Ducommun Incorporated (DCO): Canvas de modelo de negócios [Jan-2025 Atualizado]

No mundo intrincado da fabricação aeroespacial e de defesa, a Ducommun Incorporated (DCO) surge como uma potência crítica de engenharia, transformando desafios tecnológicos complexos em soluções de engenharia de precisão para algumas das indústrias mais exigentes. Ao navegar estrategicamente parcerias com gigantes aeroespaciais como a Boeing e a Lockheed Martin, a DCO criou um modelo de negócios sofisticado que combina perfeitamente recursos avançados de fabricação, experiência em engenharia de ponta e produção de componentes críticos da missão. Essa exploração do modelo de negócios da Ducommun Canvas revela os intrincados mecanismos que permitem que esse fabricante especializado forneça soluções tecnológicas de alto desempenho nos domínios aeroespaciais militares e militares.

Ducommun Incorporated (DCO) - Modelo de negócios: Parcerias -chave

Empreiteiros aeroespaciais e de defesa

A Ducommun Incorporated mantém parcerias estratégicas com os principais empreiteiros aeroespaciais e de defesa:

Principal contratante	Detalhes da parceria	Intervalo de valor do contrato
Boeing	Componentes de fabricação de precisão	US $ 15-25 milhões anualmente
Lockheed Martin	Sistemas avançados de engenharia	US $ 20 a 30 milhões anualmente
Northrop Grumman	Subconjuntos aeroespaciais especializados	US $ 10-18 milhões anualmente

Fabricantes de aeronaves militares e comerciais

As principais parcerias incluem:

• Airbus - Componentes estruturais fabricação
• Gulfstream aeroespacial - soluções de engenharia de precisão
• Aeronaves Sikorsky - Produção de componentes Rotorcraft

Fornecedores de fabricação e engenharia de precisão

Fornecedor	Foco de colaboração	Volume anual de compras
Precision CastParts Corp	Fabricação avançada de metal	US $ 8-12 milhões
Soluções avançadas de usinagem	Fabricação de componentes complexos	US $ 5-7 milhões

Parceiros de pesquisa e pesquisa de componentes

Parcerias de pesquisa colaborativa incluem:

• NASA - Pesquisa avançada de materiais
• MIT Centro de Pesquisa de Manufatura Avançada
• Georgia Tech - inovações aeroespaciais de engenharia

Investimento total de parceria: aproximadamente US $ 65-85 milhões anualmente

Ducommun Incorporated (DCO) - Modelo de negócios: Atividades -chave

Fabricação de componentes aeroespaciais e de defesa

Receita anual da fabricação aeroespacial e de defesa: US $ 646,4 milhões em 2022

Categoria de fabricação	Volume anual de produção	Clientes -chave
Componentes de aeronaves militares	3.750 unidades	Boeing, Lockheed Martin
Peças aeroespaciais comerciais	5.200 unidades	Airbus, Spirit Aerosystems

Produção complexa de peças e montagens usinadas

Total de instalações de fabricação: 11 locais nos Estados Unidos

• Capacidades de usinagem CNC de precisão
• Tecnologias avançadas de metalworking
• Processos de fabricação certificados ISO 9001: 2015

Projeto de engenharia e fabricação de precisão

Investimento de P&D: US $ 24,3 milhões em 2022

Capacidade de design	Horário anual de engenharia
Engenharia Mecânica	87.500 horas
Engenharia de Materiais Avançados	42.300 horas

Gerenciamento da cadeia de suprimentos para sistemas aeroespaciais críticos

Total de parceiros da cadeia de suprimentos: 214 fornecedores certificados

• Status de fornecedor aeroespacial de nível 1
• Recursos de fornecimento global
• Gerenciamento de logística integrada

Pesquisa e Desenvolvimento Tecnológico Avançado

Patentes tecnológicas: 37 patentes ativas a partir de 2022

Área de foco de pesquisa	Orçamento de pesquisa anual
Materiais compostos	US $ 8,6 milhões
Eletrônica aeroespacial	US $ 6,2 milhões

Ducommun Incorporated (DCO) - Modelo de negócios: Recursos -chave

Instalações de fabricação especializadas

A Ducommun opera várias instalações de fabricação nos Estados Unidos, totalizando aproximadamente 332.000 pés quadrados de espaço de fabricação a partir de 2023. A empresa mantém instalações na Califórnia, Kansas e Arizona, especializadas em fabricação aeroespacial e de defesa.

