aerospace companies
TRANSCRIPT
54
8
-14
AU
GU
ST
20
06
F
LIG
HT
IN
TE
RN
AT
ION
AL
w
ww
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gh
tglo
ba
l.co
m
ww
w.fl
ig
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al.c
om
F
LIG
HT
IN
TE
RN
AT
ION
AL
8-1
4 A
UG
US
T 2
00
6 5
5
A
eros
pace
Top
100
FL
IGH
T IN
TE
RN
AT
ION
AL
TO
P 1
00
AE
RO
SP
AC
E C
OM
PA
NIE
S
Ran
k (0
5) C
om
pan
y (c
ou
ntr
y)
Aer
o s
ales
($m
)
Tota
l sa
les
($m
) O
per
atin
g r
esu
lt
($m
) O
per
atin
g m
arg
in
Cap
ital
R
OC
E (
%)
Per
son
nel
Sal
es p
er e
mp
loye
e ($
) C
om
men
ts
Div
isio
ns
2005
20
04
2005
g
row
th
2005
g
row
th
2004
20
05
2004
em
plo
yed
20
05
2004
2
005
hea
dco
un
t g
row
th
200
5 g
row
th
1 (1
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oei
ng
(U
SA
) 5
4,84
5
52,
457
5
4,84
5
5%
2,81
2 40
%
2,0
07
5.1%
3.
8%
31,8
70
9%
6%
153
,000
-4
%
358,
464
-4
%
Com
mer
cial
Aer
ospa
ce
22,6
51
8%
1,43
2 90
%
753
6.
3%
3.6%
Inte
grat
ed D
efen
ce S
yste
ms
30
,791
1%
3,
890
33%
2
,925
12
.6%
9.
6%
Boe
ing
Cap
ital/O
ther
1,40
3
47%
-2
,510
-1,6
71
-178
.9%
-1
75.0
%
2 (2
) E
AD
S (
Net
herla
nds)
4
2,50
0
39,
489
4
2,52
2
8%
3,54
5 17
%
3,0
25
8.3%
7.
7%
48,1
12
7%
5%
113
,210
2%
3
75,6
03
2%
Incl
udes
acq
uisi
tion
of N
okia
’s P
MR
arm
and
acq
uisi
tion
of A
tlas
Ele
ktro
nik
with
Thy
ssen
Kru
pp
Airb
us
27
,275
12
%
2,86
8 20
%
2,3
87
10.5
%
9.8%
-
-
Mili
tary
Tra
nspo
rt A
ircra
ft
658
-5
1%
60
85%
3
2
9.1%
2.
4%
-
-
Eur
ocop
ter
3,
825
15
%
264
5%
250
6.
9%
7.5%
-
-
Def
ence
and
Sec
urity
Sys
tem
s
6,3
73
3%
250
-11%
2
81
3.9%
4.
6%
-
-
Spa
ce
*
3,34
1
4%
72
544%
1
1
2.2%
0.
3%
-
-
Oth
er B
usin
ess
1,
027
-3
%
-213
-2
0.7%
3 (3
) L
ock
hee
d M
arti
n (
US
A)
37,
213
3
5,52
6
37,
213
5%
2,
986
43%
2
,089
8.
0%
5.9%
18
,316
16
%
12%
1
35,0
00
4%
275,
652
4%
In
clud
es a
cqui
sitio
ns o
f S
ytex
Gro
up,
Sta
sys,
Coh
eren
t Tec
hnol
ogie
s an
d In
sys
Gro
up
Aer
onau
tics
11,6
72
-1%
99
4 11
%
899
8.
5%
7.6%
-
-
Ele
ctro
nic
Sys
tem
s
10
,580
9%
11
13
15%
9
69
10.5
%
10.0
%
-
-
Spa
ce S
yste
ms
6,
820
7%
60
9 25
%
489
8.
9%
7.7%
-
-
Inte
grat
ed S
yste
ms
& S
olut
ions
4,
131
7%
36
5 9%
3
34
8.8%
8.
7%
-
-
Info
rmat
ion
& T
echn
olog
y S
ervi
ces
4,01
0
5%
351
23%
2
85
8.8%
7.
5%
-
-
4 (4
) N
ort
hro
p G
rum
man
(U
SA
) 3
0,67
9
29,
624
3
0,72
1
3%
2,17
8 9%
2
,006
7.
1%
6.7%
26
,240
8%
7%
1
23,6
00
-1%
2
48,5
52
-1%
In
clud
es a
cqui
sitio
ns o
f C
onfl u
ent
RF
Sys
tem
s an
d In
tegi
c
Ele
ctro
nic
Sys
tem
s
6,
042
2%
71
0 6%
6
70
11.8
%
11.3
%
-
-
Info
rmat
ion
Tech
nolo
gy
4,99
9
2%
355
18%
3
01
7.1%
6.
2%
-
-
Mis
sion
Sys
tem
s
4,95
9
38
1 19
%
321
7.
7%
6.9%
-
-
Shi
p S
yste
ms
5,78
4
-7%
24
1 -3
8%
389
4.
2%
6.2%
-
-
Inte
grat
ed S
yste
ms
5,
550
18
%
474
15%
4
12
8.5%
8.
8%
-
-
Spa
ce T
echn
olog
y
3,34
5
4%
255
15%
2
22
7.6%
6.
9%
-
-
5 (5
) B
AE
Sys
tem
s (U
K)
28,
023
2
4,22
9
28,
023
17
%
2,14
9 16
%
1,8
62
7.7%
7.
7%
21,0
64
10%
12
%
100
,100
37
%
279
,946
37
%
Pro
gram
mes
5,
126
27
%
242
1,23
0%
18
4.
7%
0.5%
-
-
Cus
tom
er S
olut
ions
& S
uppo
rt
5,31
5
2%
762
-16%
9
11
14.3
%
17.4
%
-
-
Com
mer
cial
Aer
ospa
ce
5,87
7
11%
32
5 -1
1%
368
5.
5%
6.9%
-
-
Inte
grat
ed S
yste
ms
and
Par
tner
ship
s
3,
351
-9
%
198
15%
1
74
5.9%
4.
7%
-
-
Ele
ctro
nics
, In
telli
genc
e &
Sup
port
6,
722
21
%
589
27%
4
69
8.8%
8.
4%
-
-
Land
& A
rmam
ents
2,
309
16
3%
76
0%
-15
3.
3%
-1.7
%
-
-
In
clud
es U
nite
d D
efen
ce I
ndus
trie
s
HQ
/Ope
ratio
ns
125
-5
%
-44
-6
4
-34.
8%
-47.
9%
-
-
6 (6
) R
ayth
eon
(U
SA
) 2
3,43
7
21,
867
2
1,89
4
8%
1,68
7 22
%
1,3
88
7.7%
6.
9%
18,4
81
9%
7%
79,
900
1%
2
74,0
18
1%
Acq
uire
d U
TD
for
$39
mill
ion
in A
ugus
t 20
05
Inte
grat
ed D
efen
se S
yste
ms
3,80
7
10%
54
8 31
%
417
14
.4%
12
.1%
-
-
Inte
llige
nce
and
Info
rmat
ion
Sys
tem
s
2,50
9
7%
229
16%
1
98
9.1%
8.
5%
-
-
Mis
sile
Sys
tem
s
4,12
4
7%
431
-1%
4
36
10.5
%
11.3
%
-
-
Net
wor
k C
entr
ic S
yste
ms
3,20
5
5%
333
22%
2
74
10.4
%
9.0%
-
-
Spa
ce a
nd A
irbor
ne S
yste
ms
4,17
5
3%
606
7%
568
14
.5%
14
.0%
-
-
Tech
nica
l Ser
vice
s
1,
980
0%
14
6 -3
%
151
7.
