Frequentis AG completes production of 15 000 Air‑to‑Ground Protocol Converters (APCs) for the FAA’s BNATCS program

Frequentis AG, the Vienna‑based industrial company that designs and manufactures communication and information systems for air traffic control, announced that it has finished producing its 15 000th Air‑to‑Ground Protocol Converter (APC). The milestone is part of the U.S. Department of Transportation’s $12.5 billion Brand‑New Air Traffic Control System (BNATCS) modernization program.

Key details of the achievement

  • Production milestone: 15 000 APCs manufactured for the Federal Aviation Administration (FAA).
  • Program context: The APC gateways support the largest aviation‑communications modernization effort worldwide, covering thousands of network endpoints in the U.S. National Airspace System.
  • Technology transition: The gateways enable large‑scale conversion from Time‑Division Multiplexing (TDM) to Voice‑Over‑IP (VoIP), a core component of the BNATCS upgrade.
  • Strategic significance: Completing this volume confirms Frequentis’s role as a primary supplier for the FAA’s critical infrastructure upgrade.

Financial and market implications

  • Stock performance: As of 19 July 2026, Frequentis AG’s share price closed at €71.50, reflecting investor confidence in its ongoing contracts and production capabilities.
  • Valuation: The company trades at a price‑to‑earnings ratio of 30.096, indicating a premium relative to its earnings, consistent with expectations of continued demand for aviation‑communication solutions.
  • Market cap: With a market capitalization of €934 million, Frequentis remains a significant player in the industrial sector listed on the Vienna Stock Exchange.

Broader market context

On 20 July 2026 the Vienna Stock Exchange closed with modest gains, as global market sentiment was influenced by geopolitical tensions in the Middle East and rising oil prices. While the ATX index increased by 0.5 percent, the overall environment remained uncertain. Frequentis’s production completion provided a positive development for investors focused on industrial and defense‑related equities, offering a counterbalance to broader market volatility.

Frequentis’s successful delivery of the 15 000 APCs demonstrates its capability to execute large‑scale, high‑technology contracts and positions the company to benefit from the continued expansion of global air‑traffic‑control infrastructure.