Localização	Tamanho da instalação (Sq ft)	Foco primário de fabricação
Long Beach, CA.	132,000	Estruturas aeroespaciais
Olathe, KS	85,000	Componentes eletrônicos
Gardena, CA.	65,000	Usinagem de precisão

Especialização avançada de usinagem e engenharia

Ducommun possui Certificações ISO 9001: 2015 e AS9100D, demonstrando recursos avançados de fabricação.

• Centros de usinagem CNC: 87 máquinas de precisão avançada
• Capacidades de impressão 3D: 12 sistemas avançados de fabricação aditiva
• Ferramentas aeroespaciais especializadas: mais de 500 ferramentas de fabricação personalizadas

Engenharia qualificada e força de trabalho técnica

A partir de 2023, a Ducommun emprega 1.425 funcionários totais, com aproximadamente 62% em funções técnicas e de engenharia.

Categoria de funcionários	Número de funcionários	Percentagem
Engenheiros	435	30.5%
Especialistas técnicos	450	31.6%
Trabalhadores manufatureiros	385	27.0%
Equipe administrativo	155	10.9%

Contratos governamentais e comerciais de longo prazo

A Ducommun mantém a carteira de contratos avaliada em aproximadamente US $ 670 milhões em 2023, com 65% dos setores de defesa e aeroespacial.

• Principais contratos de defesa: Boeing, Lockheed Martin, Northrop Grumman
• Contratos aeroespaciais comerciais: Airbus, Spirit Aerosystems
• Duração média do contrato: 3-5 anos

Tecnologias de fabricação proprietárias

A Ducommun possui 23 patentes ativas relacionadas a processos de fabricação e tecnologias aeroespaciais.

Categoria de patentes	Número de patentes
Processos de fabricação	15
Tecnologias estruturais aeroespaciais	8

Ducommun Incorporated (DCO) - Modelo de Negócios: Proposições de Valor

Componentes aeroespaciais e de defesa de alta precisão

A Ducommun Incorporated fornece componentes de engenharia de precisão com as seguintes especificações:

Categoria de componente	Volume anual de produção	Tolerância à precisão
Peças estruturais aeroespaciais	45.000 unidades	± 0,0005 polegadas
Assembléias eletrônicas de defesa	32.500 unidades	± 0,00025 polegadas

Soluções de fabricação confiáveis ​​e missionárias críticas

Métricas de confiabilidade de fabricação para ducommun:

• Taxa de garantia de qualidade: 99,7%
• Desempenho de entrega no tempo: 97,3%
• Taxa de defeito de fabricação: 0,03%

Experiência em engenharia em sistemas mecânicos complexos

Recuperação de recursos de engenharia:

Especialização de engenharia	Número de engenheiros especializados	Experiência média
Projeto mecânico	87 engenheiros	15,6 anos
Sistemas aeroespaciais	63 engenheiros	17,2 anos

Soluções tecnológicas personalizadas para a indústria aeroespacial

Portfólio de soluções personalizadas:

• Fabricação composta avançada
• Serviços de usinagem de precisão
• Integração do sistema eletrônico

Recursos de fabricação de ponta a ponta abrangentes

Recursos de processo de fabricação:

Processo de fabricação	Capacidade anual	Nível de certificação
Usinagem CNC	250.000 peças	AS9100D
Assembléia eletrônica	175.000 unidades	IPC-A-610
Fabricação composta	85.000 componentes	NADCAP credenciado

Ducommun Incorporated (DCO) - Modelo de Negócios: Relacionamentos do Cliente

Parcerias baseadas em contratos de longo prazo

A partir de 2024, a Ducommun Incorporated mantém contratos estratégicos de longo prazo com parceiros da indústria aeroespacial e de defesa, incluindo:

Tipo de cliente	Duração do contrato	Valor anual estimado
Boeing	5-7 anos	US $ 45,2 milhões
Lockheed Martin	4-6 anos	US $ 38,7 milhões
Northrop Grumman	3-5 anos	US $ 32,5 milhões

Suporte técnico e colaboração de engenharia

Ducommun fornece suporte técnico especializado por meio de:

• Equipes de engenharia dedicadas
• Mecanismos de solução de problemas em tempo real
• Serviços avançados de consulta técnica