4%
7.6%
-
-
Airc
raft
2,85
6
18%
14
2 12
5%
63
5.
0%
2.6%
-
-
Oth
er
781
16
%
-117
-40
-1
5.0%
-5
.9%
-
-
7 (7
) G
ener
al D
ynam
ics
(US
A)
20,
975
1
8,92
6
21,
244
11
%
1,94
4 0%
1
,941
9.
2%
10.2
%
12,6
84
15%
16
%
72,
200
3%
2
94,2
38
3%
Incl
udes
acq
uisi
tions
of
May
a V
iz, T
adpo
le C
ompu
ter
and
Itron
ix
Aer
ospa
ce
3,43
3
14%
49
5 26
%
393
14
.4%
13
.0%
-
-
Com
bat
Sys
tem
s
5,
021
14
%
576
10%
5
22
11.5
%
11.8
%
-
-
Mar
ine
Sys
tem
s
4,
695
-1
%
249
-15%
2
92
5.3%
6.
2%
-
-
Info
rmat
ion
Sys
tem
s an
d Te
chno
logy
7,
826
16
%
865
20%
7
18
11.1
%
10.7
%
-
-
8 (8
) U
nit
ed T
ech
no
log
ies
(US
A)
16,
479
1
4,73
7
42,
752
14
%
5182
20
%
4,3
01
12.1
%
11.5
%
30,5
80
17%
16
%
222
,200
6%
1
92,4
03
6%
Eng
ines
(P
ratt
& W
hitn
ey)
9,29
5
12%
14
49
34%
1
,083
15
.6%
13
.1%
-
-
Incl
udes
acq
uisi
tion
of R
ocke
tdyn
e P
ower
& P
ropu
lsio
n
Flig
ht S
yste
ms
(Sik
orsk
y, H
amilt
on S
tand
ard)
7,
184
12
%
925
18%
7
83
12.9
%
12.2
%
-
-
9 (9
) G
ener
al E
lect
ric
(US
A)
11,
904
1
1,09
4
149
,702
11
%
16,3
53
-3%
1
6,81
9
10.9
%
12.5
%
3
1,60
0
-90%
4
,737
,405
-9
0%
Airc
raft
Eng
ines
11
,904
7%
2,
573
15%
2
,238
21
.6%
20
.2%
-
-
10
(13)
Fin
mec
can
ica
(Ita
ly)
11,
491
8
,861
1
3,61
5
24%
91
4 58
%
578
6.
7%
5.3%
10
,794
8%
8%
5
6,60
3
15%
2
40,5
28
15%
In
clud
es f
orm
atio
n of
Eur
osys
tem
s
Aer
onau
tics
2,22
4
8%
206
42%
1
46
9.3%
7.
0%
1
1,19
8
4%
198
,601
4%
Spa
ce
914
-4
%
32
13%
2
9
3.5%
3.
0%
3
,194
-2
%
286
,065
-2
%
Hel
icop
ters
3,
000
71
%
338
109%
1
62
11.3
%
9.2%
8,5
31
-5%
3
51,6
16
-5%
In
clud
es a
cqui
sitio
n of
Wes
tland
fro
m G
KN
Def
ence
Ele
ctro
nics
3,
933
53
%
334
74%
1
93
8.5%
7.
5%
1
9,78
6
57%
1
98,7
88
57%
In
clud
es E
uros
yste
ms
Def
ence
Sys
tem
s
1,
421
0%
13
9 1,
144%
1
1
9.8%
0.
8%
4
,104
-1
%
346
,219
-1
%
11
(12)
Ho
ney
wel
l In
tern
atio
nal
(U
SA
) 1
0,49
7
9,7
48
27,
653
8%
3,
409
15%
2
,974
12
.3%
11
.6%
21
,864
16
%
13%
1
16,0
00
6%
238
,388
6%
Aer
ospa
ce I
nter
natio
nal
10,4
97
8%
1,70
3 15
%
1,4
79
16.2
%
15.2
%
-
-
Cov
er s
tory
fla8
- to
p 10
0 T
AB
LES
54
-55
fla8
- to
p 10
0 T
AB
LES
54
-55
16/8
/06
2:2
3:47
pm
16/8
/06
2:2
3:47
pm
56
8
-14
AU
GU
ST
20
06
F
LIG
HT
IN
TE
RN
AT
ION
AL
w
ww
.fl i
gh
tglo
ba
l.co
m
Cov
er s
tory
ww
w.fl
ig
htg
lob
al.c
om
F
LIG
HT
IN
TE
RN
AT
ION
AL
8-1
4 A
UG
US
T 2
00
6 5
7
A
eros
pace
Top
100
12
(10)
Th
ales
(F
ranc
e)
10,
274
1
0,34
2
12,
758
0%
89
6 3%
8
71
7.0%
6.
8%
5,82
5 15
%
12%
5
3,36
7
-4%
2
39,0
64
-4%
Aer
ospa
ce
2,97
0
9%
259
16%
2
23
Air
Sys
tem
s
1,
986
5%
15
7 0%
1
57
Land
& J
oint
Sys
tem
s
3
,266
3%
17
4 -1
0%
194
5.
3%
6.1%
-
-
Nav
al S
yste
ms
2,05
2
-19%
18
3 7%
1
72
8.9%
6.
8%
-
-
In
clud
es a
cqui
sitio
n of
25%
inte
rest
in D
CN
13
(16)
L-3
Co
mm
un
icat
ion
s (U
SA
) 9
,444
6
,898
9
,444
37
%
997
33%
7
49
10.6
%
10.9
%
10,0
55
10%
11
%
59,
500
35
%
158
,723
35
%
Incl
udes
$3.
4bn
acqu
isiti
ons
of C
AE
Mar
ine
Con
trol
s, G
D P
ropu
lsio
n S
yste
ms,
Boe
ing
Ele
ctro
n
D
ynam
ics,
Tita
n
Com
man
d, C
ontr
ol a
nd C
omm
unic
atio
ns (
C3)
and
IS
R
2,17
0
30%
25
0 15
%
218
11
.5%
13
.1%
-
-
Gov
ernm
ent
Ser
vice
s
1,
820
72
%
168
35%
1
24
9.2%
11
.7%
-
-
Airc
raft
Mod
erni
zatio
n an
d M
aint
enan
ce
2,28
9
20%
22
7 22
%
186
9.
9%
9.7%
-
-
Spe
cial
ized
Pro
duct
s
3,
165
40
%
351
60%
2
20
11.1
%
9.7%
-
-
14
(14)
Ro
lls-R
oyc
e (U
K)
8,9
52
8,0
89
12,
007
11
%
1,59
5 11
0%
764
13
.3%
7.
0%
10,9
32
15%
8%
3
5,60
0
1%
337
,263
1%
Civ
il A
eros
pace
6,
382
15
%
1,19
8 24
0%
356
18
.8%
6.
4%
-
-
Def
ence
Aer
ospa
ce
2,56
9
3%
322
-1%
3
28
12.5
%
13.0
%
-
-
15
(11)
Saf
ran
(F
ranc
e)
8,4
22
10,3
42
10,
810
-1
6%
-383
892
-3
.5%
6.
9%
9,46
3 -4
%
19%
5
1,91
8
-6%
2
08,2
16
-6%
C
alcu
latio
n ba
sed
on 9
mon
ths
of S
necm
a re
sults
, fol
low
ing
mer
ger
of S
necm
a an
d S
agem
,
Pro
puls
ion
5.58
5
-27%
-4
45
4
28
-10.
