HEICO offers innovative solutions to Aerospace Industry
HEICO Corporation (NYSE: HEI, HEI.A) is a successful technology-driven aerospace, industrial, defense and electronics company with global businesses that have provided customers with innovative cost-saving solutions for over 64 years.
HEICO Parts Group (HPG) is the world’s largest independent supplier of FAA-approved PMA parts for virtually every engine platform and ATA chapter, holding over 11,000 FAA approvals, and producing more than 500 new, highly engineered parts each year.
COVID-19 has had a large financial impact on commercial aviation worldwide. Now more than ever, airlines are aggressively seeking operational cost-saving opportunities. HEICO has focused directly on aftermarket savings for airline customers through the development of FAA-approved PMA parts and DER repairs.
A large Asian operator recently updated their policy to embrace HEICO’s FAA-PMA parts. In less than one year, this operator has approved over a dozen HEICO PMAs with savings nearing USD $1m! The pandemic changed this operator’s strategic position, and HEICO is continuing to work with this airline to find even more cost saving HEICO parts.
This airline’s policy update has helped them weather the current pandemic downturn, and will increase their viability well into the future by ensuring lower-cost maintenance at equal to or better reliability.
HEICO believes that the airlines in India have an opportunity to do the same by embracing HEICO’s FAA-PMA offerings.
- HEICO is a strategic source for high-reliability aircraft parts, at attractive prices which result in substantial cost saving for airlines
- If a lease contract does not allow the use of FAA PMA, an airline should contact the lessor and request their allowance. In our experience, and especially with the current competitive environment, many lessors will moderate their positions if specifically asked.
- HEICO can assist in the effort to develop and implement a PMA policy if an airline does not already have one in place.
HEICO’s success stems from the ability to create true leverage for loyal airline customers. While other companies may hold PMA, HEICO is unique in its size, financial strength and breadth of product offerings.
Since 2002, HEICO’s customers have saved over $2 billion by using HEICO parts and repairs.
HEICO projects to save airlines an additional $1.3 billion over the next 3-5 years.