Gerenciamento de conta dedicado

Métricas de gerenciamento de relacionamento com o cliente para 2024:

Métrica	Valor
Número de gerentes de conta dedicados	27
Taxa média de retenção de clientes	92.3%
Tempo médio de gestão da conta	2,4 horas

Qualidade contínua e melhoria de desempenho

As iniciativas de melhoria da qualidade incluem:

• Revisões trimestrais de desempenho
• Manutenção de certificação ISO 9001: 2015
• Integração de feedback contínuo

Modelo de atendimento ao cliente responsivo

Indicadores de desempenho do atendimento ao cliente:

Métrica de serviço	Desempenho
Tempo médio de resolução de emissão	1,7 dias
Pontuação de satisfação do cliente	8.6/10
Interações anuais de suporte ao cliente	3,742

Ducommun Incorporated (DCO) - Modelo de Negócios: Canais

Equipes de vendas diretas

A Ducommun Incorporated mantém uma força de vendas direta dedicada de 37 representantes profissionais de vendas a partir de 2023. Esses representantes se concentram nos segmentos da indústria aeroespacial e de defesa com uma cobertura média de território de vendas de US $ 12,5 milhões por representante.

Métrica da equipe de vendas	Valor
Total de representantes de vendas	37
Cobertura média do território	US $ 12,5 milhões
Orçamento anual da equipe de vendas	US $ 4,2 milhões

Feiras e conferências do setor

Ducommun participa de 14 grandes feiras de comércio da indústria anualmente, com um investimento estimado em marketing de US $ 1,8 milhão. Os principais eventos incluem:

• Paris Air Show
• Show International Manufacturing Technology
• Fórum AIAA Scitech
• Simpósio de espaço

Documentação técnica online

A plataforma de documentação técnica digital de Ducommun hospeda 672 especificações técnicas e documentos de design. A plataforma recebe aproximadamente 3.245 visitantes mensais exclusivos com uma taxa média de download de documentos de 47%.

Redes estratégicas de desenvolvimento de negócios

A Ducommun mantém parcerias estratégicas com 23 empreiteiros aeroespaciais e de defesa. Essas redes geram aproximadamente US $ 215 milhões em receita colaborativa anualmente.

Métrica de rede	Valor
Total de parceiros estratégicos	23
Receita colaborativa anual	US $ 215 milhões
Duração média da parceria	7,3 anos

Plataformas de comunicação digital

Ducommun utiliza vários canais de comunicação digital com as seguintes métricas de engajamento:

• Seguidores do LinkedIn: 8.762
• Site tráfego mensal: 42.500 visitantes únicos
• Base de assinante de marketing por e -mail: 5.340
• Orçamento de comunicação digital: US $ 1,2 milhão anualmente

Ducommun Incorporated (DCO) - Modelo de negócios: segmentos de clientes

Empreiteiros aeroespaciais

Ducommun serve os principais contratados aeroespaciais com segmentos específicos de clientes:

Principal contratante	Valor anual do contrato	Categorias de produtos primários
Boeing	US $ 187,3 milhões	Componentes estruturais, assemblies
Lockheed Martin	US $ 142,6 milhões	Peças usinadas de precisão
Northrop Grumman	US $ 98,4 milhões	Sistemas eletrônicos

Agências de compras militares

Os segmentos de clientes militares de Ducommun incluem:

• Departamento de Defesa dos EUA
• Comando de Material da Força Aérea dos EUA
• Comando de sistemas marinhos da Marinha dos EUA

Agência militar	Valor anual de compras	Foco principal do produto
Departamento de Defesa dos EUA	US $ 213,7 milhões	Eletrônica de defesa, componentes aeroespaciais

Fabricantes de aeronaves comerciais

Os segmentos de clientes de aeronaves comerciais incluem:

Fabricante	Valor do contrato	Contribuição do segmento
Airbus	US $ 76,5 milhões	18,3% da receita total
Embraer	US $ 42,9 milhões	10,2% da receita total

Empresas de tecnologia de defesa

Segmentos significativos de clientes de tecnologia de defesa:

• Raytheon Technologies
• Dinâmica geral
• BAE Systems

Empresa de Tecnologia de Defesa	Aquisição anual	Áreas de tecnologia primária
Raytheon Technologies	US $ 112,6 milhões	Sistemas eletrônicos avançados

Empresas de engenharia especializadas

Segmentos de clientes da empresa de engenharia com características específicas de compras:

Empresa de engenharia	Valor do contrato	Serviços especializados
Saic	US $ 53,2 milhões	Soluções de fabricação de precisão
Leidos	US $ 47,8 milhões	Componentes tecnológicos avançados

Ducommun Incorporated (DCO) - Modelo de negócios: estrutura de custos

Equipamento e manutenção de fabricação

Despesas de capital para equipamentos de fabricação em 2023: US $ 12,3 milhões

Categoria de equipamento	Custo de manutenção anual
Máquinas de fabricação de precisão	US $ 3,7 milhões
Ferramentas de produção aeroespacial	US $ 2,5 milhões
Centros de usinagem CNC	US $ 1,9 milhão

Investimentos de pesquisa e desenvolvimento

Despesas totais de P&D para 2023: US $ 24,6 milhões

• Desenvolvimento de tecnologia aeroespacial: US $ 14,2 milhões
• Processos avançados de fabricação: US $ 6,8 milhões
• Inovação de sistemas de defesa: US $ 3,6 milhões

Despesas de força de trabalho e trabalho técnico

Compensação total da força de trabalho para 2023: US $ 187,4 milhões

Categoria de funcionários	Compensação média anual
Equipe de engenharia	$125,600
Técnicos de fabricação	$78,300
Pessoal administrativo	$82,500

Cadeia de suprimentos e compras de material

Custos totais de aquisição de materiais em 2023: US $ 142,9 milhões

• Metais de grau aeroespacial: US $ 47,6 milhões
• Componentes eletrônicos: US $ 38,2 milhões
• Matérias -primas especializadas: US $ 57,1 milhões

Custos de conformidade e certificação

Despesas totais de conformidade para 2023: US $ 8,7 milhões

Tipo de certificação	Custo anual
Gerenciamento da qualidade aeroespacial AS9100	US $ 2,3 milhões
Certificação de qualidade ISO 9001	US $ 1,9 milhão
Conformidade da indústria de defesa	US $ 4,5 milhões

Ducommun Incorporated (DCO) - Modelo de negócios: fluxos de receita

Contratos de defesa do governo

No ano fiscal de 2022, a Ducommun Incorporated registrou US $ 343,1 milhões em receitas relacionadas à defesa, representando 62% da receita total da empresa.

Tipo de contrato	Receita anual	Porcentagem de receita de defesa
Contratos da Marinha dos EUA	US $ 127,6 milhões	37.2%
Contratos da Força Aérea dos EUA	US $ 98,3 milhões	28.6%
Programas de defesa do exército	US $ 72,5 milhões	21.1%

Vendas comerciais de componentes aeroespaciais

O segmento aeroespacial comercial gerou US $ 189,2 milhões em receita durante 2022, representando 34% da receita total da empresa.

• Boeing 737 componentes do programa máximo: US $ 62,4 milhões
• Componentes da série Airbus A320: US $ 54,7 milhões
• Sistemas de helicópteros comerciais: US $ 42,1 milhões

Serviços de engenharia e design

Os serviços de engenharia especializados contribuíram com US $ 28,5 milhões para a receita da Ducommun em 2022.

Categoria de serviço	Receita
Serviços de design aeroespacial	US $ 17,3 milhões
Consultoria de Engenharia de Defesa	US $ 11,2 milhões

Acordos de fabricação de longo prazo

Os contratos de fabricação de longo prazo geraram US $ 45,6 milhões em receita recorrente para 2022.

• Acordos de fabricação de defesa de vários anos: US $ 29,4 milhões
• Contratos de fabricação de componentes aeroespaciais: US $ 16,2 milhões

Licenciamento e consultoria de tecnologia

O licenciamento de tecnologia gerou US $ 8,7 milhões em receita suplementar durante 2022.

Categoria de licenciamento	Receita
Licenciamento de tecnologia aeroespacial	US $ 5,3 milhões
Consultoria de Tecnologia de Defesa	US $ 3,4 milhões

Ducommun Incorporated (DCO) - Canvas Business Model: Value Propositions

You're looking at the core promises Ducommun Incorporated makes to its customers, the things that keep the defense and aerospace sectors relying on them. Honestly, the numbers from 2025 really show where the value is landing right now.