8%
7.6%
-
-
For
mer
ly S
necm
a an
d T
urbo
mec
a
Equ
ipm
ent
2,60
1
-20%
-4
8
208
-1
.9%
6.
4%
-
-
F
orm
erly
Sne
cma
Equ
ipm
ent
- La
ndin
g G
ear,
Nac
elle
s, W
iring
, B
rake
s, E
ngin
e C
ontr
ols
Def
ence
and
Sec
urity
1,71
7
19%
13
7 7%
1
28
8.0%
8.
9%
-
-
F
orm
erly
Sag
em D
efen
ce &
Sec
urity
16
(15)
Bo
mb
ard
ier
(Can
ada)
8,
087
7
,980
1
4,36
9
-8%
35
7 45
8%
64
2.
5%
0.4%
8,
374
4%
1%
31,
570
7%
4
55,1
47
7%
Aer
ospa
ce
8,08
7
1%
266
31%
2
03
3.3%
2.
5%
-
-
17
(18)
Tex
tro
n (
US
A)
6,3
61
4,7
27
10,
043
21
%
1,02
8 30
%
791
10
.2%
9.
5%
13,3
52
8%
6%
37,
000
9%
2
71,4
32
9%
Bel
l
2,
881
28
%
368
47%
2
50
12.8
%
11.1
%
-
-
Ces
sna
3,48
0
41%
45
7 71
%
267
13
.1%
10
.8%
-
-
18
(19)
Go
od
rich
(U
SA
) 5
,396
4
,700
5
,396
15
%
533
34%
3
97
9.9%
8.
4%
4,83
9 11
%
9%
22,
600
6%
2
38,7
61
6%
Airf
ram
es S
yste
ms
1,85
4
14%
76
-1
6%
90
4.
1%
5.5%
Eng
ine
Sys
tem
s
2,
238
15
%
400
51%
2
65
17.9
%
13.7
%
Ele
ctro
nic
Sys
tem
s
1,
304
13
%
146
6%
138
11
.2%
11
.9%
19
(17)
Alc
atel
(F
ranc
e)
4,7
80
4,7
80
16,
328
7%
1,
416
61%
8
80
8.7%
5.
8%
14,1
48
10%
7%
1
3,10
9
-4%
1
,245
,582
-4
%
Priv
ate
Com
mun
icat
ions
4,
780
0%
34
1 3%
3
32
7.1%
6.
9%
-
-
In
clud
es g
over
nmen
t, de
fenc
e an
d tr
ansp
orta
tion.
Inc
lude
s A
lcat
el-A
leni
a S
pace
20
(20)
Das
sau
lt A
viat
ion
(F
ranc
e)
4,2
61
4,3
03
4,2
61
-1%
51
1 -1
2%
581
12
.0%
13
.5%
4,
425
12%
18
%
8,7
30
0%
488
,133
0%
In
clud
es a
cqui
sitio
ns o
f Aba
qus,
Bla
kes
Cas
sels
and
Gra
ydon
and
Virt
ools
Def
ence
2,
209
32
%
-
-
Bus
ines
s A
ircra
ft
2,05
2
-22%
-
-
21
(22)
Mit
sub
ish
i H
eavy
In
du
stri
es (
Japa
n)
4,0
50
3,6
39
25,
359
8%
64
4 38
0%
132
2.
5%
0.6%
21
,984
3%
1%
3
2,62
7
-3%
7
77,2
38
-3%
Aer
ospa
ce
4,
050
9%
15
0 90
%
78
3.
7%
2.1%
-
-
22
(23)
IT
T I
nd
ust
ries
(U
SA
) 3
,933
3
,111
7
,427
17
%
500
-18%
6
10
6.7%
9.
6%
4,50
3 11
%
13%
4
0,90
0
-7%
1
81,5
89
-7%
Def
ense
Ele
ctro
nics
and
Ser
vice
s
3,2
24
34%
36
4 43
%
254
11
.3%
10
.5%
-
-
Ele
ctro
nic
Com
pone
nts
70
9
2%
-217
30
-3
0.6%
4.
3%
-
-
23
(21)
Em
bra
er (
Bra
zil)
3,8
05
3,7
20
3,8
05
-11%
18
9 -5
5%
368
5.
0%
9.9%
4,
489
4%
29%
1
6,95
3
51%
2
24,4
69
51%
24
(25)
Ro
ckw
ell
Co
llin
s (U
SA
) 3
,445
2
,930
3
,445
18
%
624
29%
4
82
18.1
%
16.5
%
1,96
3 32
%
25%
1
7,10
0
8%
201
,462
8%
Com
mer
cial
Sys
tem
s
1,
810
30
%
328
64%
2
00
18.1
%
14.3
%
-
-
Gov
ernm
ent
Sys
tem
s
1,
635
7%
29
6 5%
2
82
18.1
%
18.4
%
-
-
25
(24)
Eat
on
(U
SA
) 3
,240
3
,098
1
1,11
5
13%
1,
398
21%
1
,153
12
.6%
11
.7%
7,
250
19%
17
%
59,
000
7%
1
88,3
90
7%
Flu
id P
ower
3,
240
5%
33
9 0%
3
38
10.5
%
10.9
%
-
-
26
(26)
Alli
ant
Tech
syst
ems
(US
A)
3,1
98
2,6
45
3,2
17
15%
32
7 15
%
285
10
.2%
10
.2%
2,
231
15%
11
%
15,
200
9%
2
11,6
45
9%
AT
K T
hiok
ol
9
43
12%
13
0 7%
6
1
13.8
%
14.4
%
Am
mun
ition
1,12
5
27%
10
9 28
%
28
9.
7%
9.6%
Pre
cisi
on S
yste
ms
594
15
%
49
9%
45
8.
2%
8.7%
-
-
Ada
vanc
ed P
ropu
lsio
n &
Spa
ce S
yste
ms
536
36
%
53
66%
3
2
9.9%
8.
1%
-
-
27
(29)
Sm
ith
s G
rou
p (
UK
) 2
,751
2
,424
5
,464
10
%
687
21%
5
72
12.6
%
11.4
%
5,55
1 12
%
16%
3
0,60
0
14%
1
78,5
66
14%
In
clud
es a
cqui
sitio
ns o
f In
tegr
ated
Aer
ospa
ce S
yste
ms
and
Far
ran
Tech
nolo
gy
Aer
ospa
ce
2,08
4
14%
21
5 18
%
183
10
.3%
9.
9%
-
-
Det
ectio
n
66
7
16%
12
2 22
%
101
18
.3%
17
.4%
-
-
28
(27)
Saa
b (
Sw
eden
) 2
,750
2
,430
2
,586
8%
22
1 -1
1%
239
8.
6%
10.4
%
2,20
9 10
%
12%
1
2,83
0
7%
201
,536
7%
In
clud
es s
hare
s in
Grin
tek
(Sou
th A
frica
), E
AD
S D
efen
ce E
lect
roni
cs, T
ieto
Saa
b S
yste
ms
and
sale
s of
Def
ence
& S
ecur
ity S
olut
ions
73
1
20%
75
40
%
52
10
.3%
8.
8%
-
-
sh
ares
in N
amm
o
Sys
tem
s an
d P
rodu
cts
990
8%
11
1 23
%
86
11
.2%
9.
8%
-
-
Aer
onau
tics
1,02
9
13%
30
-7
0%
97
2.
9%
11.1
%
-
-
29
(31)
Alc
oa
(US
A)
2,7
00
2,2
00
26,
159
13
%
1,23
3 -1
0%
1,3
77
4.7%
5.
9%
26,3
28
5%
5%
129
,000
8%
2
02,7
83
8%
Eng
inee
red
Pro
duct
s (A
eros
pace
)
2,
700
23
%
-
-
30
(30)
MT
U A
ero
En
gin
es (
Ger
man
y)
2,6
70
2,3
86
2,6
70
12%
73
74
3%
9
2.7%
0.
