Magellan Aerospace Stock

Magellan Aerospace Corporation operates as a diversified supplier of components to the aerospace industry. The primary markets for the company’s aerospace products are Canada, the United States, the United Kingdom and other parts of Europe.

The company designs, engineers and manufactures aeroengine and aerostructure components for aerospace markets, including advanced products for defense and space markets and complementary specialty products. The company also supports the aftermarket through the supply of spare parts as well as through repair and overhaul services.

The company supplies design engineering and aerostructures products to international customers in the commercial and defence markets. Components are manufactured to aerospace tolerances using conventional and high-speed automated equipment. Capabilities also include precision casting of engine and airframe mounted components. Within the aeroengines product grouping, the company manufactures complex cast, fabricated and machined gas turbine engine components, both static and rotating, and integrated nacelle components, flow paths and engine exhaust systems for some of the aeroengine manufacturers. The company relies on a mix of commercial and defence aerospace programs.

The company also performs repair and overhaul services for jet engines and nacelle components. The company also supplies systems and design engineering to develop and sell proprietary space and rocket motor systems to a global customer base.

Strategy

The company’s principal strategy is to focus on selected core competencies within the aerospace industry where those competencies are critical to meeting customer needs. These include precision machining of various aerospace metal alloys, composites, the design and manufacture of aircraft structural components, complex high technology magnesium and aluminium alloy castings, integration of complex assemblies, and engine repair and overhaul technologies.

Customers

For the year ended December 31, 2019, direct sales to Boeing represented approximately 16% of total company revenues. In 2019, direct sales to Airbus represented approximately 23% of total revenues.

History

Magellan Aerospace Corporation was founded in 1994. The company was incorporated in 1996.