Predecessor of the association was factory №47 founded on June 1, 1928 in Sain-Petersburg. In august 1941 the factory was evacuated to Orenburg . From 1941 to 1945 the factory produced 1595 aircraft (UT-2, UT-2 М , Yak-6, Sche-2), and from 1954 to 1958 597 helicopters М I-1. From 1947 to 1961 the factory produced sport gliders А N-1, А N-2, assault gliders Ts-25, Yak-14, aircraft PO-2, pilotless projectile-planes and attack planes IL-10 М.
From 1950 to 1980 the factory was implementing orders for ballistic missiles production, intercontinental ballistic missiles and sea-borne anti ship cruise missiles. To arm the national Navy, the factory manufactured anti-ship cruise missiles "Malakhit", "Bazalt" and "Granit". In 1961 the factory was awarded by Labour Red Banner Order, in 1971 – by Order of Lenin, and in 1984 the factory received the third order of October Revolution. In 2006 FSUE PO «Strela» was reorganized into JSC «Production Association «Strela».
Productsanti-ship cruise missiles, target plane «Dan», multi-purpose light helicopters КА -226, КА -226 А G, agricultural equipment (grain and fertilizer stubble seeding machines, disk harrows), heat saving equipment (plate dismountable heat exchanges, household heating tanks), consumer goods (satellite antennas, TV transmitters etc.).
The association interacts with leading companies of the aviation and space industry: «RSK «MiG», «NPK «Irkut», «NPO named after S. А . Lavochkin», FSUE "GKNPTs named after М .V. Khrunichev" and many other. For the purpose of diversification and for efficient use of the available production facilities, the production of agricultural machines was established along with manufacture of products to satisfy needs of atomic energy and JSC “Russian railroads”.
Director General: Alexander Matveevich Markman.