4%
6
,746
-9
%
395
,822
-9
%
31
(34)
Pre
cisi
on
Cas
tpar
ts (
US
A)
2,4
88
1,9
93
3,5
46
21%
55
7 32
%
421
15
.7%
14
.4%
2,
983
19%
15
%
16,
040
4%
2
21,0
72
4%
Incl
udes
acq
uisi
tion
of S
hur-
Lok
Gro
up
For
ged
Pro
duct
s
87
9
39%
10
8 42
%
76
12
.3%
12
.0%
-
-
Inve
stm
ent
Cas
t P
rodu
cts
1,60
9
18%
32
2 26
%
256
20
.0%
18
.8%
-
-
Ran
k (0
5) C
om
pan
y (c
ou
ntr
y)
Aer
o s
ales
($m
)
Tota
l sa
les
($m
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per
atin
g r
esu
lt
($m
) O
per
atin
g m
arg
in
Cap
ital
R
OC
E (
%)
Per
son
nel
Sal
es p
er e
mp
loye
e ($
) C
om
men
ts
Div
isio
ns
2005
20
04
2005
g
row
th
2005
g
row
th
2004
20
05
2004
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plo
yed
20
05
2004
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t g
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200
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A
eros
pace
Top
100
32
(32)
Ish
ikaw
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a-H
arim
a (J
apan
) 2
,402
2
,080
1
0,23
7
3%
198
105%
9
5
1.9%
1.
0%
6,24
6 3%
2%
2
3,36
4
7%
438
,133
7%
Aer
o-E
ngin
es &
Spa
ce O
pera
tions
2,
402
13
%
2,40
2 26
%
116
6.
2%
5.6%
-
-
33
(35)
Har
ris
(US
A)
2,3
42
1,9
36
3,0
01
19%
32
1 53
%
210
10
.7%
8.
3%
1,86
7 17
%
12%
1
2,60
0
16%
2
38,1
75
16%
Gov
ernm
ent
Com
mun
icat
ions
1,80
5
20%
20
3 33
%
153
11
.3%
10
.2%
-
-
RF
Com
mun
icat
ions
53
7
25%
16
7 40
%
119
31
.0%
27
.7%
34
(33)
Isr
ael A
ircr
aft
Ind
ust
ries
(Is
rael
) 2
,340
2
,060
2
,340
14
%
25
400%
5
1.
1%
0.2%
-
-
35
(36)
Kaw
asak
i H
eavy
In
du
stri
es (
Japa
n)
1,9
98
1,6
79
12,
011
7%
31
0 38
%
221
2.
6%
2.0%
4,
373
7%
5%
28,
922
1%
4
15,3
02
1%
Aer
ospa
ce
1,99
8
17%
5
4
3.
2%
-
-
36
(37)
Co
bh
am (
UK
) 1
,764
1
,525
1
,764
17
%
278
8%
260
15
.8%
17
.1%
1,
562
18%
19
%
10,
715
9%
1
64,6
10
9%
Incl
udes
H K
och
and
Son
s an
d R
emec
Def
ense
& S
pace
Aer
ospa
ce S
yste
ms
4
60
8%
95
-2%
9
7
20.6
%
22.6
%
-
-
Flig
ht O
pera
tions
& S
ervi
ces
358
4%
25
-3
0%
37
7.
1%
10.6
%
-
-
Che
lton
(Avi
onic
s)
946
27
%
158
26%
1
26
16.7
%
16.9
%
-
-
37
(41)
DR
S T
ech
no
log
ies
(US
A)
1,7
40
1,3
09
1,7
40
33%
19
3 35
%
143
11
.1%
10
.9%
2,
193
9%
10%
9
,815
73
%
177
,280
73
%
Incl
udes
acq
uisi
tion
of E
SS
I
38
(39)
Zo
dia
c (F
ranc
e)
1,7
11
1,5
05
2,2
77
17%
31
1 20
%
259
13
.6%
13
.3%
2,
867
11%
14
%
16,
051
44
%
141
,885
44
%
Incl
udes
acq
uisi
tion
of S
cott
Avi
atio
n an
d C
&D
Aer
ospa
ce
Aer
osaf
ety
Sys
tem
s
379
9%
57
12
%
51
15
.1%
14
.6%
-
-
Airc
raft
Sys
tem
s
568
16
%
85
33%
6
3
14.9
%
12.9
%
Cab
in I
nter
iors
510
27
%
63
4%
61
12
.4%
15
.2%
-
-
Tech
nolo
gy
25
4
-5%
20
13
%
18
7.
8%
6.6%
-
-
39
(40)
BB
A G
rou
p (
UK
) 1
,622
1
,466
2
,746
10
%
236
2%
233
8.
6%
9.2%
2,
820
8%
9%
6%
6%
Avi
atio
n
1,62
2
9%
171
8%
159
10
.5%
10
.6%
-
-
40
(38)
Avi
o (
Italy
) 1
,592
1
,518
1
,592
5%
-1
0
-14
-0
.6%
-0
.9%
-1
,282
,298
0%
0%
4
,762
-6
%
334
,404
-6
%
41
(43)
Par
ker
Han
nifi
n (
US
A)
1,3
59
1,1
40
8,2
15
17%
1,
028
49%
6
88
12.5
%
9.8%
5,
562
18%
14
%
50,
638
5%
1
62,2
30
5%
Aer
ospa
ce
1,35
9
12%
19
9 26
%
158
14
.6%
13
.0%
-
-
42
(42)
Vo
ug
ht
Air
craf
t In
du
stri
es (
US
A)
1,2
97
1,2
15
1,2
97
7%
-175
-112
-1
3.5%
-9
.2%
1,
025
-17%
-1
0%
6,5
91
5%
196
,783
5%
43
(44)
Hin
du
stan
Aer
on
auti
cs (
Indi
a)
1,2
18
1,0
02
1,2
18
19%
22
7 32
%
168
18
.6%
16
.7%
30,
000
40,
616
44
(45)
Tel
edyn
e Te
chn
olo
gie
s (U
SA
) 1
,179
9
92
1,2
07
19%
10
1 51
%
67
8.
4%
6.6%
55
2 18
%
15%
7
,270
10
%
166
,025
10
%
Ele
ctro
nics
and
Com
mun
icat
ions
718
26
%
84
56%
5
4
11.7
%
9.5%
-
-
Sys
tem
s E
ngin
eerin
g S
olut
ions
264
9%
28
4%
2
7
10.6
%
11.2
%
-
-
Aer
ospa
ce E
ngin
es a
nd C
ompo
nent
s
197
8%
14
13
3%
6
7.1%
3.
3%
-
-
45
(28)
GK
N (
UK
) 1,
140
2
,426
6
,633
5%
17
8
-44
2.
7%
-0.7
%
4,87
7 4%
-1
%
37,
047
1%
1
79,0
52
1%
Rem
aini
ng s
take
in A
gust
aWes
tland
sol
d to
Fin
mec
cani
ca
Aer
ospa
ce
1,14
0
10%
80
57
%
51
7.
0%
4.9%
-
-
46
(47)
Elb
it S
yste
ms
(Isr
ael)
1,0
70
940
1
,070
14
%
67
2%
66
6.
3%
7.0%
1,
008
7%
10%
5
,504
-5
%
194
,404
-5
%
Incl
udes
70%
Tad
iran
Ele
ctro
nic
Sys
tem
s an
d Ta
dira
n S
pect
ralin
k
47
(48)
Vo
lvo
(S
wed
en)
1,0
09
893
3
2,20
5
14%
2,
430
24%
1
,892
7.
