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Pratt & Whitney _________________________________________________________________________________ Pratt & Whitney: SWOT Analysis & Company Profile Reference code: DF0293CP Published: Dec 2010 Business Review John Carpenter House 7 Carmelite Street London EC4Y 0BS United Kingdom Tel: +44 (0) 20 7936 6400 Fax: +44 (0) 20 7336 6813 ___________________________________________________________________________________________ Pratt & Whitney - SWOT Profile Page 1 Pratt & Whitney __________________________________________________________________________________________ Pratt & Whitney - Company Overview Pratt & Whitney (P&W) is one of the leading aircraft engine manufacturers in the world. It is a subsidiary of United Technologies Corp. (UTC), which provides high technology products and services to the aerospace industry. P&W offers aircraft engines for commercial, military, business jet and general aviation. It also provides maintenance, repair and overhaul services, including the sale of spare parts and fleet management services. In addition, P&W engages in designing, manufacturing, and trading of power generation turbines, heavy duty gas turbines, gas turbines for maritime applications, power systems and space propulsion systems. The company serves around 11,000 customers across 195 countries. P&W is headquartered in East Hartford, Connecticut, the US. Pratt & Whitney - Key Facts Pratt & Whitney, Key Facts 400 Main Street, East Hartford, Corporate Address: Connecticut (CT), 06108, United Ticker Symbol, Stock N/A Exchange States Telephone + 1 860 5654321 No. of Employees 36,000 Fax N/A Financial Year End December URL www.pw.utc.com Revenue (in USD Million) 12,577.00 Industry Aerospace and Defense Locations United States Source: Annual Report, Company Website, Primary and Secondary Research ___________________________________________________________________________________________ Pratt & Whitney - SWOT Profile Page 2 Pratt & Whitney __________________________________________________________________________________________ Pratt & Whitney - Business Description Pratt & Whitney (P&W) is a US based company engaged in designing, manufacturing and servicing of aircraft engines, industrial gas turbines and space propulsion systems. The company manufactures aircraft engines and aircraft parts for commercial, military and for power systems. It also offers engine overhaul services, part and accessory repair, material, line maintenance, and specialty services. It operates across 195 countries catering to more than 11,000 customers. The company employs 36,000 people. The company’s commercial aircraft engines serve various airlines as well as operators. Its major products in the commercial engine segment include PW2000 for Boeing 757; PW4000 for Boeing 747, 767 and 777 and Airbus A300, A310 and A330; PW6000 for Airbus A318; GP7000 for Airbus A380; V2500 for Airbus A319, A320 and A321; and PurePower PW1000G for Bombardier CSeries aircraft, Mitsubishi Regional Jet (MRJ) and Irkut MC-21 aircraft. In the military engine segment, its products include F100 for F-15 Eagle and F-16 Fighting Falcon, F117 for C-17 Globemaster III, F119 for F-22 Raptor and F135 for F-35 Joint Strike Fighter. Under the Small and Medium Engines segment, the company offers 10 families of engines serving a variety of applications. These engines include the PW600 family for a new generation of Very Light Jets and the PW307A for the Dassault Falcon 7X. The Space Propulsion segment is operated through Pratt & Whitney Rocketdyne division. It engages in the design, development and manufacture of sophisticated aerospace propulsion systems which finds application in both military and commercial segments, including the US space shuttle program. It supplies booster engines for Delta II rockets as well as boosters and upper stage engines for Delta IV and Atlas V rockets. Under the Pratt & Whitney Power Systems (PWPS) segment, the company operates the industrial gas turbine business. It offers power generation and mechanical drive solutions for various markets including electric generation, oil and gas. Its industrial turbines range in power from 500 KW to 60 MW and offer variable speed mechanical drive for gas compression, liquid pumping and marine propulsion. The segment also offers service throughout the entire product life cycle. In addition, the segment offers aftermarket parts and advanced repairs for non-Pratt & Whitney heavy-duty industrial frame type gas turbines that utilize Pratt & Whitney superior coatings, alloys and cooling schemes. In 2009, Pratt & Whitney’s parent company UTC completed the transition of UTC Power’s geothermal power systems business to PWPS segment. Through Pratt & Whitney Global Services, the company provides maintenance, repair and overhaul services, which include the sale of spare parts and fleet management services for large commercial engines. It also offers engine overhaul services, part and accessory repair services, material services, line maintenance services, and specialty services for its military customers. Through its Pratt & Whitney Canada (P&WC) division, the company manufactures a range of engines, which include turbofan, turboshaft and turboprop, for business, light jet, utility, regional, and military aircraft and helicopters. Pratt & Whitney’s manufacturing facilities span across the regions of North America, Europe & Middle East, Asia and Emerging Markets. It owns 36 manufacturing facilities in North America, six in Europe and Middle East, six in Asia and three in Emerging Markets. In addition, it operates 23 leased facilities in North America, one in Europe & Middle East and four in Asia. Pratt & Whitney offers its products principally to aircraft manufacturers, airlines and other aircraft operators. It also offers these products to space launch vehicle providers, the US and foreign governments, as well as aircraft leasing companies. At December 31, 2009, the company had a business backlog of US$22,614 million, which include US$4,577 million of US government-funded contracts and subcontracts. Majority of the company’s sales are made directly to the end customer while services of independent distributors and foreign sales representatives are utilized to a limited extent. During the fiscal year 2009, sales to the US government accounted for 31% of the company’s total revenues. Airbus accounted for 11% of its total revenues during the review period. During the fiscal year 2009, Pratt & Whitney’s international operations, including US exports, accounted for 51% of the company’s total revenues. Recently, Pratt & Whitney Rocketdyne was awarded a contract worth US$622,000 by NASA to evaluate heavy-lift launch vehicle system concepts and propulsion technologies for their affordability and sustainability. The company’s Global Material Solution (GMS) life limited parts received approval for Validation of Supplemental Type Certificate (VSTC) from the Civil Aviation Administration of China (CAAC). Pratt & Whitney also received a contract for US$46 million from the Egyptian Air Force to provide F100-PW-229 Enhanced Engine Package (EEP) engines for its new fleet of 20 F-16 aircraft. In October 2010, Pratt & Whitney Rocketdyne received NASA’s 2010 Large Business Prime Contractor of the Year Award. It also received US$60.3 million contract for continued support of NASA’s Space Shuttle Main Engine (SSME) pre- launch, launch and post-launch through March 31, 2011. Earlier in June 2010, South Florida Manufacturers Association (SFMA) named Pratt & Whitney Rocketdyne South Florida's 2009 'Manufacturer of the Year'. ___________________________________________________________________________________________ Pratt & Whitney - SWOT Profile Page 3 Pratt & Whitney __________________________________________________________________________________________ In July 2010, Pratt & Whitney entered into a joint venture with
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