That would be a marker beacon transmitter that transmits a tone to a receiver in the aircraft to let the pilot know where he is on an instrument approach, outer marker, middle marker and inner marker.
http://en.wikipedia.org/wiki/Marker_beaconThe improved version is the BC-1332. I couldn't find any info on either one though.
I don't know the power, the Wiki article says 3 watts, but it should transmit on 75 mhz with AM tone modulation.
Good luck with it.