms

A significant focus for 2025 and beyond is increasing penetration into the aftermarket for maintenance, repair, and overhaul (MRO) of aircraft in the fleet. This strategy is showing success. Two contracts announced in September 2025, worth approximately $6.9 million total, were specifically for aftermarket MRO sustainment of aircraft, including Fixed Wing Landing Gear Components and Rotorcraft Components for Combat Helicopters. These awards alone raised the total of aftermarket bookings to more than $13 million, representing nearly 50% of new business since the end of Q1 2025.

Another example is the $5.4 million contract secured in July 2025 for Landing Gear Steering Collar Components for the B-52 aircraft, which has 76 active aircraft in the fleet and is expected to remain in service for another 25-years. Deliveries for this specific B-52 order are planned from late 2026 through the third quarter of 2027. Earlier in the year, in February 2025, the company secured contracts worth about $1.5 million for landing gear components for the USAF B1-B Lancer bomber and F-16 Fighting Falcon.

Here's a quick look at the recent aftermarket contract value:

Contract Date	Contract Value	Platform/Use
September 2025	Approx. $6.9 million	Aftermarket MRO for Combat Helicopters/Fixed Wing
July 2025	$5.4 million	Aftermarket for U.S. Air Force B-52 Aircraft
February 2025	Approx. $1.5 million	Aftermarket for B1-B Lancer/F-16 Fighting Falcon

The U.S. Military budget for Operations & Maintenance (O&M) requested a 3.5% increase for fiscal year 2025, compared to a 2.2% decrease in Procurement, underscoring the importance of the aftermarket segment.

Active consideration of refinancing its credit facilities, which mature at the end of December 2025

The relationship with its lenders is currently a critical, high-touch focus. Management is actively engaged in constructive discussion with all lenders regarding potential refinancing or extension of obligations, as the consolidated balance sheet reflects all credit facility and subordinated debt as current. The credit facility matures at the end of December 2025. Total debt stands at $28.645 million, which includes a revolver of $15.838 million and a term loan of $6.118 million. The related party subordinated notes mature later, on July 1, 2026. Management has disclosed substantial doubt about continuing as a going concern given these expirations and covenant defaults, despite the ongoing refinancing discussions.

Air Industries Group (AIRI) - Canvas Business Model: Channels

You're looking at how Air Industries Group moves its precision components and assemblies to the end-users. For Air Industries Group, the Channels block is heavily weighted toward direct engagement within the defense and established aerospace supply chains.

Direct sales to large aerospace and defense prime contractors

The core channel for Air Industries Group involves direct sales of precision components and subassemblies to major aerospace and defense prime contractors. This segment represents the majority of the company's revenue base. The company's funded backlog, representing firm customer orders, stood at a record $120 million as of early 2025, growing to $131.8 million in orders as of September 30, 2025. This backlog signals strong, committed demand flowing through this primary channel. The Book-to-Bill ratio was a healthy 1.34 to 1.00 at the end of the first quarter of 2025. This channel supports both new production and the aftermarket for existing platforms.

Recent contract awards highlight the activity within this channel:

Contract/Award	Value	Platform/Purpose	Announcement Date
CH-53K King Stallion Components	More than $33 million (seven-year agreement)	Complex components for a DoD priority helicopter program	January 2025
Landing Gear Steering Collar Components	$5.4 million	US Air Force B-52 Aircraft	July 2025
Two Contracts	$6.9 million	Unspecified	September 2025

Direct sales to the U.S. Department of Defense

A significant portion of the business flows directly or indirectly to the U.S. Department of Defense (DoD) for mission-critical operations. The company supplies parts for platforms like the B1-B Lancer bomber and the F-16 Fighting Falcon. In February 2025, Air Industries Group announced two contracts worth approximately $1.5 million for landing gear components for these specific Air Force assets. The company is strategically focused on the Maintenance, Repair, and Overhaul (MRO) market, noting that the US Military budget for Operations & Maintenance (O&M) in fiscal year 2025 requested a 3.5% increase, which is approximately 185% the size of the Procurement budget. Another direct channel success was the $2.6 million contract for main landing gear assemblies for the US Navy E-2D Advanced Hawkeye aircraft, specifically for aftermarket MRO. An earlier $11 million award for E-2D assemblies was scheduled for production to begin in the second half of 2025.

