Parker-Hannifin Corporation Form 10-K filed on Aug-22-2024 (capitaliq.com)
Parker-Hannifin Corporation designs, manufactures, and provides aftermarket support for highly engineered solutions that create value for customers primarily in aerospace & defense, in-plant & industrial equipment, transportation, off-highway, energy, and HVAC & refrigeration markets around the world.
Markets
The company’s technologies and solutions provide value for customers across its market verticals including aero...
Parker-Hannifin Corporation Form 10-K filed on Aug-22-2024 (capitaliq.com)
Parker-Hannifin Corporation designs, manufactures, and provides aftermarket support for highly engineered solutions that create value for customers primarily in aerospace & defense, in-plant & industrial equipment, transportation, off-highway, energy, and HVAC & refrigeration markets around the world.
Markets
The company’s technologies and solutions provide value for customers across its market verticals including aerospace & defense, in-plant & industrial equipment, transportation, off-highway, energy, and HVAC and refrigeration. The company serves several hundred thousand OEM and distribution customer locations.
Reportable Segments
The company operates through two segments, Diversified Industrial and Aerospace Systems.
Diversified Industrial
This segment, which is an aggregation of several business units, sells highly engineered differentiated products to both original equipment manufacturers (OEMs) and distributors who serve the aftermarket replacement markets. The major market verticals served by the company’s diversified industrial segment includes aerospace & defense, off-highway, in-plant & industrial equipment, energy, transportation, and HVAC & refrigeration
Aerospace Systems
This segment sells highly engineered, differentiated airframe and engine components and systems to OEMs and aftermarket parts and maintenance directly to end users primarily in the commercial aerospace and defense market verticals. The major market platforms served by the company’s Aerospace Systems Segment includes commercial transport, regional transport, defense fixed wing, helicopters, business jets, and energy.
Principal Products and Methods of Distribution
The company offers hundreds of thousands of individual part numbers, and no single product contributed more than one percent to its total net sales for the year ended June 30, 2024.
Diversified Industrial segment: The company’s Diversified Industrial Segment products consist of a broad range of motion-control systems and components, which include active & passive vibration control; high purity sealing; coatings; high temperature sealing; cryogenic valves & fittings; HVAC/R controls & monitoring; elastomeric, fabric reinforced, metal, & precision cut seals; hydrogen & natural gas filters; electric & hydraulic pumps & motors; industrial air & gas filtration; electric & hydraulic valves; miniature pumps & valves; electromagnetic interface shielding; pneumatic actuators, regulators & valves; electromechanical & hydraulic actuators; power take offs; electronics, drives & controllers; process filtration solutions; engine filtration solutions; rubber to substrate adhesives; fluid condition monitoring; sensors & diagnostics; fluid conveyance hose & tubing; structural adhesives; high pressure connectors, fittings, valves & regulators; thermal management; and high purity fittings, valves & regulators.
Diversified Industrial segment products include standard products, as well as custom products which are engineered and produced to OEM specifications for application to particular end products. Standard and custom products are also used in the replacement of original products. The company markets its Diversified Industrial Segment products primarily through field sales employees and independent distributors located throughout the world.
Aerospace Systems segment: The company’s Aerospace Systems Segment products are used in commercial and defense airframe and engine programs and include avionics; fuel systems & components; electric & hydraulic braking systems; fuel tank inerting systems; electric power; hydraulic pumps & motors; electromechanical actuators; hydraulic valves & actuators; engine exhaust systems & components; pneumatics; fire detection & suppression; seals; flight control systems; sensors; fluid conveyance; and thermal management.
The company markets its Aerospace Systems Segment products through its regional sales organizations, which sell directly to OEMs and end users throughout the world.
Competition
While the company’s primary global competitors include Bosch Rexroth AG, Danaher Corporation, Danfoss A/S, Donaldson Company, Inc., Emerson Climate Technologies, Inc., Emerson/ASCO, Festo AG & Co., Freudenberg-NOK, Gates Corporation, IMI/Norgren, SMC Corporation, Swagelok Company, and Trelleborg AB, none of these businesses compete with every group or product in its Diversified Industrial Segment.
The company is one of the market leaders in most of the major markets for its most significant Aerospace Systems Segment products, primary global competitors for these products include Crane Co., Eaton Corporation plc, Honeywell International, Inc., Moog Inc., RTX Corporation, Safran S.A., Senior plc, Triumph Group, Inc., and Woodward, Inc.
History
Parker-Hannifin Corporation was founded in 1917. The company was incorporated in Ohio in 1938.