Polaris Inc - Company Profile
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Business Description
Polaris Inc (Polaris), formerly Polaris Industries Inc, designs, engineers, manufactures, and markets a range of power-sports vehicles. Its products include off-road vehicles (ORVs), all-terrain vehicles (ATVs), side-by-side vehicles, military and commercial ORVs, snowmobiles, motorcycles, moto-roadsters, quadricycles, and boats. The company also designs and manufactures parts, garments, and accessories (PG&A). The company’s products are sold online and through dealers and distributors primarily located in the US, Canada, Western Europe, Australia, and Mexico.
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R&D Overview
Polaris is engaged in the development and testing of existing products, research and development of new products, and improved production techniques. The company also focuses on executing its electrification initiative to position itself as a leader in powersports electrification. The engineering department is equipped to make small quantities of new product prototypes for testing and planning manufacturing procedures. The company also maintains numerous facilities where products are extensively tested under actual use conditions. The R&D units of Polaris are primarily located in the US; Switzerland; and India. These units are responsible for engineering, design, and development of the company's line of engines, powertrains, ORVs, motorcycles, boats, snowmobiles, and ATVs. They also conduct extensive testing of each product under actual use conditions. In FY2024, it spent US$336.9 million on R&D, which stood at 4.7% of its total revenue and declined 9.9% YoY.
Business Segments
Overview
Designs and manufactures boats to compete in major segments of the recreational marine industry, specifically pontoon and deck boat. Its brands include Bennington, Godfrey and Hurricane.
Performance
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Overview
It includes ORVs and snowmobiles. The ORV includes the RZR sport side-by-side, the RANGER utility side-by-side, the GENERAL crossover side-by-side, the Polaris XPEDITION adventure side-by-side, and the Sportsman ATV. The ORVs are sold to customers in North America Western Europe, Australia, and Mexico. The snowmobiles sold principally in the US, Canada, and Northern Europe. It also offers the designing and manufacturing of vehicles that support various commercial and government applications for transporting people and hauling equipment, as well as tactical defense vehicles. Design, engineer, produce, or supply a variety of replacement parts and Polaris Engineered Accessories. Products include winches, bumper/brush guards, plows, racks, wheels and tires, pull-behinds, cab systems, lighting and audio systems, cargo box accessories, tracks, and oil. Also market a full line of gear and apparel related to ORVs, including helmets, jackets, gloves, pants, and hats. Snowmobile accessories include covers, traction products, reverse kits, electric starters, tracks, bags, windshields, oil, lubricants helmets, goggles, jackets, gloves, boots, bibs, pants, and hats. The PG&A products for the Off Road segment include the company's OEM brand and other brands.
Performance
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Overview
Designs and manufactures motorcycles, moto-roadsters, light-duty hauling, and passenger vehicles. Its products include cruisers, touring (including three-wheel), and standard motorcycles. Designs, engineers, produces, or sources a variety of replacement parts and accessories for motorcycles. Motorcycle accessories include saddle bags, handlebars, backrests, exhausts, windshields, seats, oil, and various chrome accessories. Market a full line of gear and apparel including helmets, jackets, leathers, and hats. Also design and manufacture vehicles that support various commercial and industrial work applications and include products in the light-duty hauling, industrial, and urban or suburban commuting sub-sectors. Brands include Goupil and Aixam which are primarily marketed in Western Europe.
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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