parker-hannifin Research by SuperAGI

Overview

Parker Hannifin Corporation is a global leader in motion and control technologies, headquartered in Cleveland, Ohio, and is part of the Fortune 250. With over a century of expertise, the company is renowned for its precision-engineered solutions across various industries. Its product portfolio includes fluid power systems, electromechanical controls, aerospace systems, climate control systems, and sealing and shielding technologies, serving numerous sectors such as life sciences, oil and gas, power generation, and transportation.

Key Financials

Annual Revenue (2023): $19.9 billion

Market Capitalization: $84.1 billion

Revenue Growth (2023 vs. 2022): 4.5%

Parker Hannifin recorded a record year in fiscal 2024, demonstrating strong financial performance with robust profit margins and overall earnings.

Leadership

The leadership at Parker Hannifin is headed by Jennifer A. Parmentier, Chairman of the Board and Chief Executive Officer since 2024. Supporting the strategic directives are Andrew D. Ross, President and Chief Operating Officer, and Todd M. Leombruno, Executive Vice President and Chief Financial Officer. This executive team is noted for its strategic vision and commitment to innovation and sustainability across the company's global operations.

Operations and Market Reach

Globally active, Parker Hannifin has manufacturing facilities and subsidiaries in the Americas, Europe, Asia Pacific, the Middle East, and Africa. It serves a vast array of markets, offering comprehensive solutions ranging from motion and control technologies to custom manufacturing services. Key brands under Parker Hannifin comprise Autoclave, Baldwin, and Sporlan.

Recent Developments

In 2024, Parker Hannifin finalized the divestiture of its North America Composites and Fuel Containment Division. The company continues its focus on innovation with the launch of a new I/O option board. Additionally, Parker plays a significant role in the aerospace sector with projects like the H2FlyGHT initiative, which aims at advancing zero-emission technology standards.

Competitive Landscape

Parker Hannifin faces stiff competition from major corporations such as RTX Corp, Honeywell International Inc., Safran SA, and Danaher Corp. Despite the competitive environment, Parker maintains its leadership in the industrial goods and machinery sector through sustainable practices and strong engineering capabilities.

Major Competitors

1. Festo
2. Bosch Rexroth
3. Danaher
4. Eaton
5. United Technologies

Parker Hannifin is noted for its exceptional Overall Culture Score, notably ranking 3rd among these competitors on comparability scales.

Additional Competitors

Other notable competitors engaging in similar markets include:

Johnson Electric

Emerson

Harbor Freight Tools

Vulcan Spring

Company Comparison

According to data:

Raytheon Technologies Corp: HQ in the USA, 174,000 employees, $64.4 billion in revenue.

Danaher Corp: USA-based, 78,000 employees, $29.5 billion in annual revenue.

Eaton Corporation Plc: Based in Ireland, 85,947 employees, $19.6 billion in revenue.

Safran SA: HQ in France, 76,765 employees, and $17.9 billion in revenue.

Strategic Insights

Parker Hannifin's strategy involves constant innovation and market adaptation. The presence of formidable competitors like Raytheon and Danaher obliges the company to leverage its strengths to retain and expand its market share. Emphasizing innovation, culture, and technological advancements are pivotal for Parker Hannifin's strategic positioning in the industry.