Howmet Aerospace Inc.

Howmet Aerospace makes engineered metal components and fastening systems used in jet engines, airframes, gas turbines, and commercial vehicle wheels. The company’s core business is supplying high-performance parts that help aircraft and trucks be lighter, more efficient, and able to operate under extreme conditions.

28,2 %

18,3 %

+11,1 %

2.13

1.09

— Howmet Aerospace Inc.
%
Engine Products35% Jet engine castings, rings, disks, and other hot-section components for commercial, defense, and industrial turbines.
Fastening Systems25% Aerospace and industrial fasteners used in airframes, engines, and transportation applications.
Engineered Structures20% Machined and forged aircraft structural parts and other lightweight metal structures.
Forged Wheels20% Forged aluminum commercial vehicle wheels sold to truck and transportation customers.

Howmet sells primarily to aerospace OEMs, engine makers, defense contractors, and tiered suppliers that need...

  • Commercial aerospaceprimary

    Buys engine components, fasteners, and structural parts for narrow-body and wide-body aircraft; demand depends on build rates and spares.

  • Defense aerospaceprimary

    Buys mission-critical engine and structural components for military aircraft and programs with long qualification cycles.

  • Gas turbinessecondary

    Buys investment castings and rings for industrial and aero-derivative turbines, including future growth volumes.

  • Commercial transportationsecondary

    Buys forged aluminum wheels and related products for trucks and other ground transportation applications.

  • Industrial and distribution channelsemerging

    Buys fastening and specialty metal products through direct sales or distributors for non-aerospace uses.

Howmet operates in 19 countries, with sales concentrated in North America and Europe. In 2025, North America...

  • •North America generated 72% of 2025 sales based on shipment point
  • •Europe generated 22% of 2025 sales based on shipment point
  • •Operations span 19 countries across aerospace and transportation hubs
  • •U.S., Canada, and Mexico are key North American operating locations
  • •France, U.K., Hungary, and Germany are key European locations
  • •Japan and China add broader Asia exposure and supply-chain complexity

Howmet is focused on growing with commercial aerospace, defense aerospace, and gas turbines while expanding capacity to...

01
Capacity expansion in aerospace and gas turbinesmedium-term

Demand growth is constrained by qualified manufacturing capacity, so added capacity supports share gains and spares growth.

02
Operational performance and margin enhancementshort-term

Higher throughput, better cost control, and pricing discipline improve conversion of revenue growth into cash flow.

03
Selective M&A in fastenersmedium-term

Acquisitions can add product capability and customer coverage in a fragmented, qualification-driven market.

Howmet’s end markets are cyclical and heavily tied to aerospace build rates, especially Boeing and other large OEMs, so...

high

Customer concentration and OEM production volatility

Large aerospace customers can delay launches, cut rates, or renegotiate terms, reducing Howmet volumes and pricing power.

Scope
Boeing and other major aerospace customers
Materiality
high
high

Intense competition in engineered metals and fasteners

Competitors can offer similar manufacturing processes or alternative technologies, pressuring margins and share.

Scope
Engine products, fasteners, forgings, castings
Materiality
high
high

Cybersecurity and data disruption

A successful attack could interrupt manufacturing, compromise data, and create remediation and legal costs.

Scope
Global operations and connected manufacturing systems
Materiality
medium
high

Product liability and quality claims

Failure of a critical aerospace or transportation part can lead to recalls, claims, and customer loss.

Scope
Mission-critical components and fasteners
Materiality
medium
medium

Foreign exchange, tariffs, and geopolitical exposure

A global footprint creates exposure to currency volatility, trade policy changes, and regional disruptions.

Scope
North America, Europe, Japan, China
Materiality
medium
Goodwill and long-lived asset impairment
Could affect earnings and asset values if market assumptions weaken
Deferred revenue and customer advances
Important in gas turbines and commercial aerospace
Pension and postretirement obligations
Affects operating expense and balance sheet obligations
Derivatives and debt hedging
Can create volatility in non-operating results
Acquisition accounting
Can affect future amortization, impairment risk, and leverage

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: 11/08/2026