Parker Hannifin Corp - Company Profile
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Business Description
Parker Hannifin Corp (Parker) manufactures motion and control technologies and systems. The company offers an array of precision-engineered solutions for mobile, industrial and aerospace markets. The company operates through two reportable segments, Diversified Industrial and Aerospace Systems. As on June 30, 2023, the company had 335 manufacturing plants in 39 states within the United States and in 43 countries and it supplies products to 548,000 customers. In FY2023, the company incurred a capital expenditure of US$380.7 million which grew 65.5% YoY.
R&D Overview
R&D activities focus on the development of new products and services. The company's recent innovations include air saver switching valve technology, fast-filled compressed natural gas dispenser sets, and modulated turbine clearance control valve. The company has development laboratories and testing facilities in various centers worldwide. Its R&D consists of chemists, physicists, and mechanical, chemical and electrical engineers. In FY2023, it spent US$258 million on R&D, which was 1.4% of its total revenue.
Business Segments
Overview
Offers products to OEMs and end-users for spares, maintenance, repair and overhaul in the commercial and military aerospace markets. - Product portfolio includes flight control, fuel, fluid conveyance, hydraulic and engine systems and components. - Major markets include aftermarket services, commercial transport, engines, general and business aviation, helicopters, military aircraft, missiles, regional transports and unmanned aerial vehicles. - Manufactures aircraft wheels, brakes and associated hydraulic components for general aviation, rotorcraft and military markets. In FY2023, the segment incurred a capital expenditure of US$81.5 million which grew 196.7% YoY.
Performance
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Overview
Offers motion-control and fluid systems and components to both original equipment manufacturers (OEMs) and distributors, who serve the replacement markets in manufacturing, processing, packaging, mobile construction, refrigeration and air conditioning, transportation, agricultural and military machinery and equipment industries. - Consists of engineered materials, filtration, fluid connectors, instrumentation, and motion systems groups - Engineered Materials Group - offers static and dynamic sealing devices - Filtration Group - offers filters, systems and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water and other liquids and gases - Fluid Connectors Group - offers connectors which control, transmit and contain fluid - Instrumentation Group - offers critical flow components for process instrumentation, healthcare and ultra-high purity applications and components for use in refrigeration and air conditioning systems and in fluid control applications for processing, fuel dispensing, beverage dispensing and mobile emissions - Motion Systems Group - offers pneumatic, hydraulic and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment - Offerings include standard products, and custom products which are engineered and produced to OEMs’ specifications for application in particular end products In FY2023, the segment incurred a capital expenditure of US$292.5 million which grew 47.9% YoY.
Performance
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Geographical Segments
Performance
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Performance
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