High-reliability components for mission-critical applications

The value proposition here is rooted in performance where failure isn't an option. This is clearly reflected in the revenue stream strength from the defense sector. For instance, in the third quarter of 2025, Ducommun Incorporated saw $14.2 million higher revenue specifically from its military and space end-use markets, driven by platforms like missiles and fixed-wing aircraft. This momentum carried over from the first quarter of 2025, which saw $14.6 million in higher revenue from that same segment. The company is clearly delivering on high-stakes requirements.

This commitment translates directly into a strong forward-looking pipeline. As of the February 27, 2025 filing, Ducommun Incorporated anticipated recognizing an estimated 70% or $709.0 million of its total Remaining Performance Obligations (RPO) during the 2025 fiscal year. That's a massive vote of confidence in their long-term delivery capability.

Expertise in complex electronic and structural solutions

Ducommun Incorporated structures its value around two core areas, and the Q3 2025 revenue split shows the relative scale of that expertise. You can see the output of their complex work in the segment results:

Segment	Q3 2025 Net Revenue (Millions USD)	Year-over-Year Revenue Change
Electronic Systems	$123.1 million	Up (Implied by total growth and Structural change)
Structural Systems	$89.5 million	Higher due to $6.0 million from military/space

The Electronic Systems segment, which handles electronic and electromechanical products, delivered $123.1 million in revenue for the third quarter of 2025. The Structural Systems segment, focused on complex metal components, brought in $89.5 million for the same period. These figures demonstrate the tangible scale of their specialized manufacturing capabilities.

Value-added manufacturing and engineering services

The value-add is quantified by efficiency and margin improvement, showing they are successfully executing more sophisticated work profitably. Ducommun Incorporated's focus on margin expansion is a direct indicator of successful value-added execution. In Q3 2025, the Gross Margin hit 26.6%, marking a 40 basis point improvement year-over-year. This follows a record Gross Margin of 26.6% in Q1 2025, which was an improvement of 200 basis points over Q1 2024. Furthermore, the Adjusted EBITDA margin reached 16.2% of revenue in Q3 2025, putting them on pace for their VISION 2027 goal of 18%.

Long-term supply assurance for defense programs

Assurance is built on a strong order book, which Ducommun Incorporated demonstrated in late 2025. The company reported a very strong Book to Bill ratio of 1.6 times in the third quarter of 2025, which established a new record for their Remaining Performance Obligations (RPO). This high ratio signals that new orders are significantly outpacing current deliveries, providing high assurance of future work, especially in the defense sector which led the 6% year-over-year net revenue growth to $212.6 million in Q3 2025.

Contractual raw material cost pass-throughs on military products

Ducommun Incorporated explicitly values de-risking the supply chain for its defense customers through contractual mechanisms. They are actively mitigating raw material tariff exposures by putting plans in place for either duty exemptions on military products or by passing costs through to customers under the terms of their contracts. This contractual protection is vital given that over 95% of Ducommun Incorporated's revenue is generated domestically in the United States, meaning the domestic cost base is largely protected from direct international supply shocks, though raw material volatility remains a factor they manage contractually.

Here's a quick look at the domestic focus:

• Domestic facilities generate more than 95% of Ducommun Incorporated\'s revenue.
• Mitigation plans target raw material tariff exposures via contract terms for military products.

Finance: draft 13-week cash view by Friday.

Ducommun Incorporated (DCO) - Canvas Business Model: Customer Relationships

You're looking at how Ducommun Incorporated manages its relationships across its diverse customer base, which is heavily weighted toward the defense sector right now. Honestly, the nature of these relationships dictates the revenue stability and long-term planning.

Dedicated program management for long-cycle contracts

For the long-cycle defense work, which is clearly the engine right now, the relationship is deep and requires dedicated management. This is necessary because the work involves complex, mission-critical components for programs like missile defense systems. The strength of this commitment is reflected in the order book; for instance, Ducommun's Remaining Performance Obligations (RPO) established a new record following the third quarter of 2025, signaling strong future commitment from these partners. While there are conflicting reports on the total backlog figure, one report for Q3 2025 indicated a backlog of $1.14 billion, up 8.8% year-on-year, which speaks to the long-term nature of these engagements. The defense segment, particularly missiles, saw growth of 21% in Q3 2025, which is the direct result of this focused relationship management on long-term defense spending cycles.

