Spirit AeroSystems Holdings, Inc. (SPR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado mundo de la ingeniería aeroespacial, Spirit Aerosystems Holdings, Inc. (SPR) se erige como una fuerza fundamental, transformando desafíos de fabricación complejos en soluciones innovadoras que alimentan la aviación global. Esta compañía dinámica ha creado meticulosamente un modelo de negocio que integra perfectamente las capacidades tecnológicas de vanguardia con asociaciones estratégicas, posicionándose como un jugador crítico en los sectores aeroespaciales comerciales y militares. Al aprovechar las tecnologías de fabricación avanzadas, la experiencia de ingeniería profunda y una sólida cadena de suministro global, Spirit Aerosystems ha desarrollado una propuesta de valor única que impulsa el futuro del diseño y producción de componentes aeroespaciales.

Spirit Aerosystems Holdings, Inc. (SPR) - Modelo de negocios: asociaciones clave

Aviones comerciales de Boeing

La asociación estratégica más grande de Spirit Aerosystems, que genera el 80% de sus ingresos a partir de 2023. Produce Boeing Key 737 Max, 787 Dreamliner y 777X Componentes de fuselaje.

Métrico de asociación	Valor
Valor anual del contrato	$ 3.9 mil millones
Duración del contrato a largo plazo	15 años
Volumen de fabricación	52 fuselajes por mes

Aerobús

Asociación estratégica secundaria que se centra en los componentes de la aeronave familiar A320.

Detalles de la asociación	Especificación
Contribución anual de ingresos	$ 750 millones
Producción de componentes	Secciones de fuselaje hacia adelante y con popa

Lockheed Martin

Asociación de fabricación de componentes de defensa y aeronaves militares.

• Componentes de la aeronave C-130 Hércules
• Valor anual del contrato: $ 250 millones
• Producción de conjuntos de alas y secciones de fuselaje

Aviación General Eléctrica

Colaboración de fabricación de náculas y sistemas de pylon.

Métricas de asociación	Datos
Valor anual del contrato	$ 500 millones
Programas clave	Góndolas de motor salto, boeing 737 max

Rolls-Royce Holdings

Asociación de fabricación de componentes aeroespaciales para motores comerciales y militares.

• Producción de sistemas de reversiones de nácela y empuje
• Ingresos anuales de asociación: $ 400 millones
• Programas clave del motor: Trent 700, Trent XWB

Spirit Aerosystems Holdings, Inc. (SPR) - Modelo de negocio: actividades clave

Fabricación de componentes de aeronaves

Spirit Aerosystems fabrica componentes aeroespaciales críticos para los principales fabricantes de aviones. En 2023, la compañía produjo:

Tipo de componente	Volumen de producción anual
Secciones de fuselaje	550 unidades
Conjuntos de alas	475 unidades
Náculas del motor	425 unidades

Diseño e ingeniería estructural aeroespacial

Las capacidades de ingeniería de la compañía incluyen:

• Tecnologías de diseño digital y simulación 3D
• Modelado computacional avanzado
• Análisis estructural y optimización

La inversión de I + D en 2023 fue de $ 285 millones.

Fabricación avanzada de compuesto y metal

Tipo de fabricación	Capacidad anual	Tipos de materiales
Fabricación compuesta	1.200 toneladas métricas	Fibra de carbono, fibra de vidrio
Fabricación de metal	2.500 toneladas métricas	Aleaciones de aluminio, titanio

Mecanizado de precisión y ensamblaje

Capacidades de fabricación de precisión:

• Tolerancias de mecanizado CNC: ± 0.0005 pulgadas
• Líneas de ensamblaje automatizadas
• Tasa de inspección de control de calidad: 99.7%

Investigación y desarrollo de tecnologías aeroespaciales

2023 Métricas de desarrollo de tecnología:

Área de enfoque de I + D	Solicitudes de patentes	Inversión tecnológica
Materiales avanzados	37 aplicaciones	$ 125 millones
Procesos de fabricación	22 aplicaciones	$ 95 millones

Spirit Aerosystems Holdings, Inc. (SPR) - Modelo de negocio: recursos clave

Instalaciones de fabricación avanzadas

Spirit Aerosystems opera instalaciones de fabricación en múltiples ubicaciones estratégicas:

Ubicación	Tipo de instalación	Tamaño (pies cuadrados)
Wichita, Kansas	Sede principal	2.5 millones
Tulsa, Oklahoma	Fabricación de componentes	1.8 millones
McAllen, Texas	Fabricación de precisión	500,000
Kinston, Carolina del Norte	Fabricación compuesta	350,000

Experiencia especializada en ingeniería aeroespacial

Spirit Aerosystems mantiene una fuerza laboral de ingeniería robusta con las siguientes características:

• Fuerza laboral de ingeniería total: 4.800 ingenieros
• Títulos avanzados: 35% del personal de ingeniería
• Experiencia promedio de ingeniería: 15 años
• Inversión anual de I + D: $ 287 millones

Tecnologías de fabricación patentadas

Las capacidades tecnológicas clave incluyen:

• Fabricación compuesta avanzada procesos
• Tecnologías de mecanizado de precisión
• Sistemas de inspección automatizados
• Plataformas de ingeniería digital

Fuerza laboral de ingeniería aeroespacial calificada

Composición de la fuerza laboral a partir de 2024:

Categoría de empleado	Número de empleados	Porcentaje
Total de empleados	14,200	100%
Personal de ingeniería	4,800	33.8%
Técnicos de fabricación	7,600	53.5%
Personal administrativo	1,800	12.7%

Equipo de capital e infraestructura

Detalles de la inversión de capital:

Categoría de equipo	Valor total	Mantenimiento anual
Maquinaria de fabricación	$ 1.2 mil millones	$ 75 millones
Sistemas de diseño asistidos por computadora	$ 180 millones	$ 22 millones
Equipo de control de calidad	$ 95 millones	$ 12 millones

Spirit Aerosystems Holdings, Inc. (SPR) - Modelo de negocio: propuestas de valor

Fabricación de componentes aeroespaciales de alta precisión

Spirit Aerosystems produce componentes aeroespaciales críticos con capacidades de fabricación de precisión. En 2023, la compañía fabricó aproximadamente 48 fuselajes para aviones Boeing 737 Max por mes, con una capacidad de producción anual total de 576 fuselajes.

Tipo de componente	Volumen de producción anual	Tolerancia de precisión
Fuselajes	576 unidades	± 0.005 pulgadas
Estructuras del ala	432 unidades	± 0.003 pulgadas

Capacidades de diseño estructural complejos

Spirit Aerosystems invierte significativamente en tecnologías de diseño avanzadas. En 2023, la compañía gastó $ 287 millones en investigación y desarrollo, centrándose en innovaciones de diseño estructural complejos.

• Capacidades avanzadas de modelado 3D
• Simulación de dinámica de fluidos computacionales
• Tecnologías de análisis de elementos finitos

Soluciones aeroespaciales rentables

La compañía mantiene precios competitivos a través de procesos de fabricación eficientes. En 2023, Spirit Aerosystems logró una reducción de costos de fabricación del 7,2% en comparación con el año anterior.

Métrico de costo	Valor 2022	Valor 2023	Cambio porcentual
Costo de fabricación por unidad	$ 1.2 millones	$ 1.11 millones	-7.2%

Tecnologías avanzadas de fabricación de compuestos y metales

Spirit Aerosystems utiliza tecnologías de fabricación de vanguardia. En 2023, la compañía procesó 12.500 toneladas métricas de materiales compuestos y 18,750 toneladas métricas de metales de grado aeroespacial.

• Fabricación compuesta de fibra de carbono
• Fabricación de aleación de titanio
• Procesamiento de materiales avanzados de aluminio litio

Integración global de la cadena de suministro aeroespacial

La compañía opera en múltiples ubicaciones globales, sirviendo a los principales fabricantes aeroespaciales. En 2023, Spirit Aerosystems tenía instalaciones de fabricación en cuatro países y atendió a clientes en más de 25 países.

Ubicación	Tipo de instalación	Capacidad de producción anual
Wichita, Kansas, EE. UU.	Manufactura principal	70% de la producción total
Tulsa, Oklahoma, EE. UU.	Fabricación secundaria	15% de la producción total
Ubicaciones internacionales	Instalaciones satelitales	15% de la producción total

Spirit Aerosystems Holdings, Inc. (SPR) - Modelo de negocios: relaciones con los clientes

Contratos estratégicos a largo plazo

Spirit Aerosystems mantiene contratos estratégicos a largo plazo con los principales fabricantes aeroespaciales, que incluyen:

Cliente	Tipo de contrato	Valor estimado del contrato
Boeing	Fabricación de fuselaje	$ 4.5 mil millones (2023)
Aerobús	Producción de fuselaje	$ 3.2 mil millones (2023)

Asociaciones de ingeniería colaborativa

Spirit Aerosystems se dedica a asociaciones de ingeniería colaborativa con clientes aeroespaciales clave:

• Boeing 737 Desarrollo de componentes estructurales Max
• Airbus A320 Técnicas de fabricación avanzada
• Colaboración de diseño de fuselaje Gulfstream G500/G600

Soporte técnico dedicado

Métricas de soporte técnico para 2023:

