Polaris Inc - Company Profile

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Business Description

Polaris Inc (Polaris), formerly Polaris Industries Inc, designs, engineers and manufactures off-road vehicles (ORV), such as all-terrain vehicles (ATV) and side-by-side vehicles; motorcycles; snowmobiles and commercial, government and defense vehicles. The company also sells aftermarket accessories, apparel, related parts, garments and accessories through dealers, distributors and retail stores. The company has its operations in the US, Canada, Western Europe, Australia and Mexico.

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R&D Overview

The company's R&D efforts focus on new product development and to improve production techniques. It has around 1,400 employees who are engaged in the development and testing of existing products and research and development of new products and improved production techniques, located primarily in Roseau, Minnesota, Wyoming, Minnesota, Elkhart, Indiana, Bangalore, India and Burgdorf, Switzerland. The company focuses on the development of innovative, proprietary products, and marketing these products using proprietary expertise, trade secrets, and know-how. In the engineering department, the company uses small quantities of new product prototypes for testing and in the planning of manufacturing procedures. Polaris also maintains other facilities where other products are tested under actual use conditions to develop high-performance, efficient engines and innovative products. In FY2022, it spent US$366.7 million on R&D, which stood at 4.1% of its total revenue and grew 13.9% 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

Comprises of four-wheel off road vehicles and snowmobile vehicles. Designs ORVs for off-road use, traversing rough terrain, fishing, hunting, trail and dune riding, and for utility purposes on farms, ranches and construction sites. Major models include Sportsman ATVs, Polaris ACE, and RANGER, RZR, Polaris GENERAL side-by-side vehicles and ATVs Offers Snowmobile vehicles.

Performance

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Overview

Designs and manufactures motorcycles, moto-roadsters, light duty hauling, and passenger vehicles.

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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