HEICO Corporation through its subsidiaries believes it is the world’s
largest manufacturer of Federal Aviation Administration (“FAA”)-approved
jet engine and aircraft component replacement parts, other than the original
equipment manufacturers (“OEMs”) and their subcontractors. HEICO
also believes it is a leading manufacturer of various types of electronic equipment
for the aviation, defense, space, industrial, medical, telecommunications and
electronics industries.
The Company was originally organized in 1957 as a holding company known as
HEICO Corporation. As part of a reorganization completed in 1993, the original
holding company (formerly known as HEICO Corporation) was renamed as HEICO Aerospace
Corporation and a new holding corporation known as HEICO Corporation was created.
The reorganization did not result in any change in the business of the Company,
its consolidated assets or liabilities or the relative interests of its shareholders.
Our business is comprised of two operating segments:
The Flight Support Group. Our Flight Support Group (“FSG”), consisting
of HEICO Aerospace Holdings Corp. (“HEICO Aerospace”) and HEICO
Flight Support Corp. and their collective subsidiaries, accounted for 67%, of
our net sales. The Flight Support Group uses proprietary technology to design
and manufacture jet engine and aircraft component replacement parts for sale
at lower prices than those manufactured by OEMs. These parts are approved by
the FAA and are the functional equivalent of parts sold by OEMs. In addition,
the Flight Support Group repairs, overhauls and distributes jet engine and aircraft
components, avionics and instruments for domestic and foreign commercial air
carriers and aircraft repair companies as well as military and business aircraft
operators; and manufactures thermal insulation products, complex composite assemblies
and other component parts primarily for aerospace, defense, industrial and commercial
applications.
The Electronic Technologies Group. Our Electronic Technologies Group (“ETG”),
consisting of HEICO Electronic Technologies Corp. and its subsidiaries, accounted
for 33% of our net sales. Through our Electronic Technologies Group, which derived
approximately 55%, of its sales, respectively, from the sale of products and
services to U.S. and foreign military agencies, prime defense contractors and
both commercial and defense satellite and spacecraft manufacturers, we design,
manufacture and sell various types of electronic, microwave and electro-optical
products, including infrared simulation and test equipment, laser rangefinder
receivers, electrical power supplies, back-up power supplies, power conversion
products, underwater locator beacons, electromagnetic interference and radio
frequency interference shielding, high power capacitor charging power supplies,
amplifiers, traveling wave tube amplifiers, photodetectors, amplifier modules,
microwave power modules, flash lamp drivers, laser diode drivers, arc lamp power
supplies, custom power supply designs, cable assemblies, high voltage power
supplies, high voltage interconnection devices and wire, high voltage energy
generators, high frequency power delivery systems, three-dimensional microelectronic
and stacked memory products, harsh environment electronic connectors and other
interconnect products, RF and microwave amplifiers, transmitters and receivers,
wireless cabin control systems, solid state power distribution and management
systems, fuel level sensing systems and high-speed interface products that link
devices such as telemetry receivers, digital cameras, high resolution scanners,
simulation systems and test systems to almost any computer.
69.87 %