Categoría de apoyo	Tiempo de respuesta	Tasa de resolución
Asistencia técnica en el sitio	4 horas	98.5%
Soporte de ingeniería remota	2 horas	99.2%

Soluciones de fabricación personalizadas

Capacidades de personalización de fabricación:

• Fabricación de precisión: Niveles de tolerancia dentro de 0.001 pulgadas
• Integración de material compuesto avanzado
• Servicios de prototipos rápidos

Soporte continuo de innovación y desarrollo

Investigación y inversión de desarrollo:

Año	Gasto de I + D	Solicitudes de patentes
2023	$ 287 millones	42 nuevas patentes
2022	$ 265 millones	38 nuevas patentes

Spirit Aerosystems Holdings, Inc. (SPR) - Modelo de negocio: canales

Equipos de ventas directos

Spirit Aerosystems mantiene una fuerza de ventas directa dedicada de aproximadamente 62 profesionales de desarrollo empresarial a partir de 2023. El equipo de ventas se centra en fabricantes aeroespaciales clave, incluidos Boeing, Airbus y Bombardier.

Segmento de clientes	Número de representantes de ventas dedicados	Cobertura de ventas anual
Fabricantes de aviones comerciales	38	$ 4.8 mil millones
Defensa & Aeroespacial militar	24	$ 1.2 mil millones

Ferias comerciales de la industria aeroespacial

Spirit Aerosystems participa en las 7-9 mayores ferias comerciales aeroespaciales internacionales anualmente, que incluyen:

• París Air Show
• Farnborough International Airshow
• Convención de aviación empresarial de la NBAA
• Dubai Airshow

Conferencias técnicas

La compañía participa en 12-15 conferencias técnicas por año, con una inversión promedio de $ 475,000 en participación de conferencias y redes.

Tipo de conferencia	Participación anual	Presupuesto estimado de redes
Conferencias de ingeniería aeroespacial	8	$275,000
Conferencias de tecnología de fabricación	4	$200,000

Plataformas de propuestas técnicas en línea

Spirit Aerosystems utiliza 3 plataformas principales en línea para presentaciones de propuestas técnicas, con una inversión anual de infraestructura digital de $ 1.2 millones.

Gestión de cuentas estratégicas

La compañía mantiene relaciones estratégicas de cuentas con 6 fabricantes aeroespaciales primarios, que representan el 92% de su flujo de ingresos totales.

Cuenta estratégica	Valor anual del contrato	Duración del contrato
Boeing	$ 3.9 mil millones	10 años
Aerobús	$ 2.1 mil millones	8 años

Spirit Aerosystems Holdings, Inc. (SPR) - Modelo de negocio: segmentos de clientes

Fabricantes de aviones comerciales

Spirit Aerosystems sirve a los principales fabricantes de aviones comerciales con detalles precisos del segmento de clientes:

Cliente	Porcentaje de ingresos	Segmento de producto primario
Boeing	54.7%	Fuselaje, Nacelas, Pylons
Aerobús	22.3%	Componentes de ala, secciones de fuselaje

Contratistas aeroespaciales militares

El compromiso militar del cliente incluye:

• Lockheed Martin
• Northrop Grumman
• Sistemas BAE

Cliente militar	Valor de contrato	Producto de defensa principal
Departamento de Defensa de los Estados Unidos	$ 687 millones	Estructuras de aviones militares

Empresas aeroespaciales globales

Distribución internacional de clientes aeroespaciales:

Región	Contribución de ingresos	Clientes clave
América del norte	72.5%	Boeing, Gulfstream
Europa	19.3%	Airbus, Dassault
Asia-Pacífico	8.2%	Comac, Mitsubishi

Productores de aeronaves regionales

La participación del cliente de la aeronave regional se centra en:

• Aberrante
• Bombardero
• ATR

Proveedores de componentes aeroespaciales

Las interacciones de la cadena de suministro de componentes incluyen:

Categoría de proveedor	Volumen de transacción anual	Componentes primarios
Proveedores de nivel 1	$ 1.2 mil millones	Componentes estructurales
Proveedores de nivel 2	$ 456 millones	Subconjuntos

Spirit Aerosystems Holdings, Inc. (SPR) - Modelo de negocio: Estructura de costos

Alta inversión de equipos de capital

En 2023, Spirit Aerosystems reportó gastos de capital de $ 235 millones. La propiedad, planta y equipo (PP&E) de la compañía (PP&E) Net Book Value fue de $ 2.97 mil millones al 31 de diciembre de 2023.

