Lockheed Martin [LMT] recently said it has acquired Netherlands-based Sim-Industries, a developer and manufacturer of commercial aviation simulators, in a move that expands the company’s simulation business beyond the military.
Lockheed Martin said its initial focus will be on building Sim-Industries’ success with commercial customers. Eventually, Lockheed Martin will look to leverage the combined strengths of its military and commercial simulation businesses.
“This acquisition demonstrates Lockheed Martin’s commitment to expand in adjacent markets with strong, long-term growth prospects that build on our core capabilities,” Bob Stevens, Lockheed Martin’s chairman and CEO, said in a statement. “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.”
Terms of the deal were not disclosed. Sim-Industries has 104 employees and has sold 25 full flight simulators and three fixed-based simulators to a variety of flight academies and training centers globally.
Sim-Industries supplies flight simulators for Boeing [BA] 737 and Airbus 320 single-aisle aircraft. The seven-year-old firm is finalizing development and certification of its first twin-aisle simulator for the Airbus 330.