We are a global multi-industry company with operations in five business segments'
' Bell, Cessna, Fastening Systems, Industrial and Finance. Our business segments
include operations that are unincorporated divisions of Textron Inc. or its subsidiaries
and others that are separately incorporated subsidiaries.
In the light and medium helicopter market segments, Bell Helicopter has two
major U.S. competitors and one major European competitor. Bell Helicopter markets
its products around the world through its own sales force and through independent
representatives. Price, financing terms, aircraft performance, reliability and
product support are significant factors in the sale of helicopters. Bell Helicopter
has developed the world's largest distribution system to sell and support helicopters,
serving customers in over 100 countries.
Actuation products for the aerospace, defense and industrial markets are sold
under trade names of HR Textron and APCO. Specialty marine, land vehicle, and
turret products are sold under the trade names of Textron Marine & Land
Systems and Cadillac Gage. Weapons, surveillance, and landing systems are sold
under the Textron Systems name. Reciprocating piston aircraft engines are sold
under the Lycoming name directly to general aviation airframe manufacturers
and in the aftermarket through domestic and international distributors. Lycoming
also is the exclusive supplier of engines for Cessna's product line of new single
engine aircraft.
Cessna markets its products worldwide primarily through its own sales force,
as well as through a network of authorized independent sales representatives,
depending upon the product line. Cessna has several competitors in the business
jet market. Cessna's aircraft compete with other aircraft that vary in size,
speed, range, capacity, handling characteristics and price.
Cessna engages in the business jet fractional ownership market through a joint
venture with TAG Aviation S.A., a worldwide aircraft management and charter
enterprise. This joint venture, called CitationShares, began in late 2000. Initially,
it offered shares of Citation aircraft for operation east of the Rocky Mountains.
It has now expanded to the entire contiguous United States.
TFS has hundreds of competitors in the global fastener market, in essentially
three tiers: global multinationals with a global market presence, typically
strong in a market or in one or more product lines; mid-sized regionals with
some global activity but primarily focused on regional market; and small local
firms with a limited range within a particular product category. Competition
is based primarily on price, quality, delivery, service, support and reputation.
In addition, larger customers of fastening systems and engineered assemblies
primarily tend to procure products and services from the larger suppliers. TFS's
broad range of products and customers and markets reduces its risk of a business
loss that would have a material adverse effect on Textron.
The Industrial Segment is comprised of our E-Z-GO, Jacobsen, Kautex, and Tools
& Components businesses.
Our Finance segment consists of Textron Financial Corporation and its subsidiaries.
U.S.'Government is our largest customer.