On the heels of its announced acquisition of Vought Aircraft Industries, Triumph Group is eying a significant future expansion of its aircraft portfolio.
Triumph Group CEO Richard Ill is bullish on the future prospects of the company through the expansion of the merged entity's portfolio to include programmes such as the Airbus A350, and increasing its share of the Boeing 787.
Ill says Triumph is looking forward to the re-launch of the Cessna Citation Columbus business aircraft, and the opportunity to enlarge its scope on the Bombardier CSeries and Gulfstream aircraft.
Prospects for growth notwithstanding, the combined company's existing portfolio will centre overwhelmingly on long-standing programmes, rather than new development work, making the need for new expansion imperative, says one industry source.
Peter Arment, managing director of Broadpoint Capital says the acquisition serves as "more of a reshuffling of the aerostructures landscape, and raises the exposure of Triumph Group to tier one level. It puts other companies on notice".
However, as a significant supplier to Boeing on the 767, Triumph Group appears poised to garner significant business as part of the uncertain competition to replace the US Air Force KC-135 tankers.
Additionally, with the anticipated resurgence of the freighter market, the company's contribution on the freighter variants of the A330 and 747-8 enables Triumph to grow within its existing programmes, says Ill.
Vought had been long rumoured to be a candidate for divestment by the aerostructures manufacturer's parent company, The Carlyle Group.
The estimated $1.44 billion deal for the Dallas-based aerostructures company is expected to be completed on or around 1 July, says Ill, at which point Vought Aircraft Industries will become Triumph Aerostructures-Vought Aircraft Division.
Triumph estimates revenue of $3 billion from the Vought business, which is similar to revenue generated by Wichita-based Spirit Aerosystems.