ITT Inc - Company Profile
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Business Description
ITT Inc (ITT), formerly ITT Corp, manufactures a wide range of products including pumps, valves, monitoring and control systems, actuators, switches, brake components, shock absorbers, and isolators. It provides products and services to aerospace, defense, automotive, transportation, healthcare, oil and gas, and industrial markets. The company offers its product in North America, Europe, Asia, South America, Middle East and Africa.
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R&D Overview
ITT's R&D initiatives focus on the design of highly engineered critical components, developing competitive products to meet customer needs, and engineering solutions for specific applications. In 2024, the company invested in the Embedded Motor Drive (EMD), a variable speed motor in customer field trials, and continued advancements in friction brake pad technology for electric and hybrid vehicles, as well as low-emission braking innovations. The EMD is responsible for developing state-of-the-art variable speed motors, while the Friction brake pad business focuses on new brake pad formulations and low-emission braking technology. The company spent US$116.3 million on R&D in FY2024, which as a percentage of revenue, stood at 3.2% and increased 13.4% YoY.
Business Segments
Overview
Designs and manufactures connectors, cable assemblies, and control products for aerospace, defense, industrial, transportation, medical, and energy markets. Major brands include Cannon, VEAM, Micro-Mode, BIW Connector Systems, Aerospace Controls, Enidine, Compact Automation, Neo-Dyn, kSARIA, and Conoflow. In FY2024, the segment’s capital expenditure stood at US$13.1 million, which decreased 18.6% YoY.
Performance
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Overview
It is an original equipment manufacturer and an aftermarket parts and service provider of industrial pumps, valves, plant optimization, and remote monitoring systems. It serves industries such as energy, chemical, pharmaceutical, marine, mining, pulp and paper, food and beverage, power generation, and biopharmaceutical. Major brands include Goulds Pumps, Bornemann, Rheinhütte Pumpen, Engineered Valves, PRO Services, Ctreat, i-ALERT, Hamworthy Pumps, Svanehoj, and Habonim,. Industrial pumps designs and manufactures configured-to-order industry standards-based industrial pumps. Valves products include industrial knife-gate valves, sanitary diaphragm valves and ball valves. Aftermarket solutions include provision of replacement parts, services, and plant optimization solutions. It also develops engineered solutions for process issues. In FY2024, the segment’s capital expenditure stood at US$34.2 million, which grew 93.2% YoY.
Performance
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Overview
Manufactures brake pads, shock absorbers, energy absorption components, and damping technologies primarily for the transportation industry, including automotive and rail markets. It serves passenger cars, trucks, commercial and military vehicles, buses, and trains. It includes three business units: ITT friction technologies, KONI and Axtone business units. ITT Friction Technologies offers brake pads for commercial vehicles and aftermarket brake pads for the automotive service and repairs market. KONI serves the railway rolling stock for passenger and freight trains, bus, car, truck, defense, and trailer markets. Axtone specializes in impact energy absorption technology and push-pull components for passenger and freight rolling stock in rail, metro, and tram applications. Major brands include ITT Friction Technologies, KONI, Axtone, GALT, and Novitek. In FY2024, the segment’s capital expenditure stood at US$75.3 million, which grew 4.6% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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