With a name that harks back to a defining moment in aviation history, Curtiss-Wright has a long record in the aerospace industry, writes Helen Massy-Beresford. Today the company operates in commercial, military and business aviation sectors, as well as on unmanned air vehicles, space programmes and security systems.
Curtiss-Wright’s Controls division, responsible for 40% of the company’s almost $1 billion in sales last year, continues that aviation heritage. In 2004 the division reorganised into three new business groups designed to maximise product innovation and system integration.
Engineered Systems, Embedded Computing and Integrated Sensing were formed by combining the companies that made up Curtiss-Wright Controls into groups providing hardware and system solutions to the major military and commercial aviation industry segments.
Engineered Systems designs and builds secondary flight controls, door actuation systems and electromechanical servos for commercial, military and space applications and includes the company’s $50 million maintenance, repair and overhaul (MRO) business.
Embedded Computing supplies rugged, commercial-off-the-shelf (COTS), open-systems-architecture computing solutions for applications including mission management and flight control for rotary aircraft and unmanned air vehicles.
Integrated Sensing makes sensor systems for military and commercial aircraft as well as the industrial market, including position transducers for engine and flight controls; smoke detection and fire suppression systems for cargo compartments; data acquisition and conversion systems and rotor ice protection systems for the rotary-wing market.
Curtiss-Wright has been pursuing a strategy of broadening its product offering for several years. Acquisitions have formed a major part of this and the company has seen an annual growth rate of 25-27% on average. This strategy has lifted Curtiss-Wright from 94th in the 2001 Aerospace Top 100, via 77th place last year, to this year’s ranking of 68.
The business is likely to grow further: “the future will certainly include acquisitions,” says Controls division president David Adams. But, he says, the company will proceed with caution, stressing that the company “doesn’t buy fixer-uppers – we’re fairly selective”. Doug Wright, Engineered Systems vice-president, says: “We’re always looking at targeted opportunities. We’re careful to make sure acquisitions fit in with our longer-term strategy.”
A high level of organic growth is expected too. “We’re always looking at opportunities to broaden our product offering,” says Adams. The recovery in commercial aerospace combined with recent acquisitions mean “we’re expecting some rather strong organic growth in 2005 and 2006”, Wright says, adding: “We’ve positioned our businesses to win new work in aerospace and defence. We’re leveraging our legacy businesses with our newly acquired businesses. We’ve won a lot of new business this year that will be accretive to this year’s sales and we expect to go on winning new business.”
First half results for 2005 back-up Curtiss-Wright’s confidence. Group revenues were up 24% at $542 million, with acquisitions made since the end of March last year contributing $67.4 million in sales.
Source: Flight International
