Commercial / Industrial
Sales in the Commercial/Industrial segment are primarily to the general industrial
and commercial aerospace markets and, to a lesser extent, the defense and power
generation markets. The businesses in this segment provide a diversified offering
of highly engineered products and services including: industrial vehicle products
such as electronic throttle control devices and transmission shifters; sensors,
controls and electro-mechanical actuation components and utility systems used
on commercial aircraft; surface technology services such as shot peening, laser
peening, coatings and advanced testing; and valves primarily to the industrial
and naval defense markets. Additionally, we provide industrial pressure relief
management systems to the oil and gas and petrochemical industries. The businesses
within our Commercial/Industrial segment are impacted primarily by general economic
conditions which may include consumer consumption or commercial construction
rates, as the nature of their products and customers primarily support global
industrial, commercial aerospace, oil and gas industries, commercial vehicles,
and transportation industries. As commercial industrial businesses, production
and service processes do not vary widely and rest primarily within material
modification, machining, assembly, and testing and inspection at commercial
grade specifications. The businesses distribute products through commercial
sales and marketing channels and may be impacted by changes in the regulatory
environment.
Defense
Sales in the Defense segment are primarily to the defense markets and, to a
lesser extent, to the commercial aerospace market. The businesses in this segment
provide a diversified offering of products including: Commercial Off-the-Shelf
(COTS) embedded computing board level modules, integrated subsystems, flight
test equipment, instrumentation and control systems, turret aiming and stabilization
products, and weapons handling systems. The businesses within our Defense segment
are impacted primarily by government funding and the direction of U.S. government
spending. Our products typically support government entities in aerospace defense,
ground defense and naval defense industries. Additionally, we provide avionics
and electronics, flight test equipment, and aircraft data management solutions
to the commercial aerospace market. Our defense businesses supporting government
contractors typically utilize more advanced production and service processes
than our commercial businesses and have stringent specifications and performance
requirements. The businesses market and distribute products through regulated
government contracting channels.
Power
Sales in the Power segment are primarily to the nuclear power generation market
and, to a lesser extent, to the naval defense market. The businesses in this
segment provide a diversified offering of products, including a wide range of
hardware, pumps, valves, fastening systems, specialized containment doors, airlock
hatches, spent fuel management products, and fluid sealing technologies for
nuclear power plants and nuclear equipment manufacturers. We also have been
able to leverage existing technology and engineering expertise to provide Reactor
Coolant Pump (RCP) technology, pump seals, and control rod drive mechanisms
for commercial nuclear power plants. The power generation businesses within
our Power segment are impacted by pricing and demand for various forms of energy
(e.g. coal, natural gas, oil, and nuclear). The businesses are typically dependent
upon the need for new construction, maintenance, and overhaul by nuclear energy
providers. The businesses are often subject to changes in regulation impacting
demand, consumption, and underlying supply. The production and service processes
are primarily material modification, machining, assembly, and testing and inspection
that are typical of commercial grade or regulated specifications. The businesses
distribute products through commercial sales and marketing channels and may
be impacted by changes in the regulatory environment. Additional products within
our Power segment include main coolant pumps, power-dense compact motors, generators,
and secondary propulsion systems, primarily to the U.S. Navy. The defense businesses
in this segment are impacted primarily by government funding and the level of
U.S. government spending.