Oshkosh Corporation, a global industrial technology company, specializes in the design, development, and manufacturing of purpose-built vehicles and equipment, serving the postal, firefighting, refuse and recycling collection, construction, aviation, and defense industries.
The company is an innovator, developing and leveraging technologies across its portfolio in the areas of electrification, autonomy, and connectivity. The company has three reportable segments: Access, Vocational, and Defense...
Oshkosh Corporation, a global industrial technology company, specializes in the design, development, and manufacturing of purpose-built vehicles and equipment, serving the postal, firefighting, refuse and recycling collection, construction, aviation, and defense industries.
The company is an innovator, developing and leveraging technologies across its portfolio in the areas of electrification, autonomy, and connectivity. The company has three reportable segments: Access, Vocational, and Defense.
The Access segment designs and manufactures access and material handling equipment for use in a wide range of construction, industrial, agricultural, vegetation management, and maintenance applications to safely position workers and materials at height under the brands JLG Industries, Inc., and its wholly-owned subsidiaries (JLG), and SkyTrak. The Access segment's customer base includes equipment rental companies, construction contractors, manufacturing companies, and home improvement centers. The Access segment also includes Jerr-Dan towing and recovery vehicles (wreckers, rotators, and carriers).
The Vocational segment includes the Pierce, Maxi-Metal, AeroTech, Oshkosh Airport Products, McNeilus, IMT, Frontline Communications, and Oshkosh S-Series businesses. The Pierce and Maxi-Metal businesses design and manufacture commercial and custom fire apparatus. AeroTech designs and manufactures airport ground support equipment and gate equipment, and provides baggage and facility airport services. Oshkosh Airport Products designs and manufactures aircraft rescue and firefighting (ARFF) vehicles. McNeilus designs and manufactures refuse and recycling collection vehicles and components. The segment also includes IMT-branded field service vehicles and truck-mounted cranes, Frontline Communications-branded simulators, command vehicles, and other communication vehicles, and Oshkosh S-Series front-discharge concrete mixer vehicles. Vocational segment sales are made primarily to municipal and commercial customers in the Americas.
The Defense segment designs, manufactures, and sustains best-in-class specialty vehicles and mobility systems for the U.S. Department of Defense (DoD) under the Oshkosh Defense brand, and exports its products to approved foreign customers. This segment also includes the U.S. Postal Service (USPS) contract to produce the Next Generation Delivery Vehicle (NGDV). The contract allows for the delivery of up to 165,000 vehicles over a 10-year period.
Business Strategy
The company's business strategy is grounded in its purpose of making a difference in the lives of the people in its communities who do tough work. The strategy is reflected in three simple words: Innovate, Serve, and Advance.
Innovate: The company innovates customer solutions by combining technology and operational strength to empower and protect the everyday hero. The company is developing and integrating advanced technologies to expand production output, improve profit margins, and fulfill its purpose in areas, such as electrification, autonomy, and connected products.
Serve: The company serves and supports customers with a relentless focus throughout the product lifecycle.
Advance: The company advances by expanding into new markets and geographies to move the world forward.
Products
Oshkosh Corporation is focused on the following purpose-built vehicle and equipment markets:
Access segment: JLG is a designer and manufacturer of aerial work platforms and telehandlers used in a wide variety of construction, industrial, agricultural, vegetation management, and maintenance applications to safely position workers and materials at height. JLG also offers a broad range of parts and accessories, including technical support, training, and reconditioning services. Access customers include equipment rental companies, distributors, construction contractors, manufacturing companies, and home improvement centers. JLG's products are marketed worldwide through independent rental companies and distributors that purchase these products and then rent or sell them, and provide service support, as well as through other sales and service branches or organizations.
JLG also arranges equipment financing and leasing solutions for its customers, primarily through third-party funding arrangements with independent financial companies, and occasionally provides credit support in connection with these financing and leasing arrangements. Financing arrangements that JLG offers or arranges include various types of rental fleet loans and leases, as well as floor plan and retail financing. Terms of these arrangements vary depending on the type of transaction, but typically range from 36 to 72 months, and generally require the customer to be responsible for maintenance of the equipment and to bear the risk of damage to or loss of the equipment.
In addition to manufacturing equipment, Jerr-Dan provides its customers with one-stop service support and generates revenue from the installation of equipment, as well as the sale of chassis and service parts.
