September 13, 2012
Recaro Aircraft Seating expects to improve revenues by close to 70% within five years, Managing Director Andreas Lindemann told Aviation Week at the ILA Berlin air show.
Annual sales are forecast to grow to €500 million ($645 million) by 2017, up from about €300 million in 2011, Lindemann says.
Much of this growth comes from demand for Recaro’s economy-class seats that already has provided the manufacturer with a major increase in global market share to about 30%, says Recaro.
Europe has been a large source of these sales, with Air France-KLM, British Airways and Lufthansa all placing orders. But Recaro recently has made inroads in the U.S. with orders from both American Airlines and United Airlines.
Because of the growth in demand, Recaro is doubling capacity at its plant in Fort Worth and is opening expanded facilities at its Swiebudzy plant in Poland. The company also has decided to build a plant in Qingdao, China, to supply a burgeoning retrofit market.