04/22/2021 | News release | Distributed by Public on 04/22/2021 14:40
Spirit AeroSystems's aftermarket business looks radically different than it did at the start of the pandemic-for the better. Now, Spirit can service the majority of planes in global circulation as a designated original equipment manufacturer for Airbus and Boeing.
Our transformation began well before the pandemic as part of the goal to be a more balanced, global company. But as we re-evaluated our standards, we were reminded that our desire to evolve is rooted in a singular mission. To improve the customer experience.
By investing heavily in expanding our MRO capabilities, we're able to customize and package services perfectly suited to each customer and eliminate some of the burdens that fleet operators face. This customer-centric strategy enables us to have the right capabilities, assets, and expertise in the right locations. Putting our customers first and delivering a high-quality, lower-cost repair solution will reduce turnaround time and mitigate operational disruption.
As a strategic growth business, we've more than doubled our aftermarket scope. New acquisitions, such as that from Bombardier, strengthen Spirit's partnerships and OEM and MRO capabilities for critical repair work around the globe. Not only does this expansion give Spirit new strength in Airbus repairs, including flight control surfaces, nacelles, and thrust reversers, but the increased footprint means we can provide the MRO services our customers need, when they need them, no matter where they are in the world. Our operational footprint includes facilities in the United States, as well as in Western Europe, Northern Africa, and Eastern Asia.
We have also made a significant investment in rotables, as we aim to have one of the industry's largest supplies available for exchange. This benefits our customers in several ways. Fleet operators no longer must carry the inventory cost burden. Our supply allows for complex and routine repairs to be handled in-region, saving operators both time and material costs. Above all, our rotables supply means customers can remain competitive and in the air.
Our expertise drives quality and efficiency
At Spirit, not only are we a tier-one OEM, but we also design, manufacture, and fabricate most of the parts we service. Our repair teams are intimately familiar with the ins and outs of every piece of equipment and bring extensive know-how to every job for both critical and non-critical repairs. And we're investing in integrating our sites globally, so they have the same consistent proprietary tooling, expertise, and capabilities to innovate that customers can rely upon.
With expertise in metallic and composite structures, we offer price-competitive non-critical repairs and traditional MRO services, including on-wing repair and fuselage component services, enabling our teams to work on nearly any plane in circulation. This breadth of capabilities streamlines MRO logistics for fleet operators and lowers administrative hassles by reducing the volume of MRO service providers required.
We are also able to easily spot where operators can achieve MRO efficiencies when critical repairs are needed. With the goal of helping operators get out in front of major repairs, we work with operators to proactively plan and implement repairs as part of scheduled maintenance. This simplifies complexities and delivers quick turnaround times through our specialized expertise. Through our history and knowledge, especially in repairing thrust reversers, we know when they are expected to fail, and have leading indicators of what to look for that will drive deeper-level repairs. This know-how eliminates surprise costs and aircraft on the ground.
We're committed to continuous improvement
Throughout the pandemic, we've been taking the opportunity to further strengthen the value we deliver to fleet operators. We want to do what we can to bolster fleets and to help facilitate and support the industry's recovery. We understand the pressures our customers are facing in this uncertain time. These challenges have only emboldened our commitment to being a trusted partner and will help us work even harder to help operators remain competitive for years to come.