Astronics Corporation (‘Astronics’) provides advanced technologies to the global aerospace, defense and electronics industries.
The company’s products and services include advanced, high-performance electrical power generation, distribution, and motion systems, lighting and safety systems, avionics products, systems, and certification, aircraft structures, and automated test systems. The company has principal operations in the United States (‘U.S.’), Canada, and France, as well as engineering o...
Astronics Corporation (‘Astronics’) provides advanced technologies to the global aerospace, defense and electronics industries.
The company’s products and services include advanced, high-performance electrical power generation, distribution, and motion systems, lighting and safety systems, avionics products, systems, and certification, aircraft structures, and automated test systems. The company has principal operations in the United States (‘U.S.’), Canada, and France, as well as engineering offices in Ukraine and India. The company’s operation in Ukraine is a small engineering office.
Segments
The company has two reportable segments, Aerospace and Test Systems.
The company’s Aerospace segment has principal operating facilities in the United States, Canada, and France, and an engineering office in Ukraine. The company’s Test Systems segment has principal operating facilities in the United States, and an engineering office in India.
The company’s Aerospace segment designs and manufactures products for the global aerospace industry. Product lines include lighting and safety systems, electrical power generation, distribution, and seat motion systems, aircraft structures, avionics products, systems certification, and other products. The company’s primary Aerospace customers are the airframe manufacturers (‘OEM’) that build aircraft for the commercial transport, military, and general aviation markets, suppliers to those OEMs, aircraft operators, such as airlines, suppliers to the aircraft operators, and branches of the U.S. Department of Defense (‘USDOD’).
The company’s Test Systems segment designs, develops, manufactures, and maintains automated test systems that support the aerospace and defense, and mass transit industries, as well as training and simulation devices for both commercial and military applications. In the Test Systems segment, the company’s products are sold to a global customer base, including OEMs and prime government contractors for both electronics and military products.
Products and Customers
The company’s Aerospace segment designs and manufactures products for the global aerospace industry. Product lines include lighting and safety systems, electrical power generation, distribution, and seat motion systems, aircraft structures, avionics products, systems certification, and other products. The company’s Aerospace customers are the airframe manufacturers (‘OEM’) that build aircraft for the commercial transport, military, and general aviation markets, suppliers to those OEMs, aircraft operators, such as airlines, suppliers to the aircraft operators, and branches of the U.S. Department of Defense. During 2024, this segment’s sales were divided 74% to the commercial transport market, 12% to the military aircraft market, 11% to the general aviation market, and 3% to other markets. Most of this segment’s sales are a result of contracts or purchase orders received from customers, placed on a day-to-day basis, or for a single year procurement rather than long-term multi-year contract commitments. On occasion, the company does receive contractual commitments or blanket purchase orders from its customers covering multiple-year deliveries of hardware to its customers.
The company’s Test Systems segment designs, develops, manufactures, and maintains automated test systems that support the aerospace and defense, communications, and mass transit industries, as well as training and simulation devices for both commercial and military applications. In the Test Systems segment, the company’s products are sold to a global customer base, including OEMs and prime government contractors for both electronics and military products. The nature of the company’s Test Systems business is such that it pursues large, often multi-year, projects.
The company has a significant concentration of business with one major customer, The Boeing Company (‘Boeing’). Sales to Boeing accounted for 10.2% of sales in 2024. Sales to Boeing are primarily in the Aerospace segment.
Strategy
The company’s strategy is to increase its value by developing technologies and capabilities either internally or through acquisition, and use those capabilities to provide innovative solutions to its targeted markets, where its technology can be beneficial.
Research and Development Expenses
The company’s research and development expenses amounted to $52.1 million in 2024.
History
Astronics Corporation was founded in 1968. The company was incorporated in 1968.