Categoría de equipo	Monto de inversión (2023)
Maquinaria de fabricación avanzada	$ 127.5 millones
Herramientas de precisión	$ 62.3 millones
Equipo de prueba aeroespacial	$ 45.2 millones

Extensos gastos de investigación y desarrollo

Los gastos de I + D para Spirit Aerosystems en 2023 totalizaron $ 189 millones, lo que representa el 2.8% de los ingresos totales.

• Investigación de materiales compuestos: $ 62.4 millones
• Tecnologías de fabricación avanzada: $ 47.6 millones
• Innovación de diseño aeroespacial: $ 79 millones

Costos laborales para la fuerza laboral de ingeniería especializada

La compensación total de los empleados en 2023 fue de $ 1.87 mil millones. La compañía empleó a aproximadamente 14,500 trabajadores, con un salario anual promedio de $ 129,000 para profesionales de la ingeniería.

Categoría de empleado	Compensación anual promedio
Profesionales de ingeniería	$129,000
Técnicos de fabricación	$85,500
Personal administrativo	$72,300

Adquisición de materia prima

Los costos de materia prima en 2023 fueron de $ 2.4 mil millones, lo que representa el 35.6% de los ingresos totales.

• Aluminio de grado aeroespacial: $ 782 millones
• Materiales compuestos: $ 543 millones
• Aleaciones de titanio: $ 415 millones
• Metales especializados: $ 660 millones

Gestión de la cadena de suministro compleja

Los costos de gestión de la cadena de suministro en 2023 fueron de $ 312 millones, con 78 proveedores principales en múltiples países.

Categoría de gastos de la cadena de suministro	Costo (2023)
Logística y transporte	$ 124 millones
Gestión de proveedores	$ 87 millones
Gestión de inventario	$ 101 millones

Spirit Aerosystems Holdings, Inc. (SPR) - Modelo de negocio: flujos de ingresos

Venta de componentes de aeronaves comerciales

En 2023, Spirit Aerosystems informó ingresos por ventas de componentes de aeronaves comerciales de $ 4.7 mil millones. La compañía suministra componentes clave para los aviones Boeing 737, 787 y Airbus A320.

Programa de aviones	Contribución de ingresos	Componentes clave
Boeing 737	$ 2.1 mil millones	Fuselaje, pilones
Boeing 787	$ 1.3 mil millones	Fuselaje, secciones
Airbus A320	$ 1.3 mil millones	Pilones, náculas

Contratos aeroespaciales militares

Los ingresos del contrato aeroespacial militar para 2023 totalizaron $ 1.2 mil millones, con contribuciones significativas de los programas de defensa.

• Componentes de la aeronave Poseidón de la Marina de los EE. UU.: $ 350 millones
• Estructuras de aviones de transporte militar: $ 450 millones
• Programas de helicópteros de defensa: $ 400 millones

Servicios de diseño de ingeniería

Los servicios de diseño de ingeniería generaron $ 280 millones en ingresos durante 2023, centrándose en soluciones avanzadas de ingeniería aeroespacial.

Soporte de componentes del mercado de accesorios

Los ingresos por soporte de componentes del mercado de accesorios alcanzaron los $ 650 millones en 2023, proporcionando servicios de mantenimiento, reparación y revisión.

Categoría de servicio	Ganancia	Mercados clave
Avión comercial MRO	$ 450 millones	Aerolíneas globales
Reparación de componentes militares	$ 200 millones	Contratistas de defensa

Acuerdos de licencia y desarrollo de tecnología

Los acuerdos de licencia y desarrollo de tecnología contribuyeron con $ 180 millones a los ingresos de Spirit Aerosystems en 2023.

• Licencias de tecnología de materiales compuestos: $ 80 millones
• Acuerdos avanzados de procesos de fabricación: $ 100 millones

Spirit AeroSystems Holdings, Inc. (SPR) - Canvas Business Model: Value Propositions

Spirit AeroSystems Holdings, Inc.'s value proposition centers on its deep, integrated capability in designing and building large, complex aerostructures for major original equipment manufacturers (OEMs).

Integrated design and manufacturing of critical primary structures.

Spirit AeroSystems provides the core structural elements for some of the world's most important aircraft. This capability is evidenced by their ongoing work on major platforms, which translates directly into a massive order book. Spirit AeroSystems Holdings, Inc.'s total backlog at the end of the third quarter of 2025 was approximately US$52 billion, covering work across all Airbus and Boeing platforms. This backlog underpins the value of their manufacturing expertise.

Risk-sharing partner in developing new aircraft programs.

The company positions itself as a trusted partner that helps prime contractors reduce risk on new development programs. This is demonstrated by their involvement in next-generation military platforms. Spirit AeroSystems Holdings, Inc. is a proud member of the industry team for the Northrop Grumman B-21 Raider program. Furthermore, they are involved in the development of the Bell Helicopter V-280 Valor tiltrotor. On the commercial side, Spirit AeroSystems Holdings, Inc. secured a contract in January 2025 to build composite fuselage structures for a leading eVTOL developer, showing expansion into advanced air mobility.

