Griffon Aerospace’s Business Category has achieved the Dunn and Bradstreet’s premium rating this week. Griffon is a developing company with zero debt philosophy and solid financial practices.
Griffon’s CEO, Larry French said that this rating is a successive distinction following the achievement of the company’s largest capital investment. Griffon’s massive investment was made in a large 5 axis router, through which rapid production process from design to finished tooling was achieved. As part of the company’s capital investment program, advanced target drones such as high speed variations undergo complete retooling. It also includes commonality with a new series of Tactical Unmanned Aircraft.
The company produced revenues initially through prime contracts from the Navy and Army. Following its achievement of several contracts, it was able to produce over 3,000 drones and unmanned air vehicles. The company was distinguished as one of the U.S.’s highest volume manufacturers of UAV, which reflects Griffon’s significant success in production. In 2011, the company booked more than 15,000 flight services for military customers globally. This year, the company is gearing up to offer more than 20,000 h.
French further said that following the recent Congressional legislation support for unmanned aircraft to be deployed in the national airspace, Griffon’s retooling and huge capital equipment investments are major factors to address the growing market demand.
Griffon’s business strategy is based on the optimization of increased drone composite production to affordable and innovative UAVs that are effective for both military and commercial applications.