5%
7.0%
21
,169
11
%
10%
8
1,18
4
4%
396
,696
4%
Aer
o
1,00
9
9%
112
107%
5
2
11.1
%
5.8%
-
-
48
(53)
Meg
git
t (U
K)
991
7
47
1,12
0
29%
18
5 24
%
150
16
.6%
17
.2%
2,
169
9%
9%
5,6
82
28%
1
97,1
32
28%
In
clud
es a
cqui
sitio
n of
Ave
ry H
ardo
ll, S
enso
rex
and
EC
ET
Aer
ospa
ce
83
5
36%
14
7 31
%
114
17
.6%
18
.4%
-
-
Def
ence
Sys
tem
s
156
25
%
25
17%
2
2
16.3
%
17.4
%
-
-
49
(46)
Ru
ag (
Sw
itzer
land
) 95
9
967
95
9
-1%
15
-6
4%
43
1.
6%
4.4%
61
2 2%
5%
5
,640
1%
1
69,9
63
1%
Incl
udes
rem
aini
ng 2
0% p
artic
ipat
ion
in R
uag
Deu
tsch
land
50
(50)
CA
E (
Can
ada)
91
3
804
91
3
12%
11
1 42
%
77
12
.2%
9.
6%
966
12%
8%
5
,000
0%
1
82,6
94
0%
Incl
udes
acq
uisi
tions
of T
erra
in E
xper
ts a
nd G
reen
ley
& A
ssoc
iate
s
Civ
il S
imul
atio
n an
d T
rain
ing
47
8
11%
73
83
%
39
15
.2%
9.
2%
-
-
Mili
tary
Sim
ulat
ion
and
Tra
inin
g
436
13
%
39
0%
38
8.
9%
10.1
%
-
-
51
(49)
Seq
ua
(US
A)
898
8
14
1,99
8
7%
121
51%
8
0
6.1%
4.
3%
1,64
7 7%
5%
9
,700
7%
2
05,9
79
7%
Aer
ospa
ce
89
8
10%
65
51
%
43
7.
2%
5.3%
-
-
52
(54)
B/E
Aer
osp
ace
(US
A)
844
7
34
844
15
%
94
47%
6
4
11.1
%
8.7%
1,
256
7%
7%
3,9
82
13%
2
11,9
54
13%
Com
mer
cial
Airc
raft
Pro
duct
s
550
7%
51
28
%
40
9.
3%
7.8%
-
-
Bus
ines
s Je
t P
rodu
cts
12
0
60%
8
-1
6.
7%
-1.3
%
-
-
Fas
tene
r D
istr
ibut
ion
17
4
21%
35
35
%
26
20
.1%
18
.1%
-
-
53
(65)
Est
erlin
e (U
SA
) 83
5
613
83
5
36%
82
64
%
50
9.
8%
8.2%
87
3 9%
6%
6
,700
10
%
124
,627
10
%
Incl
udes
acq
uisi
tion
of P
alom
ar P
rodu
cts
Avi
onic
s &
Con
trol
261
25
%
37
16%
3
2
14.2
%
15.3
%
Sen
sors
& S
yste
ms
32
0
77%
34
32
5%
8
10.6
%
4.4%
Adv
ance
d M
ater
ials
254
14
%
34
21%
2
8
13.4
%
12.6
%
54
(52)
Lie
bh
err
(Sw
itzer
land
) 8
23
777
-
-
Airc
raft
Equ
ipm
ent
823
6%
55
(55)
Tri
um
ph
Gro
up
(U
SA
) 7
60
688
7
60
10%
56
70
%
33
7.
4%
4.8%
78
9 7%
4%
4
,152
7%
1
83,0
44
7%
56
(51)
Sta
nd
ard
Aer
o (
Can
ada)
7
52
786
7
61
-4%
-1
3
64
-1
.7%
8.
0%
704
-2%
8%
2
,500
304
,400
Ow
ned
by C
arly
le G
roup
Avi
atio
n
752
-4
%
7 -9
3%
101
0.
9%
12.8
%
-
-
57
(74)
Fu
ji H
eavy
In
du
stri
es (
Japa
n)
743
5
05
13,4
09
2%
530
39%
3
75
4.0%
2.
9%
6,54
2 8%
4%
2
6,11
5
-3%
5
13,4
58
-3%
Aer
ospa
ce
74
3
38%
25
1,
333%
2
3.
4%
0.3%
-
-
58
(58)
Sin
gap
ore
Tec
hn
olo
gie
s E
ng
inee
rin
g (
Sin
gapo
re) 7
43
662
2
,005
13
%
279
20%
2
29
13.9
%
13.1
%
1,16
9 24
%
21%
1
3,09
9
12%
1
53,0
86
12%
In
clud
es a
cqui
sitio
ns o
f S
peci
aliz
ed V
ehic
les,
iDire
ct a
nd 6
7% o
f S
AS
Com
pone
nt
Aer
ospa
ce
74
3
11%
13
1 10
%
118
17
.6%
17
.8%
-
-
Ran
k (0
5) C
om
pan
y (c
ou
ntr
y)
Aer
o s
ales
($m
)
Tota
l sa
les
($m
) O
per
atin
g r
esu
lt
($m
) O
per
atin
g m
arg
in
Cap
ital
R
OC
E (
%)
Per
son
nel
Sal
es p
er e
mp
loye
e ($
) C
om
men
ts
Div
isio
ns
2005
20
04
2005
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row
th
2005
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row
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2004
20
05
2004
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plo
yed
20
05
2004
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LES
58
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60
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GU
ST
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F
LIG
HT
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F
LIG
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RN
AT
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AL
8-1
4 A
UG
US
T 2
00
6 6
1
A
eros
pace
Top
100
59
(60)
Hex
cel
(US
A)
738
6
56
1,1
61
8%
104
17%
8
9
9.0%
8.
3%
684
15%
16
%
4,4
60
1%
260
,314
1%
Com
mer
cial
Aer
ospa
ce
529
14
%
-
-
Spa
ce a
nd D
efen
ce
209
8%
-
-
60
(56)
Orb
ital
Sci
ence
s (U
SA
) 7
11
684
7
03
4%
53
-4%
5
5
7.5%
8.
1%
522
10%
11
%
2,6
00
6%
270
,385
6%
Laun
ch V
ehic
les
and
Adv
ance
d P
rogr
ams
33
5
4%
35
17%
3
0
10.4
%
9.3%
-
-
Sat
ellit
es a
nd R
elat
ed S
pace
Sys
tem
s
349
5%
16
-2
4%
21
4.
6%
6.3%
-
-
Tra
nspo
rtat
ion
Man
agem
ent
Sys
tem
s
27
-7%
1
1
3.
7%
3.4%
-
-
61
(61)
Bal
l (U
SA
) 6
95
653
5
,751
6%
46
3 -1
4%
539
8.
1%
9.9%
3,
167
15%
15
%
13,
100
-1
%
439
,008
-1
%
Aer
ospa
ce a
nd T
echn
olog
ies
695
6%
55
12
%
49
7.
9%
7.5%
-
-
62
(63)
Sto
rk (
Net
herla
nds)
6
85
622
2
,259
5%
16
0 23
%
131
7.
