1/4/2023 0 Comments Spirit aerosystems![]() I think the things that really make Spirit AeroSystems stand out in the defense market was the win on the B-21 program. ![]() Obviously, you know already does some work on defense programs, notably the KC-46 tanker … Does that experience position Spirit better for more work in the future? To go up to 40% at their current level of revenue would make them more like a $3 billion company in the defense market. I mean, right now, at 15%, that makes them sort of a billion-dollar … company in the defense market. that defense work makes up about 15% of their revenue and they want to grow that to about 40%. There are quite a few companies in that group, but few with the sort of capacity and industrial wherewithal of Spirit AeroSystems. Northrop Grumman is another big player, with other companies like Raytheon, General Dynamics. The biggest defense contractor in the world is Lockheed Martin, and you've got Boeing and their defense division not too far behind. ![]() The defense budget at the moment is in the $730 billion range, thereabouts. The interview was edited for length and clarity.Ĭan you start by talking a little bit about defense spending in general? How much money is out there and who would be the big players in that pool? He talked with Tom Shine and The Range about Spirit's efforts to grow its defense business, what makes the company attractive to defense contractors and whether defense work is more stable than the commercial aviation industry. He has covered aviation and the defense industry for nearly 20 years. Steve Trimble is the defense editor for Aviation Week. "I'm pleasantly surprised as it relates to the number of new work opportunities that have been coming our way on the defense side," Mark Suchinski, Spirit's senior vice president and chief financial officer, said on an earnings conference call last month. The company already is part of the new B-21 bomber supply chain and has acquired one company and is in the process of acquiring another that does defense work. Spirit says about 15% of its revenue comes from defense work. That has resulted in thousands of layoffs at Spirit since January, along with furloughs and pay cuts.ĭespite the drumbeat of bad news, Spirit has consistently remained optimistic when discussing one topic: its defense programs. ![]() ![]() The continued grounding of the Boeing 737 Max - the company's most important program - was compounded by a near shutdown of commercial air traffic because of the pandemic. 2020 has not been kind to aviation manufacturer Spirit AeroSystems. ![]()
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