International distribution through the All-System Aerospace International marketing agreement

Air Industries Group uses a dedicated partnership to access international markets, specifically the Foreign Military Sales (FMS) community. This is executed through a marketing agreement with All-System Aerospace International, announced in September 2024. This agreement is designed to expand distribution of Air Industries Group's products to allied militaries. The partnership covers sales to 17 countries across Europe, the Middle East, Asia, and the Pacific. This channel is consistent with the company's plan to broaden support for international customers.

• Leverages All-System Aerospace's established international network.
• Supports military platforms including the Blackhawk, CH-53 Heavy Lift, and CH-47 Chinook.
• Aims to simplify supply chain management for international clients.

Direct sales to commercial aircraft manufacturers like Airbus and Boeing

While the defense sector dominates, Air Industries Group also serves the commercial side of aerospace. In 2024, the company saw an increase in commercial sales of $1.5 million, a trend that continued into 2025. The broader global aircraft MRO market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.8% between 2025 and 2030, which provides a long-term opportunity for sales through commercial channels. The company manufactures components for other complex machines, which supports this segment. For the nine months ended September 30, 2025, net sales totaled $35.1 million, reflecting the mix of defense and commercial business.

The Q3 2025 net sales were $10.3 million, while the trailing twelve-month revenue as of that date was approximately $50.03 Million USD.

Finance: review the Q4 2025 backlog conversion rate by Friday.

Air Industries Group (AIRI) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Air Industries Group (AIRI) as of late 2025. This business is fundamentally built on supplying complex, high-precision components and assemblies to the biggest names in aerospace and defense. The customer concentration is high, which is typical for this specialized manufacturing niche.

The company explicitly states it is a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors. This segment drives the majority of their activity, as evidenced by the record backlog and recent contract awards.

Here's a look at the key customer groups and associated financial figures we can tie to them based on recent activity:

The funded backlog of firm customer orders stood at $120.6 million as of the end of the first quarter of 2025. The total backlog, which includes both funded and unfunded portions, continued to exceed a quarter of a billion dollars at the close of 2024 and remained at record levels through the middle of 2025.

Customer Segment	Example/Indicator	Associated Financial Figure (USD)	Timeframe/Context
Large U.S. Aerospace & Defense Prime Contractors	Northrop Grumman Supplier Excellence Award Recipient	Not explicitly broken out	February 2025 award
Commercial Aircraft Manufacturers (Airbus and Boeing)	Largest contract to date for CMS	$110 million (Commercial Contract Booking)	Announced Q3 2024, impacting 2025/beyond
U.S. Department of Defense and various military branches	CH-53K Helicopter Components Contract	$33 million (Contract Booking)	Announced Q4 2024, impacting 2025/beyond
All Customer Segments (Total Firm Orders)	Funded Backlog	$120.6 million	As of March 31, 2025

The business development efforts show strong momentum, with the Book-to-Bill ratio calculated on a trailing-twelve-month basis reaching 1.34 to 1.00 at the end of Q1 2025. This indicates new orders are outpacing current sales recognition.

You can see the direct impact of these segments on the top line, even with revenue timing issues due to long lead times:

• Net Sales for the nine months ended September 30, 2025: $35.1 million.
• Net Sales for the third quarter of 2025: $10.3 million.
• Net Sales for the first half of 2025: $24.8 million.

The company's focus is clearly on execution within these established, high-value relationships. If onboarding takes 14+ days, churn risk rises, but the backlog suggests the opposite is happening right now.

Foreign militaries and allied nations via Foreign Military Sales (FMS) are served indirectly through the prime contractors, as the data does not show a direct revenue stream breakdown for FMS in the latest reports. The company is dedicated to supporting U.S. military programs and global defense initiatives, which implies FMS is a component of the defense prime contractor revenue.

Finance: draft 13-week cash view by Friday.

Air Industries Group (AIRI) - Canvas Business Model: Cost Structure

The Cost Structure for Air Industries Group (AIRI) is heavily influenced by the nature of its aerospace and defense manufacturing, which requires specialized inputs and skilled labor, leading to a high Cost of Sales relative to revenue in certain periods.

For the third quarter ended September 30, 2025, the company reported Operating Expenses of $2.0 million,,,. This figure reflects the ongoing focus on operational discipline, though it was an increase of $105,000 or 5.6% compared to the same period in 2024,.