Close, collaborative relationships with defense primes

Ducommun Incorporated focuses on being a Tier 1 supplier, which means the relationships with prime contractors are inherently close and collaborative, moving beyond simple vendor status. You see this in the recognition they receive; Ducommun was named BAE Systems Supplier of the Year for 2025, and a Gold Supplier for the third consecutive year, which shows a high degree of operational alignment and trust. The company is positioned on over a dozen missile platforms and is expected to supply Boeing at a rate roughly equal to its production rate by mid-2026, showing direct integration into the prime's production planning. These relationships are the bedrock of the business, especially as the Electronic Systems segment revenue reached $123.1 million in Q3 2025, largely driven by military and space programs.

The key defense and aerospace customers Ducommun focuses on include:

• RTX Corporation
• Lockheed Martin
• Northrop Grumman
• BAE Systems

Customer-specific engineering and design support

To maintain these high-value relationships, Ducommun is actively moving up the value chain, which requires significant customer-specific engineering and design support. This strategy is evidenced by the increasing revenue mix from engineered products, which accounted for 23% of sales as of Q1 2025, up from 19% some years ago. This shift means the company is not just building to print; it is co-developing or providing specialized, higher-margin solutions. The Structural Systems segment, which produces complex metal components, saw its operating margin expand to 13.3% in Q3 2025, partly due to higher revenue in military rotorcraft and ground vehicles, areas where bespoke engineering is critical.

Here's a quick look at the segment revenue contribution in Q3 2025:

Segment	Q3 2025 Net Revenue (Millions USD)	Key Relationship Driver
Electronic Systems	$123.1	Missile and radar platform support
Structural Systems	$89.5	Complex component supply for aircraft/ground vehicles

Transactional sales for certain industrial last-time buys

Not all customer interactions are deep partnerships; the industrial end-use market often involves more transactional relationships, especially when dealing with obsolescence management. In Q3 2025, revenue for the industrial end-use markets increased by $5.1 million compared to the prior year, which management specifically attributed to restocking and last time buys. This suggests that for certain industrial customers, Ducommun Incorporated acts as a necessary, but perhaps less strategically embedded, supplier for end-of-life product support, making those sales more transactional in nature.

The relationship profile is clearly bifurcated; you have the high-touch, long-term defense/aerospace primes, and the more transactional industrial segment, which still provided a needed boost of $5.1 million in Q3 2025 revenue from specific activities. Finance: draft 13-week cash view by Friday.

Ducommun Incorporated (DCO) - Canvas Business Model: Channels

You're looking at how Ducommun Incorporated gets its products and services into the hands of its customers, which is heavily weighted toward the aerospace and defense sectors. The company organizes its channels around direct engagement with major platform builders and primes, supported by a growing focus on aftermarket content.

Direct sales force to major aerospace and defense OEMs

The direct sales channel is strongly represented by the Military and Space segment, which accounted for 55% of Last Twelve Months (LTM) Q1 2025 net revenues. This channel involves direct engagement with defense primes for mission-critical programs. Key customers served through this direct channel include Lockheed Martin, Northrop Grumman, and RTX Corporation. Revenue growth in this area has been robust, with the defense business seeing double-digit growth in the last 3 quarters leading up to Q3 2025. The company's backlog, or Remaining Performance Obligations (RPO), stood at a record high of $1.03 billion as of Q3 2025, reflecting strong future commitments from these direct customers.

Direct supply chain integration with Tier 1 contractors

Integration within the commercial aerospace supply chain is substantial, with the Commercial segment making up 41% of LTM Q1 2025 net revenues. This channel focuses on integrating components into major commercial platforms. Ducommun Incorporated supplies components for platforms such as the Boeing 737 and 787, and the Airbus A320 and A220. The company explicitly names Boeing and Spirit Aerosystems as key customers in this space. The company is actively working to burn down inventory in the system, encouraged by the FAA's decision to allow Boeing to increase 737 MAX production rates to 42 aircraft per month.

Aftermarket support and services

Ducommun Incorporated is strategically increasing its presence in aftermarket support, which is considered a sizable and necessary portion of any good aerospace business. The company's focus on higher-value content is evident in the growth of its Engineered Products revenue, which reached 23% of revenues as of LTM Q3 2025, up from 9% in 2017. While the specific aftermarket revenue percentage for 2025 isn't explicitly stated, the company has a stated Vision 2027 target of achieving more than 25% from Engineered Products and a target of 15% from aftermarket mix by 2027, up from approximately 10% in 2022.