1%
6.1%
82
5 19
%
14%
1
2,84
8
3%
175
,805
3%
62
(63)
A
eros
pace
685
10
%
78
37%
5
7
11.4
%
9.2%
-
-
Incl
udes
Aer
ospa
ce I
ndus
trie
s an
d A
eros
pace
Ser
vice
s
63
(64)
In
dra
(S
pain
) 6
70
614
1
,494
11
%
177
23%
1
43
11.8
%
10.7
%
527
33%
22
%
7,5
84
16%
1
97,0
23
16%
Info
rmat
ion
Tech
nolo
gy/D
efen
ce a
nd S
ecur
ity F
orce
s
31
6
10%
-
-
Sim
ulat
ors
& A
utom
ated
Tes
ting
Sys
tem
s
14
3
8%
-
-
Def
ence
Ele
ctro
nic
Equ
ipm
ent
21
1
8%
-
-
64
(69)
Cu
rtis
s-W
rig
ht
(US
A)
664
5
67
1,1
31
18%
13
8 25
%
110
12
.2%
11
.5%
1,
178
12%
10
%
5,8
92
5%
191
,955
5%
In
clud
es a
cqui
sitio
n of
Ind
al T
echn
olog
ies
Mot
ion
Con
trol
46
5
20%
50
11
%
45
10
.8%
11
.6%
-
-
Met
al T
reat
men
t
199
12
%
34
21%
2
8
17.1
%
15.7
%
-
-
65
(67)
Ko
rea
Aer
osp
ace
Ind
ust
ries
(S
outh
Kor
ea)
659
5
71
659
4%
54
11
3%
23
8.
2%
4.0%
1,
015
5%
3%
2,7
60
2
38,7
48
66
(66)
Mat
sush
ita
Ele
ctri
cal
Ind
ust
ries
(Ja
pan)
6
57
592
8
0,78
2
2%
3,37
2 50
%
2,2
03
4.2%
2.
8%
46,1
35
7%
5%
334
,402
0%
2
41,5
71
0%
Mat
sush
ita A
vion
ics
Sys
tem
s
65
7
9%
Bas
ed o
n st
ated
9%
gro
wth
acr
oss
OE
and
AM
bus
ines
s
67
(70)
ED
O (
US
A)
648
5
36
648
21
%
53
1%
53
8.
2%
9.9%
55
8 10
%
12%
20%
20
%
Incl
udes
acq
uisi
tions
of
EV
I Tec
hnol
ogy
and
Nex
Gen
Com
mun
icat
ions
Ele
ctro
nic
Sys
tem
s &
Com
mun
icat
ions
40
8
49%
42
56
%
27
10
.3%
9.
9%
Eng
inee
red
Sys
tem
s &
Ser
vice
s
24
0
-9%
13
-5
0%
26
5.
4%
9.9%
68
(68)
Ult
ra E
lect
ron
ics
(UK
) 6
22
570
6
22
10%
93
19
%
79
14
.9%
13
.8%
38
5 24
%
30%
2
,880
8%
2
15,9
29
8%
Incl
udes
acq
uisi
tion
of H
oriz
on A
eros
pace
Airc
raft
and
Veh
icle
Sys
tem
s
153
8%
29
7%
2
7
19.0
%
19.2
%
-
-
Info
rmat
ion
and
Pow
er S
yste
ms
21
3
1%
33
20%
2
7
15.4
%
12.9
%
-
-
Tact
ical
and
Son
ar S
yste
ms
25
6
7%
31
31%
2
4
12.1
%
9.8%
-
-
69
(75)
Gen
Co
rp (
US
A)
617
4
92
624
25
%
-133
42
-2
1.3%
8.
4%
785
-17%
4%
3
,101
9%
2
01,2
25
9%
Aer
ospa
ce a
nd D
efen
ce
617
25
%
-137
30
-2
2.2%
6.
1%
-
-
70
(57)
Den
el (
Sou
th A
fric
a)
593
6
76
593
-1
5%
-195
25
-3
2.9%
3.
6%
135
-145
%
9%
9,9
42
-9%
5
9,64
5
-9%
71
(72)
Mo
og
(U
SA
) 5
80
528
1
,051
12
%
123
16%
1
06
11.7
%
11.3
%
1,01
6 12
%
12%
6
62
-89%
1
,587
,613
-8
9%
Incl
udes
acq
uisi
tions
of F
CS
Con
trol
Sys
tem
s, P
ower
and
Dat
a Te
chno
logi
es G
roup
of K
aydo
n
Airc
raft
Con
trol
s
45
2
10%
64
2%
6
3
14.2
%
15.3
%
-
-
Spa
ce &
Def
ense
Con
trol
s
12
8
10%
11
24
4%
3
8.6%
2.
8%
-
-
72
(71)
Lo
rd (
US
A)
564
5
30
564
6%
64
23
%
52
11
.3%
9.
8%
-
-
73
(73)
Cra
ne
(US
A)
554
5
12
2,0
61
9%
214
15%
1
86
10.4
%
9.8%
1,
740
12%
11
%
-
-
Aer
ospa
ce
554
8%
86
-8
%
93
15
.5%
18
.2%
74
(79)
Um
eco
(U
K)
511
4
45
533
21
%
0
27
0.
0%
6.2%
27
8 0%
10
%
1,4
21
15%
3
74,9
30
15%
Com
pone
nts
24
5
10%
5
50%
4
2.
2%
1.6%
-
-
Com
posi
tes
23
1
25%
11
30
%
8
4.7%
4.
5%
-
-
Rep
air
and
Ove
rhau
l
35
6%
2
2
5.
3%
5.6%
-
-
75
(78)
Tel
efl e
x (U
SA
) 4
93
453
2
,515
5%
26
5 25
%
212
10
.5%
8.
9%
1,91
6 14
%
10%
2
0,40
0
-4%
1
23,2
84
-4%
Aer
ospa
ce
49
3
9%
33
-1
1
6.7%
-2
.4%
-
-
76
(85)
Un
ited
In
du
stri
al (
US
A)
480
3
55
517
34
%
67
63%
4
1
13.0
%
10.6
%
227
30%
18
%
2,0
00
21%
2
58,5
00
21%
In
clud
es a
cqui
sitio
n of
ES
L D
efen
ce
Def
ence
480
35
%
59
44%
4
1
12.3
%
11.5
%
77
(84)
Bri
tax
(UK
) 4
78
363
8
35
13
5
-84
16
.1%
-1
0.8%
3,8
44
-2%
2
17,1
23
-2%
Aer
ospa
ce I
nter
iors
47
8
33%
-
-
78
(77)
Mag
ella
n A
ero
spac
e (C
anad
a)
469
4
68
469
-1
%
46
-7%
4
9
9.9%
10
.5%
39
2 12
%
10%
0%
0%
79
(76)
IT
P (
Spa
in)
469
4
71
469
-1
%
83
49%
5
6
17.8
%
11.9
%
16%
2
,400
7%
1
95,2
73
7%
Ope
ratin
g pr
ofi t
is E
BIT
DA
80
(101
) A
ero
fl ex
(U
SA
) 4
63
178
4
63
12%
32
-1
1%
36
6.
9%
8.7%
48
9 7%
8%
10%
10
%
Incl
udes
acq
uisi
tions
of
JcA
IR T
est
Sys
tem
s an
d U
biN
etic
s
81
(59)
Lo
ral
Sp
ace
& C
om
mu
nic
atio
ns
(US
A)
444
6
60
429
-1
8%
-67
-2
14
-15.
6%
-41.
0%
1,35
9 -5
%
-24%
1
,700
3%
2
52,3
53
3%
Lora
l Spa
ce &
Com
mun
icat
ions
for
med
on
emer
genc
e fr
om C
hapt
er 1
1 on
21
Nov
embe
r 20
05
Sat
ellit
e S
ervi
ces
111
-5
0%
40
74%
2
3
36.0
%
10.3
%
-
-
Sat
ellit
e M
anuf
actu
ring
319
-2
7%
15
-1
3
4.7%
-3
.0%
-
-
82
(87)
Lat
éco
ère
(Fra
nce)
4
41
330
4
41
34%
39
-1
8%
47
8.
