May 12, 2016 – Seat manufacturer Recaro Aircraft Seating has reported that its strategy of growth is resulting in increased revenues. The company has just announced a 2015 turnover of 409 million Euros, which exceeds its 2014 historic high by more than 40 million Euros.
According to Recaro, its sales increase of over 11% positions the company well above average market growth. Since Recaro had anticipated this increase, it significantly expanded its staff in recent years – and by 5% in 2015. This positive trend looks set to continue, as during Aircraft Interiors Expo in April 2016 in Hamburg, the manufacturer announced six new large orders from around the world.
“On average, the aviation industry achieves 5% 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,” stated Dr Mark Hiller, CEO of 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.”
It is worth noting that Recaro reinvests 10% of its sales revenues into in research and development every year.
The company’s strong commitment in the Asia-Pacific region is expected to contribute to these positive results. It is estimated that this market will expand by some 14,330 new aircraft by 2034. Recaro identified this highly potential several years ago. “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,” stated Hiller.
