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WO R L D T R A D E ’ S E XC LU S I V E R E S E A R C H R E P O RT

High Flying Performers in the


Aerospace/Aircraft Industry
T
his month’s look at the top performers in the aerospace and aircraft industry finds that
Boeing continues to fly high above its closest competitors—the European Aeronautic
Defence and Space Company (EADS), Lockheed Martin, and Airbus. Overall, the indus-
try has experienced a few bumps in recent years, but there have been some bright spots. In par-
ticular, sales of military aircraft, engines, parts, and services grew strongly to $37 billion in 2002.
However, the Aerospace Industries Association (AIA) estimates that U.S. aerospace industry sales
will decline by about 6.6 percent for 2003.

Companies that manufacture and/or distribute aerospace products,


AEROSPACE/AIRCRAFT services and commercial aircraft

2002 2002 NET EST.# PRIMARY


COMPANY (RANKED BY SALES) MARKET/PRODUCT OVERVIEW SALES (MIL.) INCOME (MIL.) EMPLOYEES COMPETITORS
#1 The Boeing Company • World’s largest aerospace company with two key industry segments: $54,069.0 $492.0 166,000 Airbus
www.boeing.com Commercial Airplanes and Integrated Defense Systems EADS
• Commercial aircraft:767,747,737 Lockheed Martin
• Space operations:communications satellites,Delta rockets,missiles and the
Space Shuttle

#2 European Aeronautic Defence • A conglomeration of three companies:DaimlerChrysler Aerospace, $31,339.2 ($313.4) 103,967 BAE Systems
and Space Company EADS N.V. Aerospatiale Matra and Construcciones Aeronauticas SA; Boeing
www.eads-nv.com • Largest aerospace firm in Europe Lockheed Martin
• Major operations:stake in Airbus,helicopters,jet fighters,satellites and missiles

#3 Lockheed Martin Corporation • Leading worldwide defense contractor $26,578.0 $500.0 125,000 Boeing
www.lockheedmartin.com • Primary operations:Electronic Systems,Space Systems,Aeronautics,Inte- Northrop Grumman
grated Systems and Solutions,and Technology Services

#4 Airbus S.A.S. • Worldwide maker of commercial jetliners — #2 behind Boeing;owned by $20,333.1 NA 46,000 Boeing
www.airbus.com EADS and BAE Systems Bombardier
• Commercial aircraft include:A318,A319,A320 and A321 Embraer

#5 Northrop Grumman Corporation • The World’s #2 defense contractor behind Lockheed Martin $17,206.0 $64.0 117,300 Boeing
www.northgrum.com • Operations include:Electronic Systems,Information Technology,Integrated General Dynamics
Systems and Component Technologies Lockheed Martin

#6 Bombardier,Inc. • Aerospace subsidiary of this company produces civil aircraft $15,481.6 ($402.5) 70,411 Boeing
www.bombardier.com • Other operations:Regional aircraft — Canadair,de Havilland,Challenger,Learjet Embraer

#7 BAE SYSTEMS • Largest European defense contractor $12,953.1 ($1,100.3) 68,100 Boeing
www.baesystems.com • Operations/products include:avionics,military and regional jet aircraft,air- EADS
defense systems,missiles,space systems and aerospace electronics Lockheed Martin

#8 GE Aircraft Engines • A business unit of GE — worldwide producer of engines for commercial and $11,141.0 NA 26,000 Honeywell Aerospace
www.geae.com military aircraft Pratt & Whitney
• Aircraft types include:jet,turboprop and turboshaft engines Rolls-Royce

#9 Rolls-Royce plc • Second largest aircraft engine maker in the world behind GE’s Aircraft $9,283.4 $85.0 39,200 GE Aircraft Engines
www.rolls-royce.com Engines division Honeywell
• Products produced include:commercial and military gas turbine engines for Pratt & Whitney
military,airline and corporate aircraft clients

#10 Honeywell Aerospace • Business unit of Honeywell International $8,855.0 NA NA Boeing


www.honeywellaerospace.com • Operations/products include:aircraft engines and systems,aerospace Lockheed Martin
electronics,and landing gear components United Technologies

Secondary research data was collected on public companies and compiled during July 2003 by the Market Research Division of
Business News Publishing Company (BNP). Data sources: annual reports and Hoovers online.
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Companies that manufacture and/or distribute aerospace products,


AEROSPACE/AIRCRAFT services and commercial aircraft

2002 2002 NET EST.# PRIMARY


COMPANY (RANKED BY SALES) MARKET/PRODUCT OVERVIEW SALES (MIL.) INCOME (MIL.) EMPLOYEES COMPETITORS
#11 Pratt & Whitney • Division of United Technologies that manufactures and services com- $7,645.0 NA 30,000 GE Aircraft Engines
www.pratt-whitney.com mercial & military aircraft engines Lockheed Martin
• Other interests:space propulsion systems Rolls-Royce

#12 Parker-Hannifin Corporation • Maker of aerospace components such as fuel systems,and motion con- $6,149.1 $130.2 48,176 Eaton
www.parker.com trol equipment/products Honeywell International