The nature of these partnerships often involves shared financial exposure, as seen in the financial reporting, where total changes in estimates for Q3 2025 included $585 million in net forward losses, driven in part by programs like the Boeing 787 and Airbus A350. This financial exposure is the cost of being a risk-sharing development partner.

High-volume production capability for narrow-body aircraft (737 fuselage).

The ability to produce the Boeing 737 fuselage, the best-selling commercial jet, at scale is a core value. Following production rate constraints in 2024, Spirit AeroSystems Holdings, Inc. was reportedly lifting its 737 fuselage production from 21 to 31 fuselages a month as of early 2025, working toward Boeing's target of 38 per month. Boeing has since gained approval to raise the rate to 42 aircraft per month by year-end 2025. Higher production activity, particularly on the Boeing 737, was the primary driver for the Q3 2025 revenue increase to $1.6 billion. The company delivered 282 737/MAX shipsets in the full year 2022.

The high-volume capability is quantified by the scale of their work:

Program	Component Supplied	Related Financial Metric (Q3 2025)
Boeing 737/MAX	Fuselage Barrels	Net Forward Losses of $585 million (partially driven by 737 costs)
Boeing KC-46 Tanker	Forward Fuselage (Section 41), Strut, Nacelle Components	Defense & Space segment revenue increased due to higher activity on the KC-46
Boeing P-8A Poseidon	Fuselage (737 Derivative)	Defense & Space segment revenue increased due to higher activity on the P-8

Lighter, more efficient composite aerostructures for fuel savings.

Spirit AeroSystems Holdings, Inc. contributes to customer goals for fuel efficiency and lower emissions through the use of advanced materials. It is estimated that over 50% of new commercial aircraft will be made from composites by 2025. For next-generation aircraft like the Boeing 787 and Airbus A350, composites account for up to 50% of the structural weight. The value proposition here is direct: every 1% reduction in aircraft weight results in approximately 0.75% fuel savings. Spirit AeroSystems Holdings, Inc. is actively building composite fuselage structures, as evidenced by their January 2025 contract win for an eVTOL developer.

Single-source supplier for major components, simplifying customer supply chain.

By acting as the single-source provider for major assemblies, Spirit AeroSystems Holdings, Inc. simplifies the complex aerospace supply chain for its customers. This is a key part of their relationship with Boeing, which is in the final stages of reacquiring the company, expected to close by the end of 2025. This integration is intended to streamline quality and production, with Boeing noting a 75% improvement in quality coming out of Spirit following direct intervention. Even with the Boeing merger pending, Spirit maintains critical relationships with competitors, as the FTC approval required Spirit to continue as a supplier to Boeing's competitors for military aircraft programs. Furthermore, Spirit AeroSystems Holdings, Inc. has a support agreement with Airbus, which includes a $200 million non-interest-bearing line of credit to support Airbus programs, with repayment obligations assumed by Airbus upon closing of asset divestitures.

• Deliveries of the Boeing 737 were significantly higher year-over-year in Q2 2025, recovering from 2024 delays.
• Q2 2025 Revenue was $1.6 billion, an increase from the same period in 2024.
• Adjusted EPS for Q3 2025 was $(4.87).
• Cash balance at the end of Q3 2025 was $299 million.

Finance: draft 13-week cash view by Friday.

Spirit AeroSystems Holdings, Inc. (SPR) - Canvas Business Model: Customer Relationships

You're looking at the core of Spirit AeroSystems Holdings, Inc.'s value proposition-the deep, often complex, relationships with the world's largest airframe manufacturers. This isn't just transactional; it's about being an integrated part of their production line.

Deeply embedded, long-term strategic partnership model

Spirit AeroSystems operates as an integrated partner with its largest customers, Boeing and Airbus. This partnership focus is critical, especially given the market's scrutiny over execution and quality. The sheer volume of committed work underscores this reliance; Spirit AeroSystems' total backlog at the end of the third quarter of 2025 was approximately $52 billion. This backlog covers work packages on all major Airbus and Boeing platforms. The relationship with Boeing is reaching a new level of integration, evidenced by the proposed acquisition, which was expected to close in the fourth quarter of 2025 for $8.3 billion. This move by Boeing is explicitly aimed at gaining strategic supply chain control and improving quality.

The structure reflects this deep embedding, organizing operations around key customer programs:

• Commercial Division oversees global operations with Airbus and Boeing.
• The company provides products for customers including Airbus, Boeing, Bombardier, and Mitsubishi.
• Spirit AeroSystems builds fuselage systems, propulsion systems, and wing systems.