Vocational segment: Through Pierce and Maxi-Metal, the company is a North American designer and manufacturer of municipal fire apparatus assembled on both commercially available and custom chassis, designed and manufactured to meet the demanding requirements of firefighters. Pierce’s engineering expertise allows it to design its vehicles to meet stringent industry guidelines and government regulations for safety and effectiveness. Pierce primarily serves domestic municipal customers, but also sells fire apparatus to the DoD, airports, universities, and industrial companies, and in international markets. Pierce’s history of innovation, research, and development in consultation with firefighters has resulted in a broad product line that features a wide range of innovative, high-quality custom and commercial firefighting equipment with advanced fire suppression capabilities. In an effort to be a single-source supplier for its customers, Pierce offers a full line of custom and commercial fire apparatus and emergency vehicles, including pumpers, aerial platforms, ladder and tiller trucks, tankers, light-, medium-, and heavy-duty rescue vehicles, wildland rough terrain response vehicles, and other emergency response vehicles.
Through AeroTech, the company is a designer and manufacturer of aviation ground support products and gate equipment for commercial airlines, airports, air freight carriers, ground handling, and military customers. AeroTech specializes in special purpose aviation ground support products, such as cargo loaders, push-back tractors, and deicer trucks for airlines and air cargo companies. Terminal facilities and commercial aviation are supported by the Jetway passenger boarding bridge and related air and power products. AeroTech's Airport Services business specializes in the maintenance, servicing, and operation of key airport facility systems, such as HVAC, passenger boarding systems, and baggage systems, as well as leveraging asset management technology, including its iOPS Intelligent Monitoring System, to support efficient airport operations. AeroTech Airport Services also provides contracting, project management, design, and installation services for the critical and complex baggage systems and other key facility operations.
Through Oshkosh Airport Products, the company is a player in the design and sale of ARFF vehicles to domestic and international airports. These highly-specialized vehicles are required to be in service at airports worldwide to support commercial airlines in the event of an emergency. Many of the largest airports in the United States are served by the company’s ARFF vehicles. The U.S. government also maintains a fleet of ARFF vehicles that are used to support military operations throughout the world. Internationally, the company’s vehicles serve airports worldwide, with recent deliveries to airports in Latin America, the Middle East, the United Kingdom, and China.
Through McNeilus, the company is a designer and manufacturer of refuse and recycling collection vehicles for the waste services industry throughout the Americas.
Through IMT, the company is a North American designer and manufacturer of field service vehicles and truck-mounted cranes for the construction, equipment dealer, rental, building supply, utility, tire service, railroad, and mining industries.
Through its Frontline Communications business, the company is a manufacturer, system designer, and integrator of command trucks and military simulator shelters and trailers. The company’s vehicles have supported disaster relief efforts for the Federal Emergency Management Agency (FEMA) and everyday incident response for federal and local law enforcement, emergency management agencies, and fire departments.
Through the company’s Oshkosh S-Series business, the company is a designer and manufacturer of front-discharge concrete mixers for the concrete ready-mix industry.
The company offers two- to fifteen-year municipal lease financing programs to its Pierce customers in the U.S. through the Pierce Financial Solutions program, provided by PNC Bank. Financing programs include competitive lease financing rates, flexible finance arrangements, and the ease of one-stop shopping to meet the financing needs of Pierce customers. The company typically provides credit support in connection with these financing and leasing arrangements. The company also arranges equipment financing and leasing solutions for its other Vocational segment customers, primarily through third-party funding arrangements with independent financial companies, and occasionally provides credit support in connection with these financing and leasing arrangements.
Defense segment: Oshkosh Defense has designed and sold products to the DoD for over 100 years, and also exports its products to approved foreign customers. By successfully responding to the DoD’s changing vehicle requirements, Oshkosh Defense has become a manufacturer of heavy, medium, and light tactical wheeled vehicles and related sustainment services, as well as a provider of next generation combat vehicle solutions for mobility, reliability, and lethality, for the DoD. Oshkosh Defense designs and manufactures vehicles that perform a variety of demanding tasks, such as hauling combat vehicles, missile systems, ammunition, fuel, troops, and cargo for a broad range of missions. Oshkosh Defense’s proprietary product line of military heavy-payload tactical wheeled vehicles includes the Heavy Expanded Mobility Tactical Truck (HEMTT), Heavy Equipment Transporter (HET), the Palletized Load System (PLS), and the Logistic Vehicle System Replacement (LVSR). Oshkosh Defense also manufactures the L-ATV, light combat tactical all-terrain vehicle (domestically known as the JLTV), designed to protect, sustain, and provide mobility for personnel and payloads across the full spectrum of military operations.
