About Bombardier Aerospace Corporation
Bombardier is the world's leading manufacturer of both planes and trains. It makes and sells business aircraft including its iconic Learjet and Challenger, and its transportation division manufactures a variety of rail vehicles, including people movers such as metro trains, monorail systems, and high speed trains. The company also provides aftermarket parts as well as engineering services at its worldwide network of service centers. Most of Bombardier's business is generated in Europe and North America. In mid-2019 Bombardier agreed to sell its CRJ Series commercial regional jet program to Mitsubishi Heavy Industries for $550 million.
Bombardier divides itself into two main segments: Transportation and Aerospace. The Transportation segment (almost half of total revenues) makes and sells rail vehicles such as automated people movers, monorails, advanced rapid transit trains, and high-speed trains and locomotives (its INNOVIA Monorail is currently in use in Las Vegas, linking eight major resorts and the Las Vegas Convention Center). It also offers fleet maintenance and signaling solutions for mass transit. The Transportation segment does about 60% of its business in Europe.
Aerospace covers the Business Aircraft (30% of revenues), and Aerostructures and Engineering Services (almost 10%) segments and manufactures aviation products for business and commercial markets. These include business jets like the Learjet, Challenger, and Global aircraft families, and the C Series and Q Series commercial aircraft. The Aerostructures and Engineering Services division provides aircraft structures, component repair, aircraft parts, and aftermarket technical support.
Headquartered in Montreal, Canada, Bombardier does business in North America, Europe and Asia-Pacific. Europe accounts for about 45% of sales, with primary markets in Germany, the UK, France, and Switzerland. North America generates 35% (the US represents 25% of total revenues for the company), and in the Asia-Pacific region (about 15%), China, Australia and India are the largest markets. Russia is an emerging market in the company's Rest of World segment.
In 2018, Bombardier is at the mid-point of a five-year turnaround plan launched in 2015. The company realized $16.2 billion in sales in 2017, a 1% decrease from the previous year but a significant improvement over 10% declines in both 2016 and 2015.
It suffered significant net losses over the past five years due to major investments in product development for its new Global 7000 large business jet program (being launched during 2018) and building up inventory in its Transportation segment. With these investments, along with operational improvements, the company expects profits to begin to increase going forward.
After undergoing a business transformation which began in 2015 and making significant investments to position itself for growth, Bombardier is ramping up projects in its most profitable Transportation segment, which it believes is key to improving cash flow and operating profits by 2020. The company has built up its backlog and created sales, engineering and manufacturing centers of excellence across the segment. In 2019, the company announced plans to cut about 5,000 jobs, representing more than 7% of its workforce, and sell its turboprop unit and a training businesses.
In Aerospace, the Business Aircraft segment is counting on the launch of its Global 7000 business jet program in 2018 as its biggest growth driver. The Global 7000 will compete directly with General Dynamics' Gulfstream G650 in the ultra-long-range category. The company also formed a partnership with Airbus in 2017, selling a majority stake in its C Series commercial jet aircraft program to Airbus and leveraging Airbus' procurement, sales, and marketing resources for greater reach and scale. In 2019 Bombardier agreed to sell its CRJ Series commercial regional jet program to Mitsubishi Heavy Industries for $550 million, essentially marking the end of Bombardier's foray into the commercial aircraft market.
Bombardier's engineers and industrial designers spent two years designing the Vancouver 2010 Olympic torch. To ensure the flame would not extinguish in temperatures reaching minus 36 degrees Celsius (minus 96.8 degrees Fahrenheit), the company blended propane and isobutane, a mixture that supports fire at extremely cold temperatures. It manufactured 12,000 torches, each with a side vent to allow the flame to unfurl like a flag.
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