Dedicated program teams for each major platform (e.g., 737, A350)

The operational reality involves managing distinct, dedicated efforts for major platforms, which is reflected in the financial reporting of estimate changes. The net forward losses for the entire company in the third quarter of 2025 totaled $585 million, driven by costs on specific programs.

Here's a breakdown of how those estimate changes hit the segments in Q3 2025:

Program Area	Net Forward Losses (Q3 2025)	Unfavorable Cumulative Adjustments (Q3 2025)
Commercial Segment Total	$578 million	$11 million
Defense & Space Segment Total	$8 million	$4 million

The forward losses in the Commercial segment were primarily driven by the Boeing 737, Boeing 787, Airbus A220, and Airbus A350 programs. For instance, production rates for the Airbus A350 composite structures in Kinston, North Carolina, have doubled in the last several years.

Collaborative quality and product verification processes with customers

Maintaining quality is a non-negotiable operational necessity, and collaboration is key to meeting delivery targets. The recovery in production volume is a direct result of this joint effort. Boeing 737 deliveries were significantly higher year-over-year in Q3 2025, which was directly attributed to the delay in 2024 caused by the joint product verification process initiated by Boeing. This recovery helped improve cash flow usage in Q3 2025. The company's structure includes leadership overseeing specific customer programs, such as Senior Vice President Boeing Programs and Senior Vice President Airbus and Business/Regional Jet Programs.

Contractual agreements with significant forward loss provisions

The nature of the long-term contracts means Spirit AeroSystems often absorbs upfront cost risks, which materialize as estimate changes. Total changes in estimates for Q3 2025 included net forward losses of $585 million and unfavorable cumulative adjustments of $14 million. These provisions reflect rising production and supply chain costs. To be fair, the company's overall revenue for Q3 2025 was $1.6 billion, making the $585 million in forward losses a significant operational headwind for that single quarter.

Direct sales and support for Aftermarket MRO services

Spirit AeroSystems supports its products post-delivery through its Aftermarket segment. This segment saw revenue increase slightly in the first quarter of 2025 compared to the prior year. In the second quarter of 2025, Aftermarket segment revenue also increased slightly year-over-year. Historically, the goal was for the aftermarket business to reach 20% of total revenue, up from being only 2-3% of total revenue as of 2022. The company has been developing a bigger sales team and stronger customer service organization to support this direct service offering.

Spirit AeroSystems Holdings, Inc. (SPR) - Canvas Business Model: Channels

Direct delivery from Spirit AeroSystems facilities to OEM final assembly lines is the primary channel for commercial program volume. For instance, in the second quarter of fiscal year 2025, the Commercial segment generated $1.27 billion in revenue, representing the lion's share of the total $1.64 billion consolidated revenue for that period. Spirit AeroSystems Holdings, Inc. shipped components for 429 shipsets in the first quarter of 2025, reflecting a catch-up on delayed Boeing 737 shipments. The company's total backlog, which provides a multi-year revenue runway, stood at approximately $52 billion at the end of the third quarter of 2025.

The global manufacturing footprint is structured to feed multiple customer assembly sites worldwide. This network supports both Boeing and Airbus programs, though certain assets are subject to divestiture as part of the pending acquisition agreement.

Facility Location	Primary Program Component Supplied	Customer OEM
Wichita, Kansas	Boeing 737 Fuselages, A220 Pylons	Boeing, Airbus
Kinston, North Carolina	A350 Fuselage Sections	Airbus
St. Nazaire, France	A350 Fuselage Sections	Airbus
Belfast, Northern Ireland	A220 Wings and Mid-Fuselage Sections	Airbus
Casablanca, Morocco	A321 and A220 Components	Airbus

Aftermarket spare parts sales flow through dedicated internal channels, which showed positive momentum in the third quarter of 2025. The Aftermarket segment revenue increased from the same period in the prior year, driven by higher spare part sales and increased maintenance, repair, and overhaul (MRO) activity. In the first quarter of 2025, the Aftermarket segment saw revenue growth of +3.4%, though the operating margin slipped to 14.6% due to mix shifts. For context, in the second quarter of 2025, the Aftermarket segment generated $102.80 million in revenue.

Direct engagement with defense ministries is managed through the Defense & Space segment, which saw its revenue increase in the third quarter of 2025 compared to the prior year. In the second quarter of 2025, this segment contributed $266 million to the total revenue. Spirit AeroSystems Holdings, Inc. maintains significant direct government contracts, including a cost-plus-fixed-fee contract from DARPA for the Caliente Program valued at $12,950,335, with an estimated completion date of December 2025. Furthermore, the company holds a significant Indefinite Delivery Vehicle (IDV) contract, the Eglin Wide Agile Acquisition Contract (EWAAC), with a ceiling value of $46 billion running through September 2031.