Oshkosh Defense was selected by the USPS to build their NGDV under an indefinite delivery, indefinite quantity (IDIQ) contract that allows the USPS to purchase up to 165,000 units over ten years. Oshkosh Defense’s offering provides the USPS with both zero-emission battery electric vehicles (BEVs) and fuel-efficient, low-emission internal combustion engine (ICE) vehicles. Oshkosh Defense began delivering vehicles on this contract in the first half of 2024. Through December 2024, the USPS has placed orders for 51,500 NGDVs.
Marketing, Sales, Distribution, and Service
The company’s flexible distribution model focuses on meeting customers on their terms with turnkey delivery, training, and support over the life of the vehicle. The company backs its products with rapid parts shipment, enabled by predictive tools that ensure inventory availability, and service technicians are available to domestic customers 365 days a year.
U.S. dealers and representatives enter into agreements with the company that allow for termination by either party generally upon 90 days’ notice, subject to applicable laws. Dealers and representatives, except for those utilized by JLG and IMT, are generally not permitted to market and sell competitive products.
Access segment: JLG’s products are marketed across six continents through rental companies and distributors that purchase products and then rent or sell them, and provide service support, as well as through other company-owned sales and service branches. JLG maintains a broad worldwide internal sales force. Sales employees are dedicated to specific major customers, channels, or geographic regions. JLG’s international sales employees are spread among international sales and service offices throughout the world.
The company markets its Jerr-Dan-branded carriers, wreckers, and rotators through its extensive network of independent distributors.
Vocational segment: The company’s Pierce’s fire apparatus is sold through an extensive network of independent dealers with hundreds of sales representatives in the U.S. and Canada, which combine broad geographical reach with high frequency of contact with fire departments and municipal government officials. These dealers are supported by product and marketing support professionals and contract administrators at Pierce. After a sale, Pierce’s nationwide local parts and service capability is available to help municipalities maintain peak readiness for this vital municipal service. Pierce also sells fire apparatus to international municipal and industrial fire departments through a network of international dealers.
The company markets its Maxi-Metal vehicles through a combination of direct sales representatives and a network of dealers. Some of these representatives and dealers also handle Pierce products.
AeroTech sales are conducted through a team of direct sales personnel strategically located across the globe, and through an extensive network of sales agents.
The company markets its Oshkosh-branded ARFF vehicles through a combination of direct sales representatives and dealerships domestically, and an extensive network of representatives and distributors in international markets. Some of these international representatives and distributors also handle Pierce products.
The company markets its McNeilus-branded refuse and recycling collection vehicles through a network of dealers and sales representatives. As part of its continuous improvement mission, McNeilus looks at ways to enhance its market share and the customer experience. As a result, in 2024, the company changed its distribution method for non-fleet refuse and recycling collection vehicle customers to a network of dealers.
IMT distributes its products through a combination of direct sale representatives and a wide network of distributors in more than one hundred locations worldwide. International distributors are primarily located in Canada, Central and South America, Australia, and Asia, and are primarily focused on mining and construction markets.
The company markets its Frontline Communications-branded command vehicles and shelters through both sales representatives and a network of dealers that are directed at commercial and government customers. Some of these representatives and dealers also handle Pierce products.
Defense segment: While Oshkosh Defense sells a substantial portion of its domestic defense products directly to principal branches of the DoD, it also sells defense products to numerous international governments around the globe. Oshkosh Defense locates its business development, consultants, and engineering professionals near its customers’ principal commands, both domestically and internationally. Oshkosh Defense sells and services defense products to approved international governments as Direct Commercial Sales or Foreign Military Sales via U.S. government channels. Oshkosh Defense supports international sales through international sales offices, as well as through dealers, distributors, and representatives.
Oshkosh Defense maintains a parts distribution warehouse in Milwaukee, Wisconsin, to fulfill stringent parts delivery schedule requirements, as well as satellite facilities near DoD bases in the U.S. and abroad.
Research and Development
The company’s research and development costs charged to expense totaled $169.1 million in 2024.
