Recaro Aircraft Seating reports record turnover of €409 million, which is €40 million higher than the company’s historic high in 2014.
Sales have grown by over 11 percentage points, outperforming the market average.
“On average, the aviation industry achieves five percent yearly growth. A high benchmark and one that we surpassed quite easily—which confirms that Recaro is on the right track both operationally and strategically,” says Dr. Mark Hiller, Chief Executive Officer and Shareholder at Recaro Aircraft Seating. “By the end of 2016, we will have experienced further growth. And we plan to exceed sales of 600 million euros by 2019.”
The transport seating manufacturer, based in Bavaria, has benefited from airlines’ desire to diversify their vendor base as aircraft program numbers rise and the production burden on competing aircraft seating manufacturers reaches a breaking point.
During the Aircraft Interiors International Expo in Hamburg last month, Recaro booked six new large orders from airlines around the world, including large orders from growing Asian carriers.
The company is committed to supporting growth in the Asia-Pacific region. Recaro cites growth estimates of 14,330 new aircraft by 2034 in the region.
The company says it identified the “highly significant potential” of this market “several years ago” and has made satisfying the product needs of this market core to its competitive business strategy.
“In 2013, we were the first international aircraft seat manufacturer to open a production site in China. With our new Hub in Hong Kong, we have further strengthened our presence in the Asia-Pacific market,” says Hiller.
Recaro currently employs 2,000 people; 1,000 in Germany. The company has plants in Germany, Poland, South Africa, the USA and China as well as service centers in Europe, the Americas, the Middle East, Asia, and Australia.
Hillier says Recaro will continue to innovate, ensuring that its product and service offerings are future-proofed, with a focus on lightweight design, modularity and adaptability.
“With all our success, we never lose sight of the future. Our goal is to surprise the market with exceptional new products again and again. At the AIX, we achieved this with the BL3710, an innovation for the economy class in short-haul travel,” Hiller says.
The BL3710 weighs only nine and a half kilograms, and is the lightest seat in its class.
Recaro developed a back rest for this new seat made of fiber composites, reducing weight. The seat’s modular design can be efficiently adapted to fit alternative cabin configurations. It is a slim contour seat, which gives passengers an inch of legroom when compared to similar seats with thicker backs, pushing the passenger forward.
“The feedback at the AIX was extremely positive. And the seat’s very first customer, a European airline, is already looking forward to introducing it to its passengers,” says Hiller.