Industry Report Card: Global Commercial Aerospace Credit Outlook Sees Slight Lift, U.S. Defense Sector Steady But Slower Dec 06

  • ID: 2042251
  • December 2006
  • Region: Global, United States
  • Standard & Poors
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  • AAR Corp.
  • B/E Aerospace Inc.
  • DRS Technologies Inc.
  • Heckler & Koch GmbH
  • Moog Inc.
  • Rockwell Collins Inc.
  • MORE

Commercial aerospace firms saw a moderate overall improvement in credit quality over the past 12 months, supported in part by increasing demand for new jetliners, particularly from airlines in Asia and the Middle East, generally healthy global economic activity, growing air traffic, and upward trending financial results of many air carriers in those regions. Strong demand for commercial airplanes continued in 2006, following record orders for both manufacturersBoeing Co. (A+/Stable/A-1) and Airbus SAS (a unit of European Aeronautic Defence and Space Co. N.V. [EADS; A-/Watch Neg/A-2]) in 2005. This surge resulted in record backlogs, equivalent to about five years of production. However, this robust level of demand is probably not sustainable, and orders in 2007 are likely to be smaller,...

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Research Type: Commentary
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- Boeing Co.
- Aerojet Rocketdyne Holdings Inc
- General Dynamics Corp.
- Goodrich Corp.
- Kaman Corp.
- Boeing Capital Corp.
- Moog Inc.
- Raytheon Co.
- Textron Inc.
- United Technologies Corp.
- Honeywell International Inc.
- Hexcel Corp.
- BAE Systems PLC
- Finmeccanica SpA
- Airbus Group SE
- AAR Corp.
- Sequa Corp.
- Thales S.A.
- K&F Industries Inc.
- Bombardier Inc.
- Orbital Sciences Corp.
- B/E Aerospace Inc.
- Orbital ATK Inc.
- Lockheed Martin Corp.
- Northrop Grumman Corp.
- Communications & Power Industries Inc.
- L-3 Communications Corp.
- Argo-Tech Corp.
- Precision Castparts Corp.
- DeCrane Aerospace Inc.
- TransDigm Inc.
- Rolls-Royce PLC
- Vought Aircraft Industries Inc.
- Rockwell Collins Inc.
- DRS Technologies Inc.
- Esterline Technologies Corp.
- Armor Holdings Inc.
- ARINC Inc.
- Wornick Co. (The)
- Heckler & Koch GmbH
- Standard Aero Ltd.
- Piedmont Hawthorne Holdings Inc.
- DynCorp International LLC
- AmeriQual Group LLC
- Spirit AeroSystems Inc.
- MTU Aero Engines Holding AG
- Embraer S.A.
- Mecachrome International Inc.
- Atlantic Marine Holding Co.
- Wesco Aircraft Hardware Corp.

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