7%
14.3
%
1,00
6 4%
9%
2
,171
-9
%
203
,273
-9
%
83
(83)
Am
ph
eno
l (U
SA
) 4
34
367
1
,808
18
%
343
24%
2
77
19.0
%
18.1
%
1,59
7 21
%
26%
2
2,70
0
49%
7
9,64
8
49%
In
clud
es a
cqui
sitio
ns o
f Ter
adyn
e’s
back
plan
e an
d co
nnec
tion
syst
ems
busi
ness
Aer
ospa
ce
434
18
%
-
-
84
(80)
Ko
ng
sber
g (
Nor
way
) 3
98
417
8
85
-2%
56
63
%
34
6.
3%
3.8%
57
3 10
%
6%
3,3
72
-16%
2
62,5
57
-16%
Def
ence
& A
eros
pace
39
8
-5%
18
-5
4.6%
-1
.1%
-
-
85
(81)
Gam
esa
(now
Aer
nnov
a) (
Spa
in)
389
3
76
2,1
69
32%
28
1 10
%
256
13
.0%
15
.6%
2,
834
10%
10
%
8,6
78
14%
2
49,9
70
14%
In
clud
es a
cqui
sitio
ns o
f In
teca
ir, S
.L a
nd F
resa
do Q
uím
ico,
S.A
.
Aer
onau
tical
38
9
4%
41
-1
26
10.5
%
-33.
4%
-
-
Ran
k (0
5) C
om
pan
y (c
ou
ntr
y)
Aer
o s
ales
($m
)
Tota
l sa
les
($m
) O
per
atin
g r
esu
lt
($m
) O
per
atin
g m
arg
in
Cap
ital
R
OC
E (
%)
Per
son
nel
Sal
es p
er e
mp
loye
e ($
) C
om
men
ts
Div
isio
ns
2005
20
04
2005
g
row
th
2005
g
row
th
2004
20
05
2004
em
plo
yed
20
05
2004
2
005
hea
dco
un
t g
row
th
200
5 g
row
th
fla8
- to
p 10
0 T
AB
LES
60
-61
fla8
- to
p 10
0 T
AB
LES
60
-61
16/8
/06
2:2
4:02
pm
16/8
/06
2:2
4:02
pm
62
8
-14
AU
GU
ST
20
06
F
LIG
HT
IN
TE
RN
AT
ION
AL
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LIG
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UG
US
T 2
00
6 6
3
A
eros
pace
Top
100
86
(86)
K&
F I
nd
ust
ries
(U
SA
) 3
84
353
3
84
9%
104
-1
2
27.1
%
-3.4
%
1,29
1 8%
-1
%
1,2
88
-1%
2
98,1
37
-1%
Airc
raft
Bra
king
Sys
tem
s
32
0
9%
99
15%
8
6
30.9
%
29.3
%
-
-
Eng
inee
red
Fab
rics
65
10%
7
-22%
9
10
.8%
15
.3%
-
-
87
(82)
Pila
tus
(Sw
itzer
land
) 3
74
373
3
74
0%
27
386%
6
7.
3%
1.5%
1,3
30
4%
281
,295
4%
88
(88)
So
nac
a (B
elgi
um)
359
3
57
359
1%
-2
20
-0
.7%
5.
6%
362
-1%
5%
2
,278
-1
%
157
,709
-1
%
89
(90)
LIS
I (F
ranc
e)
303
2
64
767
14
%
78
9%
72
10
.2%
10
.7%
15
3 51
%
13%
5
,863
12
%
130
,821
12
%
Aer
ospa
ce
303
15
%
46
9%
42
15
.2%
16
.0%
-
-
90
(89)
Wo
od
war
d G
ove
rno
r (U
SA
)
295
2
70
828
17
%
79
61%
4
9
9.5%
6.
9%
576
14%
9%
3
,500
3%
2
36,5
71
3%
Airc
raft
engi
ne s
yste
ms
295
8%
64
8%
5
9
21.7
%
21.7
%
-
-
91
(92)
Kam
an (
US
A)
288
2
52
1,1
01
11%
29
-17
2.
6%
-1.7
%
375
8%
-5%
3
,712
4%
2
96,6
06
4%
Aer
ospa
ce
288
14
%
33
-1
4
11.5
%
-5.6
%
-
-
92
(91)
Sen
ior
(UK
) 2
84
257
6
16
10%
36
18
%
31
5.
9%
5.5%
36
9 10
%
10%
4
,918
-2
%
125
,340
-2
%
Incl
udes
acq
uisi
tion
of S
terli
ng M
achi
ne
Aer
ospa
ce
2
84
11%
24
18
%
20
8.
3%
7.9%
-
-
93
(93)
Do
nca
ster
s (U
K)
278
2
49
851
19
%
82
114%
3
8
9.6%
5.
4%
4
,598
7%
1
85,0
78
7%
Sol
d to
Dub
ai I
nter
natio
nal C
apita
l on
14 D
ecem
ber
2005
Aer
ospa
ce
278
13
%
70
-1%
7
2
25.2
%
28.8
%
-
-
94
(97)
DeC
ran
e (U
SA
) 2
75
217
2
71
27%
1,6
00
5%
169
,375
5%
Cab
in M
anag
emen
t
18
8
18%
-
-
Sys
tem
s In
tegr
atio
n
87
50
%
-
-
95
(62)
Eri
csso
n (
Sw
eden
) 2
68
629
2
0,32
5
15%
4,
429
24%
3
,442
21
.8%
20
.2%
16
,985
26
%
19%
5
6,05
5
11%
3
62,5
97
11%
S
plit
into
EM
W a
nd P
ower
Sys
tem
s. E
MW
fi gu
res
stat
ed.
Pow
er s
yste
ms
mov
ed t
o
go
vern
men
t di
visi
on
Def
ence
Sys
tem
s
26
8
-59%
-
-
96
(96)
Cir
cor
(US
A)
251
2
19
450
18
%
33
50%
2
2
7.3%
5.
8%
339
10%
6%
2
,300
12
%
195
,652
12
%
Incl
udes
acq
uisi
tions
of
Loud
Eng
inee
ring
& M
anuf
actu
ring
and
Indu
stria
Inst
rum
enta
tion
and
The
rmal
Flu
id C
ontr
ols
251
15
%
28
17%
2
4
11.2
%
11.0
%
-
-
97
(95)
Du
com
mu
n (
US
A)
250
2
25
250
11
%
21
40%
1
5
8.4%
6.
7%
176
12%
9%
1
,353
1%
1
84,7
75
1%
Incl
udes
acq
uisi
tion
of M
iltec
98
(94)
Ch
emri
ng
(U
K)
240
2
31
240
5%
31
0%
3
1
12.9
%
13.4
%
242
13%
20
%
1,6
54
1%
145
,116
1%
99
(102
) G
arm
in (
US
A)
229
1
72
1,0
28
35%
33
8 25
%
271
32
.9%
35
.5%
1,
167
29%
29
%
3,0
34
22%
3
38,8
27
22%
Avi
atio
n
229
33
%
100
69%
5
9
43.7
%
34.3
%
100
(99)
Mar
tin
-Bak
er (
UK
) 2
09
210
2
09
0%
31
21%
2
6
14.8
%
12.2
%
165
19%
17
%
807
0%
2
59,5
12
0%
Ran
k (0
5) C
om
pan
y (c
ou
ntr
y)
Aer
o s
ales
($m
)
Tota
l sa
les
($m
) O
per
atin
g r
esu
lt
($m
) O
per
atin
g m
arg
in
Cap
ital
R
OC
E (
%)
Per
son
nel
Sal
es p
er e
mp
loye
e ($
) C
om
men
ts
Div
isio
ns
2005
20
04
2005
g
row
th
2005
g
row
th
2004
20
05
2004
em
plo
yed
20
05
2004
2
005
hea
dco
un
t g
row
th
200
5 g
row
th
rela
ted
sale
s gr
eate
r tha
n gr
oup
sale
s.E
XC
HA
NG
E R
AT
ES
An
aver
age
exch
ange
rate
for t
he p
erio
d 1
Janu
ary
to 3
1 D
ecem
ber 2
005
has
been
use
d fo
r all
non-
US
com
pani
es, r
egar
dles
s of
fi sc
al
year
defi
niti
ons.
