Spirit AeroSystems Market Research Report

Company Overview

• Name: Spirit AeroSystems

• Mission: Inventing, designing, and building what’s best in aerospace.

• Founded: Spirit AeroSystems was officially formed in 2005 when Boeing sold its Wichita division and Oklahoma operations. However, the company’s legacy in aerospace dates back to 1908 with Short Brothers in the UK and 1927 with Stearman Aircraft Company in the US.

• Founder: No information is available specifically for the founder of Spirit AeroSystems.

• Key People:

• Pat Shanahan: President & Chief Executive Officer

• Sean Black: Senior Vice President, Engineering and R&T, Chief Technology Officer

• Gregg Brown: Senior Vice President, Global Quality

• Irene Esteves: Executive Vice President, Chief Financial Officer

• Terry George: Senior Vice President, Wichita and Tulsa Operations, Fabrication, Operations Engineering, Tooling, and Facilities

• Stacy Hall: Vice President, 737 Programs

• Kailash Krishnaswamy: Senior Vice President, Chief Procurement Officer

• Scott McLarty: Senior Vice President, Airbus & Regional/Business Jets Programs

• Mark Miklos: Senior Vice President, Defense & Space

• Kami Power: Vice President, 767/777 Programs

• Justin Welner: Senior Vice President, Chief Administration & Compliance Officer

• Bryan Woods: Vice President, 787 Program

• Headquarters: Wichita, Kansas

• Number of Employees: No information is available.

• Revenue: No information is available.

• What the Company is Known For: One of the world's largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. Known for expertise in aluminum and advanced composite manufacturing solutions.

Products

Commercial Products

• Fuselages, Integrated Wings, Wing Components, Pylons, Nacelles:

• High-Level Description: The company manufactures major aero structures, including complete fuselages, wing systems, propulsion systems, and nacelles.

• Key Features: Expertise in aluminum and advanced composite materials, providing robust and reliable structural components for commercial aircraft manufacturers.

Defense Products

• Cockpit and Cabin Assembly for CH-53K King Stallion:

• High-Level Description: Provides a significant performance upgrade for the U.S. Marines.

• Key Features: Advanced composite design and build capability, focused on reliability and cost-effectiveness.

Aftermarket Products

• Maintenance, Repair, and Overhaul (MRO) services:

• High-Level Description: Provides aftermarket services for commercial and business/regional jets.

• Key Features: Focused on maintenance solutions and enhancements for existing commercial aircraft fleets.

Recent Developments

• Acquisition by Boeing:

• Description: Spirit AeroSystems announced an acquisition by Boeing valued at $8.3 billion on July 1, 2024.

• Change in Chief Financial Officer:

• Description: Mark Suchinski stepped down as the CFO, and Irene Esteves was appointed as the new CFO on June 5, 2024.

• Workforce Reduction:

• Description: Issued a statement on workforce reduction in Wichita on May 16, 2024.

• Financial Performance:

• First Quarter of 2024: Reported financial results on May 7, 2024.

• Second Quarter of 2024: Reported financial results on August 5, 2024.

Conclusion

Spirit AeroSystems continues to be a leader in aerostructures manufacturing with a strong presence in both the commercial and defense sectors. Recent developments showcase significant corporate movements, including a major acquisition and executive changes, which hint at strategic realignments and growth trajectories within the aerospace industry.