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Semiconductor

Meggitt PLC

Company Profile Analysis

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Meggitt PLC - Semiconductor showcase

Year Founded & Workforce

1946-12-31

11,230 Employees

Industry

Semiconductor

Services

M

Meggitt PLC Overview

Company Headquarters: UK

Founded: 1947

Workforce: ~11,230

Company Working: Meggitt PLC (Meggit) designs and manufactures components for the aerospace, defense, and energy markets. It operates its business through five segments, namely Meggitt aircraft braking systems, Meggitt control systems, Meggitt polymers & composites, Meggitt sensing systems, and Meggitt equipment group. The Meggitt aircraft braking systems segment produces wheels, brakes and brake control systems for business jets and military and regional aircraft. The Meggitt control systems segment supplies aerospace fire protection & control systems, aerospace & industrial fuel, bleed air control valves, heat exchangers, high pressure ducting and ground refueling products. The Meggitt polymers & composites segment designs and develops engine and aerodynamic seals, flexible fuel tanks and fuel systems for military and civil aircraft, advanced composite engine components, radomes & secondary structures, electro-thermal ice protection systems, sub-assemblies, interior panels, and accessories. The Meggitt sensing systems segment offers sensing and monitoring solutions for rotating machinery. Its products include condition-based monitoring systems, sensors, flame monitoring systems, fluid monitoring systems, measurement systems, ignition systems, and onboard electronics. The Meggitt equipment group segment includes heat transfer equipment for hydrocarbon processing, electromechanical fans, pumps, compressors, electric motors, and controllers & training systems. Geographically, the company operates in the US, the UK and the rest of the world.

Strategy

Meggitt follows both organic and inorganic strategies for its growth in the market. The company is highly focused towards the development of smart engineering solutions for commercial aero-engines to sustain in severe conditions. It also invests a major share of its revenue in product life cycle, research and development, and maintenance and support activities to expand its market reach. The company also emphasizes strategic partnerships and agreements to gain a competitive advantage over its competitors, which helps it establish a strong presence in the market.

Company Snapshot

$2.43M

Revenue

11,230

Employees

1946-12-31

Founded

UK

Headquarters

SWOT Analysis

Strengths

  • Strong cash flow
  • Centralised work processes
  • Over 160 years of experience in the aerospace industry
  • Strong customer relationships in the aftermarket parts market
  • Aftermarket parts accounted for about 59% of the total revenue in 2017
  • Diverse service portfolio
  • Wide global customer base
  • Extensive distribution network
  • Global presence
  • Established customer relationships
  • Strong product portfolio

Weaknesses

  • Weak financial planning
  • Poor demand forecasting
  • Largely dependent on a few customers such as Pratt & Whitney and Turkish Technic
  • Declining investments in research & development
  • Dependency on the UK market
  • Fluctuating financial performance
  • Dependency on the US market

Opportunities

  • Government agreemnets for free trade
  • Rising e-commerce business
  • Decreasing transportation costs
  • Expansion of aftermarket parts business in Asia-Pacific through contracts with airlines and MRO providers
  • Rise in outsourcing of commercial aircraft maintenance by airlines
  • Strategic mergers & acquisitions
  • Expansion opportunities in Latin America and the Middle East & Africa
  • Greater strategic engagement potential for improved execution

Threats

  • High labor wages in China
  • Changing environment regulations
  • Competitors with innovative product and service portfolios
  • Intense competition in Asia-Pacific due to presence of several aircraft service providers
  • Fluctuating currency exchange rates
  • Strict government regulations
  • Fluctuating currency rates

Key Developments

DateApproachDevelopment
September 2018AgreementMeggitt PLC entered into an agreement with Korea Aerospace Industries (KAI) for the development of high-temperature electronic Engine Vibration Monitoring Unit (EVMU) and the delivery of prototypes for the KF-X fighter jet.
November 2017AgreementMeggitt Sensing Systems, a division of Meggitt PLC, entered into an agreement with Siemens to supply accelerometers and proximity sensors for the latter’s rotating machinery portfolio. As a part of this agreement, Meggitt’s vibration sensing package is integrated on Siemens’ gas turbines and machinery as a standard fit and can be used for power generation and oil & gas markets.
January 2019ContractMeggitt signed a 10-year contract amounting to USD 750 million with Pratt & Whitney to supply parts for the F135 and F119 aircraft engines.
December 2018ContractMeggitt signed a long-term contract for five years with Turkish Technic for the supply of MRO and spares services. Meggitt will provide products and services such as high-performance sensing systems, fire protection and control, fluid control, pneumatic, thermal management, and electro-mechanical equipment.
July 2018ContractMeggitt signed a long-term contract with the engine aftermarket division of Pratt & Whitney. As per the terms of the contract, Meggitt would supply MRO services and provide support for components and accessories for the PW2000, V2500, and PW4000 aircraft engines.

Product Offering

  • Meggitt PLC
    • Global Aircraft Aftermarket Parts Market

Financial Performance

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About the Author

Wantstats Research Team

Wantstats' research desk profiles Meggitt PLC as part of our ongoing coverage of the Semiconductor sector, drawing on public company data, filings, and market intelligence.

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Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Meggitt PLC

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