• Defense & Space Q1 2025 revenue growth was 4.1%.
• Defense & Space recorded an operating loss of $11 million in Q1 2025.
• Spirit AeroSystems Inc. supplies parts for the Northrop Grumman B-21 stealth bomber and the Bell V-280 Valor.

Spirit AeroSystems Holdings, Inc. (SPR) - Canvas Business Model: Customer Segments

You're looking at the core of Spirit AeroSystems Holdings, Inc.'s business, which is heavily concentrated on a few massive aerospace original equipment manufacturers (OEMs). The customer base is defined by large, long-term supply agreements for major aircraft structures.

The relationship with major commercial aircraft OEMs is the dominant factor in Spirit AeroSystems Holdings, Inc.'s financial profile. As of the end of the third quarter of 2025, the total company backlog stood at approximately $52 billion, which covers work packages across all commercial platforms for both Airbus and Boeing. Revenue growth in the third quarter of 2025 was directly tied to increased production rates on these commercial programs.

Here's a look at the key customer groups and the latest available metrics:

Customer Segment	Key Program Involvement/Metric	Latest Financial/Statistical Data (as of Q3 2025)
Major Commercial Aircraft OEMs	Total Company Backlog (Includes all Airbus/Boeing work)	$52 billion
Major Commercial Aircraft OEMs	Third Quarter 2025 Revenue	$1.6 billion (Total Company Revenue)
Major Commercial Aircraft OEMs	Last Twelve Months Revenue (Ending Q3 2025)	$6.39 billion
Major Commercial Aircraft OEMs	Net Forward Losses Recognized (Q3 2025 Commercial Segment)	$578 million
Major Commercial Aircraft OEMs	Excess Capacity Costs (Q3 2025 Commercial Segment)	$43 million
Defense and Space Primes	Revenue Driver	Higher production activity contributed to Q3 2025 revenue increase
Business Jet Manufacturers	Training Services Metric (Bombardier Global 6500)	VAST platform delivered over 6,250 hours of instruction
Commercial Airlines and MRO providers	Aftermarket Activity	Revenue increased in Q3 2025 due to higher spare part sales and MRO activity

The reliance on the top two customers is substantial, as seen in historical data, where revenues for the twelve months ended December 31, 2023, were split between Boeing at $3,847.1 million and Airbus at $1,144.6 million.

Spirit AeroSystems Holdings, Inc. serves Defense and Space Primes for military derivative programs. Revenue in the third quarter of 2025 saw a lift from higher production on these Defense & Space programs.

For business jet manufacturers, the company provides specific support, such as the VAST platform for Bombardier Global 6500 aircraft operations, which sustained an operational tempo of approximately 450 flight hours per month in the third quarter of 2025.

The Aftermarket services, targeting Commercial Airlines and MRO providers, showed positive momentum in the third quarter of 2025. This segment's revenue grew from the prior year's third quarter, driven by two specific areas:

• Higher spare part sales.
• Increased maintenance, repair and overhaul (MRO) activity.

The near-term financial health is also tied to customer financing, as customer advances received in 2024 and 2025 provided essential operational liquidity. Finance: draft 13-week cash view by Friday.

Spirit AeroSystems Holdings, Inc. (SPR) - Canvas Business Model: Cost Structure

You're looking at the cost side of Spirit AeroSystems Holdings, Inc.'s operations as of late 2025, and honestly, it's dominated by large, unavoidable expenses tied to complex, long-term aerospace programs. We need to see where the money is actually going.

The structure is heavily weighted toward high fixed costs from global manufacturing plant operations. While I don't have the total fixed cost number for Q3 2025, these costs cover the overhead necessary to maintain the physical footprint required to build major aerostructures, regardless of immediate production volume. This fixed base is a major factor in profitability when volume dips or changes unexpectedly.

Next up, you've got significant material and supply chain costs, including tariffs. The financial reports from Q3 2025 clearly show this pressure point. The primary driver for the massive estimate changes was 'supply chain and production cost growth.' This tells you that the cost and availability of raw materials and purchased components, plus logistics, are eating into margins significantly.

Then there's the labor costs for a large, union-represented, defintely skilled workforce. The company noted the ongoing challenge in attracting and retaining the skilled workforce necessary for production and development in a competitive market. While I can't pull the total labor expense from the Q3 2025 release, this skilled base represents a substantial, necessary, and often contractually locked-in cost component.

