This article discusses the airplane part maker. For the Oil and Gas company that owns oil fields in Texas and Louisiana, see Goodrich Petroleum (GDP).
Goodrich Corporation (NYSE:GR) manufactures and sells components and systems for commercial and military aircraft. With jet fuel prices increasing, commercial airlines are demanding more fuel efficient aircraft like Boeing’s 787. Furthermore, developing countries are demanding more planes. GR's aftermarket sales for commercial and business airplanes are growing since aircraft numbers are rising and planes are always aging.
Goodrich Corporation is broken down into three business segments.
This segment manufactures and produces flight controls, helicopter's main and tail rotors, complete landing gear systems (including wheels and brakes), fuel controls, electrical systems, surveillance systems, and provide maintenance and repair services associated with aircraft engines and aircraft interior products. They also provide a significant amount of aftermarket support for the entire life cycle of airplanes and defense programs by providing products and services to their customers to replace, repair, or overhaul their products.
The Nacelles and Interior Systems business provides maintenance, repair and overhaul services associated with aircraft engines, including thrust reversers, cowlings, nozzles and their components, and aircraft interior products, which include slides, seats, cargo and lighting systems.
The Electronic Systems segment produces a variety of systems that provide flight performance measurements, flight management, fuel controls, electrical systems, and control and safety data, as well as reconnaissance and surveillance systems.
About 70 percent of Goodrich Corporation’s sales come from commercial aircraft programs. GR sells products and service for Airbus' A380 and A350XWB, Boeing's 787, Embraer's 190, and Dassault's Falcon 7X. Commercial airlines are demanding more fuel efficient airplanes, such as Boeing’s 787, as jet fuel prices are rising.
Events that have a negative impact on the commercial aircraft market, such as the unexpected terrorist attack on 9/11 or a dramatic increase in fuel-prices that consumers cannot cope with, will also negatively affect GR by negatively affecting their customers.
Goodrich Corporation purchases aluminum, titanium, steel, carbon fiber, and other various specialty metals which are used to manufacture their products. The loss of a supplier or a delay from the supplier can have a negative impact on GR, since it would pressure their contractual obligations to deliver their products on time. Furthermore, supply fluctuations of these raw materials can lead to prices changes that affect GR's margins. Although titanium prices have decreased, both aluminum and steel prices have had an increasing trend. Steel Prices have been rising and continue to increase. As the price of the materials GR uses increase, GR's costs increase, squeezing margins and slowing income growth.
Goodrich Names Michael Barbalas as President of its China Activities
CHARLOTTE, N.C., April 7, 2010 /PRNewswire via COMTEX/ --Goodrich Corporation (NYSE: GR) has named Michael Barbalas as president of its China activities, reporting to Cindy Egnotovich, Segment President, Nacelles and Interior Systems. Barbalas joins Goodrich from the American Chamber of Commerce in China, headquartered in Beijing, where he served as president. He replaces Ken Wood, who will be retiring after 24 years of service at Goodrich.
Commenting on the changes, Egnotovich said, "China is the fastest growing aerospace market in the world, and Mike has spent more than 20 years building relationships with some of the top companies and government entities in the region. As Goodrich continues to grow its operations and customer base in China, we will look to his leadership and experience to bring us to the next level of operational excellence and customer satisfaction there."
GR operates in a highly competitive aerospace industry. The following tables list GR’s major competitors in each business segment, which is further broken down into major aerospace products and systems platforms. GR competes with both domestic and foreign companies.
GR's direct competitors include:
|Actuation and Landing Systems||Primary Market Segments||Major Non-Captive Competitors|
|Wheels and Brakes||Large Commercial/ Ragional/Business/Defense||Honeywell Internaional Inc;Messier-Bugatti( subsidiary of SAFRAN); Aircraft Braking Systems Corporation (subsidiary of Meggitt plc); Dunlop Standard Aerospace Group plc. (a division of Meggitt plc)|
|Landing Gear||Large Commercial/Defense||Messier-Dowty (a subsidiary of SAFRAN), Liebherr-Holding GmbH; Héroux-Devtek Inc.|
|Flight Control Actuation||Large Commercial/Defense||Parker Hannifin Corporation; United Technologies Corporation; GE Aviation; Liebherr-Holding GmbH; Moog Inc.|
|Turbine Fuel Technologies||Large Commercial/Military/Regional/Business||Parker Hannifin Corporation; Woodward Governor Company (WGOV)|
|Trubomachinery Products||Aero and Industrial Turbine Components||Blades Technology; Samsung; Howmet (a division of Alcoa Inc.); PZL (a division of United Technologies Corporation), Honeywell -- Greer (a division of Honeywell International, Inc.); TECT Corporation|
|Nacelles and Interior Systems||Primary Market Segments||Major Non-Captive Competitors|
|Nacelles /Thrust Reversers||Large Commercial/Military||Aircelle (a subsidiary of SAFRAN); General Electric Company (GE) , Spirit Aerosystems Holdings (SPR)|
|Evacuation Systems||Large Commercial/Regional||Air Crusiers (a subsidiary of Zodiac S.A.); Smiths Group; Parker Hannifin Corporation|
|Propulsion Systems||Defense||Danaher Corp (Pacific Scientific, McCormick Selph, SDI); Scot, Inc. (a subsidiary of Procyon Technologies, Inc.); Talley Defense Systems|
|Aircraft Crew Seating||Large Commercial/Regional/Business||Ipeco Holdings Ltd; Sicma Aero Seat (a subsidiary of Zodiac S.A.); EADS Sogerma Services (a subsidiary of EADS European Aeronautical Defense and Space Co.); BE Aerospace, Inc.; C&D Aerospace Group|
|Ejection Seats||Defense||Martin-Baker Aircraft Co. Limited|
|Lighting||Large Commercial/Regional/Business/Defense||Page Aerospace Limited; LSI Luminescent Systems Inc.; Diehl Luftfahrt Elecktronik GmbH (DLE)|
|Cargo Systems||Large Commercial||Telair International (a subsidiary of Teleflex Incorporated); Ancra International LLC, AAR Manufacturing Group, Inc.|
|Electronic Systems||Primary Market Segments||Major Non-Captive Competitors|
|Sensors||Large Commercial/Regional/Business/Defense||Honeywell International Inc.; Thales, S.A.;Auxitrol (a subsidiary of Esterline Technologies Corporation)|
|Fuel and Utility Systems||Large Commercial/Defense||Honeywell International Inc.; Parker Hannifin Corporation; Smiths Group|
|De-lcing Systems||Large Commercial/Regional/ Business/Defense||Aérazur S.A. (a subsidiary of Zodiac S.A.); B/E Aerospace, Inc.|
|Aerospace Hoists/Winches||Defense/Search & Rescue/Commercial Helicopter||Breeze-Eastern (a division of TransTechnology Corporation); Telair International (a subsidiary of Teleflex Incorporated)|
|Optical Systems||Defenes/Space||BAE Systems (BAESY) ; ITT Industries Inc; L-3 Communications Holdings (LLL) ; Honeywell International (HON)|
|Power Systems||Large Commercial/Regional/ Business/Defense||Honeywell International (HON); Smiths Group; Hamilton Sunstrand (a subsidiary of United Technologies Corporation)|
|Engine Controls||Large Commercial/ Regional/Business/ Defense/Helicopter||United Technologies (UTX) ; BAE Systems (BAESY) ;Honeywell International (HON) ; Argo-Tech Corporation, Woodward Governor Company; Hispano-Suiza (a subsidiary of SAFRAN)|
Goodrich Names Michael Barbalas as President of its China Activities