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AAR (AIR) Signs Distribution Deal With Collins Aerospace
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AAR Corp. (AIR - Free Report) announced the signing of an exclusive distribution agreement with Collins Aerospace’s Goodrich De-Icing & Specialty Heating Systems business. Per the agreement, AAR will distribute Collins’ De-Icing & Specialty Heating Systems. This exclusive arrangement will further expand product offerings. AAR will benefit from fresh demand from the business and general aviation markets.
Per the agreement with Collins Aerospace, AAR will provide airlines and other aircraft operators with de-icers and supporting products. The product offerings will include patented technology and will be predominantly used on general aviation aircraft, regional turbo-prop aircraft, and most multi-engine piston business aircraft.
AAR continues to witness a strong performance in parts supply and program activities. AAR’s steady investments in parts supply activities have enabled it to capitalize on the continued robust demand for parts. The expected increase in airline traffic will create more demand for AAR’s new product offerings, as more airlines start to resume normal operation.
Revival in Commercial Aircraft Market
Collins Aerospace is a unit of Raytheon Technologies Corp. (RTX - Free Report) . Raytheon has a wide range of product offerings and receives regular orders for the different products that it offers. The agreement for De-Icing & Specialty Heating Systems will allow the company to market its products across different channels.
Courtesy of regular orders, Raytheon Technologies witnessed a solid backlog of $156 billion as of Dec 31, 2021.
Last year, AAR entered into another exclusive agreement with Arkwin Industries. Per the agreement, AAR will distribute Arkwin’s broad line of engine actuation and commercial aviation products for the commercial aviation aftermarket.
Per a report from Allied Market Research, the global commercial aircraft market size was valued at $128.21 billion in 2020 and is projected to reach $192.76 billion by 2030, witnessing a CAGR of 4.23% from 2021 to 2030. Both the above exclusive agreements have expanded AAR’s product portfolio and enabled it to benefit from the expected demand from the commercial aircraft market.
Price Performance
Shares of AAR have gained 5.8% in the past year compared with the industry’s 11.3% rally.
Image: Bigstock
AAR (AIR) Signs Distribution Deal With Collins Aerospace
AAR Corp. (AIR - Free Report) announced the signing of an exclusive distribution agreement with Collins Aerospace’s Goodrich De-Icing & Specialty Heating Systems business. Per the agreement, AAR will distribute Collins’ De-Icing & Specialty Heating Systems. This exclusive arrangement will further expand product offerings. AAR will benefit from fresh demand from the business and general aviation markets.
Per the agreement with Collins Aerospace, AAR will provide airlines and other aircraft operators with de-icers and supporting products. The product offerings will include patented technology and will be predominantly used on general aviation aircraft, regional turbo-prop aircraft, and most multi-engine piston business aircraft.
AAR continues to witness a strong performance in parts supply and program activities. AAR’s steady investments in parts supply activities have enabled it to capitalize on the continued robust demand for parts. The expected increase in airline traffic will create more demand for AAR’s new product offerings, as more airlines start to resume normal operation.
Revival in Commercial Aircraft Market
Collins Aerospace is a unit of Raytheon Technologies Corp. (RTX - Free Report) . Raytheon has a wide range of product offerings and receives regular orders for the different products that it offers. The agreement for De-Icing & Specialty Heating Systems will allow the company to market its products across different channels.
Courtesy of regular orders, Raytheon Technologies witnessed a solid backlog of $156 billion as of Dec 31, 2021.
Last year, AAR entered into another exclusive agreement with Arkwin Industries. Per the agreement, AAR will distribute Arkwin’s broad line of engine actuation and commercial aviation products for the commercial aviation aftermarket.
Per a report from Allied Market Research, the global commercial aircraft market size was valued at $128.21 billion in 2020 and is projected to reach $192.76 billion by 2030, witnessing a CAGR of 4.23% from 2021 to 2030. Both the above exclusive agreements have expanded AAR’s product portfolio and enabled it to benefit from the expected demand from the commercial aircraft market.
Price Performance
Shares of AAR have gained 5.8% in the past year compared with the industry’s 11.3% rally.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
AAR currently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the same sector include Huntington Ingalls Industries (HII - Free Report) and Airbus Group (EADSY - Free Report) , each having a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Huntington Ingalls and Airbus’ earnings for 2023 indicates 18.04% and 29.47% year-over-year growth, respectively.
Huntington Ingalls and Airbus reported an average surprise of 22.2% and 69%, respectively, in the last four quarters.