A significant component of the cost structure involves working capital management, specifically inventory. Air Industries Group made a Significant investment in inventory to support future deliveries, with Inventories increasing by $5.6 million over the first nine months of 2025,,. This buildup ties up cash but is necessary to fulfill the strong backlog.

Financial risk is clearly visible in the interest expense, which is a fixed charge that weighs on GAAP earnings. For the third quarter of 2025, the Interest Expense was reported as ($466,000). This is a key consideration, especially as the company approaches the December 2025 maturity of its credit facility,.

The company is making Capital expenditures for new equipment to drive operational efficiency, as evidenced by a quarterly Capital Expenditure figure of $896,000 for the quarter ending June 2025.

To give you a clearer picture of the cost components relative to revenue for the most recent periods, here are the key figures:

Metric	Q3 2025 (3 Months)	9M 2025 (9 Months Ended Sep 30)
Net Sales	$10.3 million	$35.1 million,
Gross Profit	$2.3 million	$6.4 million,
Implied Cost of Sales (Sales - GP)	Approx. $8.0 million	Approx. $28.7 million
Gross Profit Margin	22.3%	18.1%,
Operating Expenses	$2.0 million,	$6.8 million,
Interest Expense	($466,000)	Not explicitly stated for 9M in one place, Q2 was ($446,000)

The high cost of sales is reflected in the gross margin figures. While the Q3 2025 margin of 22.3% showed a significant improvement, suggesting success in managing material and labor costs relative to revenue for that quarter, the nine-month margin was lower at 18.1%,. This difference highlights the impact of timing and product mix on the cost of specialized materials and labor.

You should also note the following cost-related activities:

• Workforce reduction planned to reduce annual payroll by approximately $1.0 million.
• Non-cash stock compensation expense significantly impacted Q1 2025 Operating Expenses, increasing them by $412,000 for that quarter.
• Accounts payable increased by approximately $2 million in 9M 2025, which temporarily offsets cash needs from inventory buildup,.

Finance: draft 13-week cash view by Friday.

Air Industries Group (AIRI) - Canvas Business Model: Revenue Streams

You're looking at Air Industries Group (AIRI) and need to map out exactly where the money comes from. Honestly, the revenue streams are tightly focused on high-precision manufacturing for the aerospace and defense sectors. The foundation of the revenue model is the Sales of precision components and assemblies under long-term contracts with major prime contractors. This isn't about one-off sales; it's about securing a position on critical, long-life platforms.

To get a sense of the scale, let's look at the recent top-line numbers as of late 2025. The company is defintely seeing revenue flow from these established agreements, though timing can shift things quarter-to-quarter. For instance, the Net sales for Q3 2025 were $10.3 million. That quarter sits within a larger picture where the Trailing Twelve-Month (TTM) revenue as of Q3 2025 was approximately $52.26 Million USD.

Here's a quick look at how the recent sales stack up against the nine-month performance:

Metric	Amount
Net Sales (Q3 2025)	$10.3 million
Net Sales (Nine Months Ended Sep 30, 2025)	$35.1 million
Revenue (TTM as of Q3 2025)	$52.26 Million USD

A concrete example of securing revenue through these long-term relationships is the recent award for the B-52 platform. Air Industries Group announced it received a $5.4 Million contract specifically for Landing Gear Steering Collar Components for the US Air Force B-52 Bomber. This award, announced in July 2025, underscores the company's ability to win business supporting legacy military assets expected to remain in service for decades.

This focus on legacy support directly feeds into the fourth key revenue stream: Aftermarket and spare parts sales for military and commercial platforms. Lou Melluzzo, the CEO, specifically noted that the B-52 order resulted from an increased focus on after-market spares, signaling a strategic push to capture recurring revenue from sustainment efforts. You can see this commitment to future work reflected in the order book.

The strength of the long-term contract model is best seen in the backlog figures reported at the end of the third quarter of 2025:

• Total unfilled contract values: $269 million
• Firm backlog: $131.8 million
• Book-to-Bill ratio (TTM basis at Q1 2025): 1.34 to 1.00

These components and assemblies are mission-critical, meaning Air Industries Group provides:

• Landing gears and associated components
• Flight controls for various airframes
• Engine mounts for jet engines and ground turbines

Finance: draft 13-week cash view by Friday.