The financial impact of these pressures is immediately visible in the charges taken against earnings. For the third quarter of 2025, the company recorded total changes in estimates that included net forward losses of $585 million. This figure captures the expected future costs, largely driven by those supply chain and production escalations on programs like the Boeing 737, Boeing 787, Airbus A220, and Airbus A350.

Also hitting the cost structure directly were the costs associated with idle resources. Spirit AeroSystems Holdings, Inc. reported excess capacity costs, totaling $55 million in Q3 2025. This is the expense of keeping facilities and personnel ready when production rates don't immediately meet the planned schedule. For context, this was an improvement from the $70 million seen in the same period last year, but still a major quarterly cash outlay.

Here's a quick look at the major cost-related charges impacting the third quarter of 2025 results:

Cost/Charge Category	Q3 2025 Amount	Primary Driver Mentioned
Net Forward Losses (Estimate Change)	$585 million	Supply chain and production cost growth
Unfavorable Cumulative Catch-up Adjustments (Estimate Change)	$14 million	Increased production costs on Boeing 737 and 777 programs
Excess Capacity Costs	$55 million	Abnormal production costs
Total Changes in Estimates (Sum of above)	$599 million	Program cost growth and production inefficiencies

The cost structure is further complicated by program-specific issues, which manifest in these estimate changes. You can see the breakdown of the major charges that hit the operating loss:

• Net forward losses of $585 million across key commercial programs.
• Unfavorable cumulative catch-up adjustments of $14 million.
• Defense & Space segment specifically recorded net forward losses of $8 million and excess capacity costs of $12 million.
• Commercial segment change in estimates included $578 million of net forward losses.

The company's backlog at the end of Q3 2025 was approximately $52 billion, which means these cost pressures are baked into a massive volume of future work, making cost control critical.

Spirit AeroSystems Holdings, Inc. (SPR) - Canvas Business Model: Revenue Streams

You're looking at the core of how Spirit AeroSystems Holdings, Inc. brings in cash, which is heavily tied to the production rhythm of major commercial aircraft manufacturers. Honestly, the numbers tell a clear story about where the money is coming from right now, as of late 2025.

The top-line performance for the third quarter of 2025 showed total revenue hitting $1.6 billion. That's the starting point for everything else. Looking back over the last year, the trailing twelve-month sales reached $6.39 billion. That figure gives you a better sense of the run rate, even with the quarterly volatility we see in this industry.

The revenue streams are clearly segmented, reflecting the company's main business lines. You can see the dominance of the commercial side, but the other segments are still vital pieces of the puzzle.

Here's how the Q3 2025 revenue broke down across the main segments, which is helpful for understanding the current mix:

Revenue Stream Segment	Q3 2025 Revenue (Approximate)	Percentage of Total Revenue (Q3 2025)
Commercial Aerostructures	$1.17 billion	73.80%
Defense & Space	$304.1 million	N/A (Calculated $\approx 19.0\%$)
Aftermarket Services	$111.2 million	N/A (Calculated $\approx 7.0\%$)

Commercial Aerostructures sales remain the engine, driven by higher production activity on key platforms. This stream is the majority of the revenue, as you noted. The recent increase in Boeing 737 deliveries, recovering after the 2024 verification delays, definitely helped boost this segment's top line in Q3 2025.

The Defense and Space program sales provide a necessary counter-balance, though it's a smaller piece of the pie. This revenue comes from significant government contracts. You're seeing activity here primarily on programs like the Boeing P-8 maritime patrol aircraft and the KC-46 Tanker program.

The Aftermarket services revenue, which covers Maintenance, Repair, and Overhaul (MRO) work and spare parts, is the third pillar. While it's the smallest revenue contributor in the quarter, it often carries a different margin profile than the new production work. For instance, Aftermarket segment revenue rose by 12% year-over-year in Q3 2025, reaching $111.2 million.

To be fair, the backlog gives you a forward-looking view of committed revenue, and Spirit AeroSystems Holdings, Inc.'s backlog at the end of Q3 2025 was substantial, sitting at approximately $52 billion. This backlog includes work packages across all the major commercial platforms from both Airbus and Boeing.

The key drivers for the Commercial Aerostructures revenue stream include:

• Work packages for the Boeing 737 program.
• Fuselage sections for the Airbus A320 family.
• Production on the Airbus A220 and A350 programs.
• Fuselage sections for the Boeing 787 program.

The Defense & Space revenue stream is anchored by specific, high-profile defense contracts:

• Higher activity on the Boeing P-8 program.
• Work related to the KC-46 Tanker program.

The Aftermarket stream is focused on supporting the existing fleet:

• MRO services for in-service aircraft.
• Sales of spare parts for repairs and maintenance.

Finance: draft the Q4 2025 revenue forecast based on current production rate assumptions by next Tuesday.