Meggitt Seals $750 million Deal With Pratt & Whitney

In a an announcement on Monday, British engineering company Meggitt Plc revealed that it has entered into a $750 million deal with the engine maker Pratt & Whitney to remain a primary supplier of two main engines of the U.S. company. As a part of the decade long deal, Meggitt will deliver high tech complex parts for the engines F135 and F119 that are used in the F-22 Raptor and F-35 Lightning II military aircraft of the American global aerospace, defense, security and advanced technologies firm Lockheed Martin.

The engineering company and the engine maker have sealed the deal following the United States President, Donald Trump’s promise to boost the nation’s defense by increasing the budget significantly. The U.S. accounts for over half of Meggitt’s revenue.

By the end of last year, Meggitt cautioned investors about the bottlenecks faced by the company’s polymers and composites unit, which has been manufacturing refined engine components capable of enduring elevated temperatures from complex materials, saying that these problems would slog the margins in 2019.

But, the company mentioned that its sales in the third quarter got a significant push and were bolstered by the clamor from civil aerospace clients, owing to the increased production of business jets and huge jets, and lesser aircraft retirements, which together triggered the clamor for spare components and parts.

The deal expands Meggitt’s existing ties with Pratt & Whitney in supplying high tech engine composites for applications in military and civil engines.

Meggitt Chief Executive Tony Wood, said that the components they will provide, as a part of the latest contract, will be manufactured in their novel state-of-the-art facility in San Diego, California, which started operating in August last year, to cater to the rapid increase in demand for high tech engine composite parts and components throughout the aerospace industry.

Previously in December, the British engineering company was awarded a USD15 million deal by Turkish Technic, a leading aircraft maintenance services provider. The agreement includes the supply of spare components, and maintenance activities throughout the entire range of Meggitt products and services.

According to the British engineering company, Turkish Technic was the latest among its extensive clientele to sign up for their recently introduced SMART Support package, which offers highly flexible, customized aftermarket care solutions across the company’s complete aerospace portfolio.

Following that agreement, Meggitt’s President of Customer Services and Support, Dennis Hutton, said that the firm is looking forward to offer and deliver a wide range of products and services to Turkish Technic, which will boast their existing service and support portfolio.

 

Mohit Loshali, an experienced campaigner, writes about the latest evolutions and trends in the automotive and allied domains. He has helped clients from across the globe with his thought-provoking research and analysis.

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About the Author: Mohit Loshali

Mohit Loshali, an experienced campaigner, writes about the latest evolutions and trends in the automotive and allied domains. He has helped clients from across the globe with his thought-provoking research and analysis.

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