Meggitt and Parker: A match made in aerospace
Meggitt is now part of Parker Aerospace, bringing together industry-leading experience and innovation and a more powerful product and service offering for the aerospace and defense industries. Collectively we bring to market a wider range of breakthrough airframe and engine technologies that solve greater customer challenges. We will continue to play a leading role in enabling the next generation of sustainable aviation and accelerate our work supporting aftermarket customers. 
Expanded capabilities strengthen a legacy of engineering breakthroughs
Parker Aerospace and Meggitt customers will benefit from an expanded product line with new capabilities to grow a more-electric portfolio as we work towards net zero carbon emissions. We are excited to bring this expanded business that promises even more engineering breakthroughs that will lead to a better tomorrow. 
Innovation is about more than technology for both organizations; it’s about how we think. From pushing the frontiers of technology to challenging the way we continuously improve our processes. Together we are poised to bring new thinking and further innovative approaches in evolving aerospace markets, programs and clean technology.
Our integration teams have been working to ensure a seamless transition, our work for customers and with suppliers remains business as usual. This transaction allows us to support our customers better in a variety of meaningful ways, including: 
  • New capabilities to support a more-electric portfolio  
  • Innovative approaches for advanced air mobility (AAM) and clean technology
  • Advanced aircraft sensors, safety systems, electric power and thermal management 
"We are excited to have reached the closing of what is a very compelling strategic and cultural combination. Meggitt’s complementary product portfolio and geographic footprint, as well as its proprietary and differentiated technologies, will significantly enhance Parker’s capabilities, positioning us to provide a broader suite of solutions for aircraft and aeroengine components and systems. This acquisition continues the transformation of Parker’s portfolio with greater exposure to longer cycle, more resilient businesses that are well positioned for secular growth trends."
Tom Williams
Chairman and Chief Executive Officer of Parker Hannifin
Parker leaders explain the value of this combination
Strategically and culturally aligned acquisition
In considering prospective acquisitions, Parker looks for organizations that are well aligned culturally, as well as strategically, with the goals of The Win Strategy™. This is Parker’s global business system, representing a unified strategic vision for its team members worldwide. Anchored by Parker’s culture, values and purpose, The Win Strategy™ defines the key operational priorities and metrics used to drive team member engagement, customer experience, profitable growth, and financial performance.
Parker and Meggitt have a close cultural fit; shared values and innovation are in our DNA. We are passionate about what we do and why we do it. We have:
  • Similar cultures
  • Parallel mission statement and values 
  • Track records for successful innovation
  • Complementary products with minimal overlap
  • Focus on growing more-electric portfolios to reach zero carbon emissions goals
Technology across all aerospace markets
Parker’s core offerings now include braking systems, advanced engine sensors, safety systems, engine valve and actuation, electric power and thermal management. Meggitt’s customers gain insight and pedigree of flight controls and hydraulics, fluid systems including fuel tank inerting, fluid conveyance, lubrication, and more. 
READ THE PRESS RELEASE
Parker Hannifin announced it has completed its acquisition of Meggitt PLC for approximately £6.3 billion. Meggitt, headquartered in Coventry, the UK, had annual revenue of approximately £1.63 billion and employs more than 9,000 team members serving customers around the world. Meggitt has diverse aerospace and defense exposure with technology and products on almost every major aircraft platform. 
Read more   |   Fact Sheet
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Parker Hannifin a leading worldwide diversified manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. Parker was founded in Cleveland, Ohio, USA in 1917. Parker currently has over 50,000 team members globally, and manufacturing, service, sales, distribution and administrative facilities in 49 countries. Parker supplies its products to approximately 464,000 customers in virtually every significant manufacturing, transportation and processing industry.

Parker Aerospace is a global leader in the research, design, integration, manufacture, certification and lifetime service for aerospace systems. The company support the world's aircraft and aeroengine manufacturers, providing a century of experience and innovation for commercial and military aircraft. As an operating group of Parker Hannifin Corporation, Parker Aerospace has the engineering muscle and stable foundation to truly move our customers' programs forward while increasing their productivity and profitability. 

Parker Meggitt is an international leader in the aerospace, defence and energy markets, employing more than 9,000 people at over 40 manufacturing facilities and regional offices worldwide. Working closely with its customers, Meggitt delivers technologically differentiated systems and products for the most demanding environments with high certification requirements for applications across its core end markets. Through focusing on engineering and operational excellence, Meggitt builds broad installed bases of equipment and provides services and support across a fleet of approximately 73,000 aircraft. Headquartered in the United Kingdom, defence business accounts for 46 percent of Meggitt Group revenue with over 70 percent of revenue derived from its core US market.
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