Trademarks
The ‘Oshkosh,’ ‘JLG,’ ‘Pierce,’ ‘Maxi-Metal,’ ‘McNeilus,’ ‘Jerr-Dan,’ ‘Frontline,’ ‘IMT,’ ‘Oshkosh S-Series,’ ‘Oshkosh Defense,’ ‘Pratt Miller,’ ‘Command Zone,’ ‘TAK-4,’ ‘PUC,’ ‘Hercules,’ ‘Husky,’ ‘Ascendant,’ ‘SkyTrak,’ ‘DaVinci,’ and ‘Volterra’ trademarks and related logos are trademarks or registered trademarks of the company.
Competition
Access segment
JLG operates in the global construction, maintenance, agricultural, vegetation management, and industrial equipment markets. JLG’s competitors range from some of the multinational construction equipment manufacturers to small single-product niche manufacturers. Within this global market, competition for sales of aerial work platform equipment includes Genie Industries, Inc. (a subsidiary of Terex Corporation), Skyjack Inc. (a subsidiary of Linamar Corporation), Haulotte Group, Xuzhou Construction Machinery Group Co., Ltd. (XCMG), Zhejiang Dingli Machinery Co., Ltd., and numerous other manufacturers. Global competition for sales of telehandler equipment includes J C Bamford Excavators Ltd., the Manitou Group, Merlo SpA, Genie Industries, Inc., Skyjack Inc., and numerous other manufacturers.
Vocational segment
The company produces and sells custom and commercial firefighting vehicles in North America and abroad under the Pierce and Maxi-Metal brands. Competitors for firefighting vehicles include Rosenbauer International AG, REV Group, Inc., and numerous smaller, regional manufacturers.
AeroTech passenger boarding bridges are produced under the Jetway brand. Competitors include China International Marine Containers (Group) Co., Ltd., and TK Elevator. The company produces AeroTech GSE products under numerous brands. The principal competition for ground support equipment includes TLD Group and ITW GSE Inc.
Airport Products manufactures ARFF vehicles for sale in the U.S. and abroad. Oshkosh’s primary competitors for ARFF vehicle sales are Rosenbauer International AG and Albert Ziegler GmbH.
The company produces refuse and recycling collection vehicles for North America and international markets under the McNeilus brand. Competitors in the refuse and recycling collection vehicles market include Environmental Solutions Group (a subsidiary of Terex Corporation), New Way Trucks, Labrie Enviroquip Group (owned by Wynnchurch Capital), and other regional competitors.
IMT is a manufacturer of field service vehicles and truck-mounted cranes for the construction, equipment dealer, rental, building supply, utility, tire service, railroad, and mining industries. IMT’s principal field service vehicle competition is from Auto Crane Company (owned by Ramsey Industries, Inc.), Stellar Industries, Inc., Maintainer Corporation of Iowa, Inc., the Knapheide Manufacturing Company, and other regional companies. Competition in truck-mounted cranes comes primarily from European companies, including Palfinger AG, Cargotec Corporation, and Fassi Group SpA.
The company also produces and sells command vehicles in the U.S. and abroad under the Frontline Communications brand. The principal competition for command vehicles is LDV, Inc., MBF Industries, Inc., Nomad Global Communication Solutions, Incorporated, Farber Specialty Vehicles, Inc., and Matthews Specialty Vehicles, Inc.
Defense segment
Oshkosh Defense produces heavy, medium, and light-payload tactical wheeled vehicles and provides next generation combat vehicle solutions for militaries around the world. Competition for sales of these vehicles includes, among others, Navistar Defense LLC (a subsidiary of Cerberus Capital Management, LP), General Dynamics Corporation, AM General LLC (a subsidiary of KPS Capital Partners, LP), Mack Defense LLC, and BAE Systems plc.
Oshkosh Defense also produces postal delivery vehicles for the USPS. Competition for sales of delivery vehicles includes, among others, Utilimaster (a subsidiary of The Shyft Group), Morgan Olson (a subsidiary of JB Poindexter & Co., Inc.), Workhorse Group Incorporated, and Rivian Automotive Inc.
Government Contracts
Approximately 20% of the company's sales for 2024 were made to the U.S. government, a substantial majority of which were under multi-year contracts and programs in the defense vehicle market.
Seasonal Nature of Business
The company’s Access segment tends to be seasonal, with an increase in sales occurring in the spring and summer months that constitute the traditional construction season in the northern hemisphere. Sales are generally lower in the three months ended December 31 in all segments due to the relatively high number of holidays in the United States, which reduce available production and shipping days.
History
The company was founded in 1917. The company was formally known as Oshkosh Truck Corporation and changed its name to Oshkosh Corporation.
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