The
per
cent
age
chan
ges
in fi
nanc
ial fi
gur
es a
re in
loca
l cur
renc
y te
rms
to a
void
unn
eces
sary
dis
torti
ons.
CO
UN
TR
Y A
ll co
mpa
nies
hav
e be
en li
sted
by
coun
try o
f hea
dqua
rters
, in
depe
nden
t of p
rodu
ctio
n or
ope
ratin
g te
rrito
ries.
OP
ER
AT
ING
RE
SU
LTS
Gen
eral
ly ta
ken
as th
e pr
ofi t
(or l
oss)
bef
ore
inte
rest
, ta
x, a
nd e
xcep
tiona
l ite
ms,
and
afte
r dep
reci
atio
n. T
he m
easu
re g
ives
a g
uide
to
a b
usin
ess’
s op
erat
iona
l hea
lth. D
isco
ntin
ued
or d
isco
ntin
uing
ope
ratio
ns
are
incl
uded
whe
re th
ey fa
ll in
fi sc
al 2
005
for t
hat b
usin
ess.
Whe
re d
ivis
iona
l op
erat
ing
resu
lts h
ave
not b
een
disc
lose
d, s
ale
valu
e as
a p
erce
ntag
e of
tota
l
grou
p sa
les
mul
tiplie
d by
the
tota
l ope
ratin
g pr
ofi t
has
been
cal
cula
ted.
Whe
re
tota
l gro
up s
ales
or t
otal
gro
up o
pera
ting
profi
t ha
s no
t bee
n id
entifi
ed,
pre
viou
s ye
ars
fi gur
es a
re a
ssum
ed.
RE
TU
RN
ON
CA
PIT
AL
EM
PL
OY
ED
(RO
CE
) Ret
urn
on C
apita
l Em
ploy
ed
(RO
CE
) is
calc
ulat
ed a
s ea
rnin
gs b
efor
e in
tere
st e
xpen
ses,
taxe
s, u
nusu
al it
ems
and
min
ority
inte
rest
s di
vide
d by
yea
r-en
d to
tal a
sset
s le
ss y
ear-
end
non-
inte
rest
be
arin
g cu
rren
t lia
bilit
ies.
INT
ER
NA
TIO
NA
L F
INA
NC
IAL
RE
PO
RT
ING
STA
ND
AR
DS
(IF
RS
) The
in
trodu
ctio
n of
Inte
rnat
iona
l Fin
anci
al R
epor
ting
Sta
ndar
ds (I
FR
S) w
as
impl
emen
ted
by s
ome
aero
spac
e co
mpa
nies
dur
ing
both
200
4 an
d 20
05.
Thi
s ha
s re
sulte
d in
revi
sion
s to
200
4 fi g
ures
; in
such
circ
umst
ance
s, w
e ha
ve
rest
ated
200
4 fi g
ures
for t
he n
ew a
ccou
ntin
g st
anda
rd.
DA
TA S
OU
RC
E T
he F
light
Inte
rnat
iona
l Aer
ospa
ce T
op 1
00 w
as c
ompi
led
by
aero
spac
e sp
ecia
lists
at P
ricew
ater
hous
eCoo
pers
LLP
(Pw
C) w
ww
.pw
c.co
m.
The
info
rmat
ion
used
in p
repa
ring
this
repo
rt ha
s be
en o
btai
ned
sole
ly fr
om
com
pany
ann
ual r
epor
ts a
nd o
ther
pub
licly
ava
ilabl
e in
form
atio
n. P
wC
has
not
so
ught
to e
stab
lish
the
relia
bilit
y of
this
info
rmat
ion
and
has
not v
erifi
ed s
uch
info
rmat
ion.
Acc
ordi
ngly
, no
repr
esen
tatio
n or
war
rant
y (w
heth
er e
xpre
ss o
r im
plie
d) is
giv
en b
y P
wC
as
to th
e ac
cura
cy o
f thi
s in
form
atio
n.C
OM
PAN
Y/D
IVIS
ION
S T
he to
p lin
e of
the
fi nan
cial
fi gu
res
refe
rs to
co
nsol
idat
ed re
sults
for t
he o
vera
ll gr
oup,
incl
udin
g no
n-ae
rosp
ace
busi
ness
. T
he d
ivis
iona
l fi g
ures
are
for t
hose
bus
ines
ses
that
are
fully
or l
arge
ly
conc
erne
d w
ith a
eros
pace
. Gro
ups
have
bee
n ra
nked
by
thei
r aer
ospa
ce s
ales
fo
r 200
5, c
alcu
late
d fro
m th
ose
divi
sion
s th
at o
pera
te p
rimar
ily in
the
indu
stry
.
Sec
tors
invo
lved
with
airc
raft,
aer
oeng
ines
, avi
onic
s, m
issi
les,
spa
ce a
nd
aero
stru
ctur
es a
re la
rgel
y st
raig
htfo
rwar
d, b
ut te
leco
mm
unic
atio
ns, s
yste
ms
and
som
e ov
erha
ul o
pera
tions
are
incl
uded
onl
y w
here
thes
e ar
e in
clud
ed
with
in a
div
isio
n la
rgel
y co
ncer
ned
with
aer
ospa
ce a
ctiv
ities
. Sat
ellit
e se
rvic
es
have
bee
n ex
clud
ed w
here
ver p
ossi
ble,
as
have
com
pani
es a
nd d
ivis
ions
th
at d
eriv
e m
ore
than
50%
of t
heir
sale
s fro
m s
ervi
ces
such
as
airc
raft
leas
ing.
W
here
acq
uisi
tions
wer
e m
ade
with
in th
e ac
coun
ting
perio
d, p
ro-fo
rma
acco
unts
hav
e be
en u
sed
for t
he 1
2-m
onth
con
solid
ated
per
form
ance
. Jo
int v
entu
res
have
bee
n in
clud
ed in
reve
nue
and
profi
t fi n
anci
als.
Inte
r-se
gmen
t sal
es h
ave
been
exc
lude
d fro
m o
pera
ting
resu
lts a
nd p
rofi t
s fo
r di
visi
ons
whe
reve
r pos
sibl
e. H
owev
er, w
hen
not p
ossi
ble,
div
isio
nal r
esul
ts
have
bee
n pr
esen
ted
incl
usiv
e of
inte
r-di
visi
on s
ales
, res
ultin
g in
aer
ospa
ce
NO
TE
S
Bo
mb
ard
ier,
w
hic
h
mak
es th
e
CR
J-70
0 (r
igh
t),
slip
ped
on
e p
lace
in th
e To
p 1
00
Em
bra
er
170
pro
du
c-ti
on
: th
e B
razi
lian
co
mp
any
fell
two
p
lace
s in
th
is y
ear’
s ra
nki
ng
s
MARK WAGNER /AVIATION-IMAGES.COM
MARK WAGNER /AVIATION-IMAGES.COM
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LES
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LES
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/06
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16/8
/06
2:2
4:07
pm