5.1.5.3Vertical

Commercial Aircraft OEM

Large commercial aircraft original equipment manufacturers.

Market snapshot

These figures describe Commercial Aviation Manufacturing (5.1.5), the segment that Commercial Aircraft OEM sits within. They are not figures for Commercial Aircraft OEM on its own.

Market size
~$133B
Growth
~-6.8%CAGR collapse (2017–22, nominal)
Companies
~606 firms
Firms by employee count

53.5% of firms have fewer than 20 employees: 324 micro-businesses, below most mandates.

The investable universe282 firms with 20+ employees
20–99
14150%
100–499
7125%
500+
7025%

The steep decline measures a fall from a 2017 peak, not a structural shrink: the 737 MAX grounding and the collapse in air travel hit airframes together. Engines and propulsion, counted here alongside airframes, held flat through the same window and soften the drop. Order backlogs are large; the constraint is production rate, not demand.

NAICS 336411, 336412. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Aircraft and propulsion sales against large order backlogs

Key economics

Revenue per firm
$219,313,820
Revenue per employee
$541,154
Employees per firm
405.8
Recurring revenue
Low

large episodic deliveries

EBITDA margin
Cyclical and program-margin-driven
Capex intensity
High

Characteristics

  • Scale-driven: payroll is only 19% of revenue, so the cost base is assets, not headcount
  • Moderate strategic-buyer pool: 70 firms exceed 500 employees, so a scaled asset has buyers, but not many
  • Double shock from 737 MAX grounding and pandemic.
  • Recovering on air-travel rebound and order backlog.
  • Supply-chain and Boeing production constraints limit pace.

NAICS 336411, 336412. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Geographic concentration

AlabamaAlaskaArizonaColoradoFloridaGeorgiaIndianaMaineMassachusettsMinnesotaNew JerseyNorth CarolinaNorth DakotaOklahomaPennsylvaniaSouth DakotaTexasWyomingWest VirginiaIllinoisNew MexicoArkansasCaliforniaDelawareDistrict of ColumbiaHawaiiIowaKentuckyMarylandMichiganMississippiMontanaNew HampshireNew YorkOhioOregonTennesseeUtahVirginiaWisconsinNebraskaSouth CarolinaIdahoNevadaVermontLouisianaRhode IslandKansasConnecticutMissouriWashington

Final assembly concentrates in Washington, with engine and propulsion work in Connecticut, structures and business jets around Wichita, Kansas, and military program sites in Missouri.

WashingtonConnecticutKansasMissouri

U.S. Census Bureau, 2022 County Business Patterns (employment by state), NAICS 336411/336412. Concentration shown by location quotient.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Aerospace OEMs
  • Propulsion & systems strategics
  • Supply-chain consolidators

What’s driving deals

  • Recovery and backlog-driven demand.
  • Supply-chain stabilization and acquisition.
  • Boeing production and quality dynamics.

Find Commercial Aircraft OEM acquisition targets

Search Acquisera’s index for companies classified under Commercial Aircraft OEM (5.1.5.3) and build a targeted deal pipeline.

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