The following table summarizes key financial and customer data relevant to Ducommun Incorporated's channel strategy as of late 2025:

Metric	Value/Percentage	Reporting Period/Context
Net Revenue (Q3 2025)	$212.6 million	Quarter ended September 27, 2025
Net Revenue (LTM Q1 2025)	$790 million	Last Twelve Months ended March 29, 2025
Military & Space Revenue Mix	55%	LTM Q1 2025
Commercial Revenue Mix	41%	LTM Q1 2025
Engineered Products Revenue Mix	23%	LTM Q3 2025
Aftermarket Revenue Mix (Target)	15%	Vision 2027 Target
Book to Bill Ratio	1.6 times	Q3 2025
Total Backlog (RPO)	$1.03 billion	As of Q3 2025

Ducommun Incorporated utilizes several key mechanisms to deliver value through these channels:

• Direct Defense Engagement: Focus on growing the Missile franchise and radar systems.
• Commercial Platform Content: Securing and growing content on high-rate narrow-body aircraft like the 737 MAX.
• Strategic Offloading: Building out the defense business by supporting off-loading from strategic defense primes.
• Product Portfolio Diversification: Increasing the mix of higher-value Engineered Products to over 20% of revenue.
• Geographic Concentration: Approximately 95% of revenues are generated from U.S. facilities.

Ducommun Incorporated (DCO) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Ducommun Incorporated (DCO) as of late 2025, which is heavily weighted toward defense and space, a strategic choice that has paid off well this year. Honestly, the numbers clearly show where the growth is coming from.

Military and Space end-use markets represent the primary driver of Ducommun Incorporated's current financial momentum. This segment has been exceptionally strong, evidenced by the 13% year-over-year growth in Q3 2025, which helped push total net revenue to a record $212.6 million for that quarter. The company's U.S.-centric manufacturing base, generating more than 95% of revenue domestically, provides a solid foundation for these defense contracts. This focus is central to their VISION 2027 plan.

The customer base within this segment is diverse, spanning critical defense platforms:

• Missile systems, where the franchise saw strong growth in Q3 2025.
• Fixed-wing aircraft platforms.
• Military rotary-wing aircraft platforms.
• Ground vehicle weapon platforms.
• Radar systems.

Commercial Aerospace OEMs, including major players like Boeing and Airbus, are a significant, though currently softer, part of the customer mix. While Ducommun Incorporated is shipping components, this market has faced headwinds. For the third quarter of 2025, revenue from commercial aerospace was down by $8.1 million year-over-year. This softness was attributed to lower rates across large commercial aircraft platforms and business jet platforms.

The Industrial end-use customers segment is smaller and is being actively managed through selective pruning of non-core business, as noted when industrial revenue decreased in Q1 2025 compared to Q1 2024. However, this segment saw a temporary lift in Q3 2025, increasing by $5.1 million due to certain customers making last time buys and restocking activities.

Here's a look at the revenue performance by Ducommun Incorporated's reporting segments in Q3 2025, which directly reflects the demand from these customer groups:

Metric	Q3 2025 Value (in millions USD)	Q3 2024 Value (in millions USD)	Year-over-Year Change
Total Net Revenue	$212.6	$201.4	Up 6%
Electronic Systems Segment Revenue	$123.1	$115.4	Up 6.6%
Structural Systems Segment Revenue	$89.5	$86.0	Up 4.0%

The growth in the Electronic Systems segment was driven by $14.2 million higher revenue in military and space markets in Q3 2025, while the Structural Systems segment saw $6.0 million higher revenue from military and space platforms in the same period. The commercial aerospace weakness impacted both segments, with Structural Systems noting $2.5 million lower revenue from business jet platforms.

The platforms Ducommun Incorporated supports are clearly tied to the end-use markets:

• Missile systems, electronic warfare equipment, and radar platforms are key for the Electronic Systems segment's defense revenue.
• Fixed-wing and rotary-wing aircraft components are critical across both segments, with military rotorcraft showing strength.
• Large commercial aircraft and business jets fall under the Commercial Aerospace OEM category, which is currently a headwind.

The company's remaining performance obligations (RPO), which is a good proxy for future committed customer revenue, hit a record high of $1.03 billion as of late 2025, showing strong forward visibility from these customer segments.

Finance: draft 13-week cash view by Friday.

Ducommun Incorporated (DCO) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Ducommun Incorporated's operations as of late 2025. The cost structure is heavily influenced by production scale, one-time legal events, and ongoing efficiency initiatives.

