06/23/2021 | Press release | Distributed by Public on 06/23/2021 13:44
Strategic investments and commitment to defense & space programs drive significant growth and a new name
WICHITA, Kan., June 23, 2021 - Spirit AeroSystems, a subsidiary of Spirit AeroSystems Holdings, Inc. (NYSE: SPR) has changed the name of its defense business to 'Defense and Space' to reflect more completely its customer base and capabilities. Spirit projects Defense and Space will make up 20% of total consolidated company revenue by the end of 2021, with a long-term goal of having the business comprise 40% of total consolidated company revenue. Spirit's Defense and Space business is conducted through several subsidiaries that provide space and defense prime contractors aerostructures and high-temperature materials capabilities.
'With our design and manufacturing capabilities in commercial aerospace, Spirit AeroSystems brings unique experience to the defense and space market that helps drive improved outcomes for our customers,' said Duane Hawkins, president of the Defense and Space division at Spirit AeroSystems, Inc. 'As a tier-one aerospace supplier, defense and space are natural markets for us to serve. We know how to help our customers affordably design and manufacture aerostructures, and we bring expertise working with advanced materials. Our rapid growth in defense and space in the past 16 months tells us our customers see value in what we offer as we partner with them on next-generation platforms.'
As part of its commitment to driving affordable programs, Spirit is investing in new capabilities and processes to help customers deliver better solutions. Examples of Spirit's investments that improve cost management and production efficiencies for the defense and space market include:
To learn more about Spirit's defense and space solutions and recent growth, visit our website.
About Spirit AeroSystems
Spirit AeroSystems is one of the world's largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company's core products include fuselages, integrated wings and wing components, pylons, and nacelles. Also, Spirit serves the aftermarket for commercial and business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the U.S., U.K., France, Malaysia and Morocco. More information is available at www.spiritaero.com.
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