#13 Smiths Group plc • Aerospace Division produces civilian and defense avionics and naviga- $5,073.1 $77.3 33,000 EADS
www.smiths-group.com tion systems Lockheed Martin
GE Medical Systems

#14 Goodrich Corporation • Leading producer of aerospace products & systems including Airframe $3,910.2 $117.9 22,900 BAE SYSTEMS
www.goodrich.com Systems,Electronic Systems and Engine Systems Honeywell International
United Technologies

#15 Rockwell Automation,Inc. • Worldwide producer of industrial automation products & services; $3,909.0 $121.0 22,000 Honeywell International
www.rockwellautomation.com • Operations include:Control and Power Systems Siemens
UNOVA

#16 Cessna Aircraft Company • A subsidiary of Textron that manufactures business jets,utility turbo- $3,303.9 NA NA Bombardier
www.cessna.com props and small single-engine planes Dassault Aviation
• 4th largest maker of business jets worldwide Gulfstream Aerospace

#17 Dassault Aviation SA • Primary business:business and luxury jets $3,605.5 $327.0 12,022 Boeing
www.dassault-aviation.fr • Other equipment produced:military aircraft (e.g.jet fighters and UAVs) Gulfstream Aerospace
• Partially owned by EADS Lockheed Martin

#18 Hamilton Sunstrand • A subsidiary of United Technologies that manufactures aerospace sys- $3,400.0 NA 16,700 Honeywell International
Corporation tems & industrial products Northrop Grumman
www.hamiltonsundstrandcorp.com • Top aerospace customers include:NASA,commercial airlines and the U.S. Woodward
military

#19 Gulfstream Aerospace • A subsidiary of General Dynamics that makes business jets;Other inter- $2,905.0 NA 7,400 Bombardier
Corporation ests:aftermarket maintenance services and sale of its used airplanes Dassault Aviation
www.gulfstreamaircraft.com Raytheon Aircraft

#20 Embraer-Empresa Brasileira de • Leading worldwide manufacturer of aircraft including jets and turbo- $2,525.8 $222.6 11,264 Bombardier
Aeronautica S.A. props;Other interests:maker of transport and surveillance aircraft for the Gulfstream Aerospace
www.embraer.com military Fairchild Dornier

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Companies that manufacture and/or distribute aerospace products,


AEROSPACE/AIRCRAFT services and commercial aircraft

2002 2002 NET EST.# PRIMARY


COMPANY (RANKED BY SALES) MARKET/PRODUCT OVERVIEW SALES (MIL.) INCOME (MIL.) EMPLOYEES COMPETITORS
#21 Rockwell Collins,Inc. • Maker of aviation electronics and communication equipment for com- $2,492.0 $236.0 14,500 BAE SYSTEMS
www.rockwellcollins.com mercial and military aircraft Honeywell International
• Primary customers are domestic based Raytheon

#22 Raytheon Aircraft • Large manufacturer of business jets such as the Hawker Horizon,Hawker $2,158.0 NA 11,800 Gulfstream Aerospace
www.raytheonaircraft.com 800XP and Beechjet 400A; Learjet
• Other interests:sale of used aircraft,charter,maintenance and manage- Textron
ment services

#23 CAE Inc. • Maker of civilian and military flight simulators and naval ship control systems $769.5* $79.8* 7,000 Integrated Defense
www.cae.ca • Primary customers:airlines and commercial aviation training companies (2003) (2003) Lockheed Martin

#24 Woodward Governor Company • Producer of industrial controls for industrial engines/turbines and fuel $680.0 $42.7 3,329 Hamilton Sunstrand
www.woodward.com control systems & components for aircraft engines Parker Hannifin

#25 Meggitt PLC • Maker of towed and unmanned aerial targets for military use;also pro- $647.7 $29.1 3,720 Goodrich
www.meggitt.com duces avionics and aerospace sensors Rockwell Collins
Smiths Group

#26 B/E Aerospace,Inc. • Leading maker of cabin components for commercial passenger aircraft $503.6 ($70.8) 3,700 Britax
www.bearospace.com and business jets C&D Aerospace
• Products include:aircraft seats,coffee makers,galley structures and
emergency oxygen systems

#27 Jet Aviation Management AG • Worldwide provider of chartered jets through its owned and managed $582.8 NA 3,500 BBA Group
www.jetaviation.com aircraft – including corporate and private jets and helicopters NetJets
Nimbus Group

#28 Garmin Ltd. • Maker of digital navigation products for use in satellite communications; $465.1 $142.8 1,575 Lowrance Electronics
www.garmin.com • Products include:handheld & portable products and communication Orbital Sciences
devices

#29 Aerojet-General Corporation • A subsidiary of GenCorp that makes missiles,space propulsion systems, $277.0 NA NA Boeing
www.aerojet.com armaments,and other defense products; Northrop Grumman
• Products include:solid and liquid rocket engines & motors,control sys- Alliant Techsystems
tems for rockets & missiles

#30 Aerosonic Corporation • Maker of mechanical aircraft instruments and aircraft instrument testing $27.4 $1.0 264 Honeywell International
www.aerosonic.com equipment Rockwell Automation
• Products include:altimeters,airspeed indicators,vertical speed indicators Smiths Group
and clocks

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