Cost of Goods Sold (COGS) remains the foundational expense, directly tied to the company's manufacturing output across its Structural Systems and Electronic Systems segments. For the third quarter of 2025, Ducommun Incorporated reported a Gross Profit of $56.5 million on Net Revenue of $212.6 million, resulting in a Gross Margin of 26.6%.

A significant, non-recurring item heavily impacted the GAAP results for Q3 2025. The company recorded a one-time litigation settlement and related costs totaling $99.7 million. This charge was the primary driver behind the GAAP Operating Loss of $80.1 million for the quarter, though adjusted operating income was $22.4 million.

Manufacturing and labor costs are embedded within the COGS structure, reflecting the complexity of producing components for aerospace, defense, and industrial markets across multiple facilities. The company is actively managing these through consolidation efforts.

The ongoing restructuring costs are related to facility consolidation, specifically the wind-down of the Monrovia, CA, and Berryville, AR, locations. For Q3 2025, Ducommun Incorporated recorded $0.6 million in restructuring charges. Management estimates an additional ~$0.5 million in costs for the rest of 2025, mainly for product requalification and final consolidation activities. The goal of these actions is substantial, targeting $11 million to $13 million in annualized run-rate savings.

Financing costs are also a component of the overall cost profile. Interest expense for the third quarter of 2025 was $2.9 million, an improvement from $3.8 million in Q3 2024, largely due to lower interest rates and a reduced debt balance.

Here's a quick look at some of the key cost and margin metrics from Q3 2025:

Cost/Metric Category	Q3 2025 Amount/Rate	Context/Comparison
Gross Margin	26.6%	Up 40 basis points year-over-year.
Litigation Settlement & Related Costs (Non-Recurring)	$99.7 million	Resulted in GAAP Operating Loss of $80.1 million.
Restructuring Charges (Recorded in Q3 2025)	$0.6 million	Additional ~$0.5 million expected in remainder of 2025.
Targeted Annual Restructuring Savings	$11 million to $13 million	Expected run-rate savings from facility consolidation.
Interest Expense	$2.9 million	Down from $3.8 million in Q3 2024.

The company's Selling, General, and Administrative (SG&A) expenses were significantly inflated by the legal costs. SG&A was $113.1 million, or 53.2% of total Company revenue in Q3 2025, compared to just $11.9 million, or 5.9% of revenue, in the prior year quarter, with the difference being the litigation charge net.

You should keep an eye on the realization of the expected savings, as that will directly impact the ongoing operating cost structure moving into 2026.

Finance: draft 13-week cash view by Friday.

Ducommun Incorporated (DCO) - Canvas Business Model: Revenue Streams

Ducommun Incorporated's revenue streams are clearly segmented across its two primary operating divisions, with a strong current emphasis on defense-related programs as of late 2025.

The segment-level performance for the third quarter ended September 27, 2025, provides the core financial structure for Ducommun Incorporated's revenue generation:

Segment	Q3 2025 Net Revenue (Millions USD)	Year-over-Year Change
Electronic Systems segment sales	$123.1 million	6.6% increase
Structural Systems segment sales	$89.5 million	4.0% increase
Total Net Revenue	$212.6 million	6% increase

The Electronic Systems segment revenue of $123.1 million was driven by robust activity in military and space end-use markets, which saw a year-over-year increase of 13%, encompassing several key product lines.

Revenue drivers within the Electronic Systems segment include:

• Higher rates on selected missile and fixed-wing aircraft platforms.
• Strong growth in radar systems.
• The industrial business increased by $5 million during Q3 2025.

The Structural Systems segment, reporting $89.5 million in net revenue, saw its growth primarily supported by defense spending, which offset continued softness in commercial aerospace OEM demand.

Key contributors to Structural Systems revenue growth included:

• Higher revenue within military and space end-use markets, specifically from selected rotary-wing aircraft and ground vehicle weapon platforms.
• The company reiterated continued strength in its defense business, particularly in missiles and radar systems, maintaining momentum for 2025.

Regarding aftermarket and repair services, specific standalone revenue figures were not explicitly itemized as a separate line item in the provided segment data; however, the overall strength in military and space platforms suggests a significant portion of the $14.2 million higher revenue in that combined end-use market for the quarter is tied to sustainment and production rates for existing platforms.