The declining and unpredictable oil and gas market is not shrinking Lockheed Martin’s interest in the commercial helicopter market, according to the Reuters news agency.
Citing a top L-M business development executive, Reuters said oil’s decline is not just affecting the aerospace and defense giant’s newly acquired Sikorsky Aircraft unit but all commercial helicopter makers. Also, it said L-M sees opportunities remaining in the commercial search and rescue and corporate/VIP markets (as well as Sikorsky’s bread-and-butter military sales).
The report was based on an interview this week with Steve O’Bryan, the head of strategy and business development for L-M’s Mission Systems and Training unit, of which Sikorsky became a part in November.
"Lockheed Martin has a steadfast commitment to the commercial helicopter market," said O’Bryan, according to Reuters, adding that Sikorsky aircraft are being utilized at a high rate in the oil and gas sector with low idle time.