Spirit AeroSystems Holdings Inc.

06/23/2021 | Press release | Distributed by Public on 06/23/2021 13:44

Spirit AeroSystems Adds Space as a Strategic Focus

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:

  • Advanced manufacturing: Across all facilities, Spirit entities are is developing engineering principles, incorporating digital efforts, automating repetitive processes, creating operational review processes, and incorporating new tools and equipment, like Spirit Exact®, to help advance next-generation defense and space programs.
  • Design & build: By leveraging engineering expertise in designing for manufacturability with integrated product teams, Spirit entities can drive efficiencies early in the manufacturing process to keep costs low, meet schedules, and ensure production volumes.
  • Capacity: Spirit entities are restructuring its facilities to increase its capacity and drive new efficiencies by simplifying their supply chain, creating the Global Digital Logistics Center and the national defense prototyping center, automating repetitive processes and investing in assembly technology.
  • Driving cost reductions in hypersonic programs: Spirit believes thermal protection system materials, an area of significant cost in hypersonic solutions, can be reduced substantially by leveraging efficiencies of scale, determinant assembly, automation and employing world-class supply chain processes.
  • Adaptable capabilities: Spirit entities are investing in flexible industrial base capabilities to allow hypersonic programs to be adaptable and begin the transition to operational weapons systems. As a result, Spirit entities can deliver customizable material solutions that can be optimized for various applications.

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.

Haley Beattie
+44 7720 638746
[email protected]

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