Spirit AeroSystems Holdings, Inc. operates as an independent non-OEM (original equipment manufacturer) aircraft parts designer and manufacturer of commercial aerostructures worldwide. Segments The company operates through three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. Fuselage Systems: This segment includes the development, production, and marketing of forward, mid and rear fuselage sections and systems, primarily to aircraft OEMs, as well as related spares and MRO (maintenance, repair and overhaul). Propulsion Systems: This segment includes the development, production, and marketing of struts/pylons, nacelles (including thrust reversers), and related engine structural components primarily to aircraft or engine OEMs, as well as related spares and MRO services. Wing Systems: This segment includes the development, production, and marketing of wings and wing components (including flight control surfaces), and other miscellaneous structural parts primarily to aircraft OEMs, as well as related spares and MRO services. Products Commercial Aircraft Structures The company designs, engineers, and manufactures large commercial aircraft structures, such as fuselages, nacelles (including thrust reversers), struts/pylons, wing structures, and flight control surfaces. It sells a package of aerostructure components, referred to as a shipset, to its customers. Military Equipment In addition to providing aerostructures for commercial aircraft, the company designs, engineers, and manufactures structural components for military aircraft. It has been awarded a significant amount of work for The Boeing Company’s (Boeing's) P-8, C40, and KC-46 Tanker. The Boeing P-8, C40 and KC-46 Tanker are commercial aircraft modified for military use. Other military programs for which the company provides products include the development of the Sikorsky CH-53K and Bell Helicopter V280 tilt-rotor, and various other programs. Global Customer Support and Services The company continues to expand its base for aftermarket support of the products that it designs and builds. The company has global reach with sales offices in Singapore, Ireland, China, the U.K., and the U.S. Its Spirit catalog has various new and serviceable parts that the company offers directly to the marketplace by virtue of having obtained parts manufacturing approvals from the Federal Aviation Administration. The company’s repair stations in Wichita, Kansas and Prestwick, Scotland have the Federal Aviation Administration and European Aviation Safety Agency (EASA) certifications. In addition, it operates an MRO repair station through a joint venture in Jinjiang, China, Taikoo Spirit AeroSystems Composite Company, Ltd., which holds Civil Aviation Administration of China certification and the Federal Aviation Administration and EASA approval. Customers The company’s primary customers are aircraft OEMs. Boeing and Airbus S.A.S., a division of Airbus Group NV (Airbus) are the company’s two major customers. Its customers also include Sikorsky, Rolls-Royce, Bombardier, Mitsubishi Aircraft Corporation, Bell Helicopter, Southwest Airlines, United Airlines, and American Airlines. Strategy The company’s strategy is to enter into long-term contracts with suppliers to secure competitive pricing. Research and Development The company’s research and development expenses were approximately $29.3 million for the year ended December 31, 2014. Governmental Regulations The company must satisfy the requirements of its customers, including OEMs and airlines that are subject to the Federal Aviation Administration regulations. The company’s operations are in material compliance with the Occupational Safety and Health Act’s health and safety requirements. Competition The company’s principal competitors among OEMs include Boeing; Airbus (including their wholly-owned subsidiaries, Stelia Aerospace and Premium Aerotec GmbH); Embraer Brazilian Aviation Co.; Alenia Aermacchi; and United Technologies Corporation. The company’s principal competitors among non-OEM aerostructures suppliers are Aernnova; Aircelle S.A.; Fuji Heavy Industries, Ltd.; GKN Aerospace; Kawasaki Heavy Industries, Inc.; Mitsubishi Heavy Industries; Nordam; Sonaca; Triumph Group, Inc.; Latecoere S.A.; and Nexcelle.
spirit aerosystems hold-cl a
(SPR:New York Consolidated)
3801 South Oliver
Wichita, KS 67210
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