Independent producer of certified aircraft parts
HEICO Aerospace, in which Lufthansa Technik acquired a 20 percent stake in 1997, is the world's biggest development organization, producer and provider of engine and other aircraft components to have been certified by the American Federal Aviation Authority (FAA) and the European Aviation Safety Agency (EASA). Its majority shareholder is the HEICO Corporation, which is listed on the New York Stock Exchange (NYSE) and is headquartered in Hollywood, Florida. In addition, HEICO maintains twelve further sites in the USA, including the states of Arizona, Connecticut, Georgia, California, New Mexico, Ohio, Tennessee and Washington, with a combined floor space of 44,100 square meters.
Founded in 1957, the company undertakes the development and production of high-technology parts and also repairs entire aircraft components. Every year the approximately 2,500 staff develop over 400 different parts through to the point where they are ready for production. Thus, HEICO Aerospace dispatches over 4 million parts a year – that is, almost half of all the internationally certified, non-OEM (Original Equipment Manufacturer) parts – to the biggest airlines.
Its core business is the development and production of engine parts such as combustor outlets, turbine blades and other high-value, high-tech parts for engines and motors made by almost all the big manufacturers. Parts development always starts with comprehensive material analyses and extensive test procedures. Following development and production approval by the FAA, the production of parts is accompanied by continuous checks aimed at ensuring the highest quality standards. The parts thus produced are priced at between 20 and 60 percent below the identical OEM parts.
Unlike the original manufacturers of engine and aircraft parts, which require a type certificate from the American FAA for the production of spare parts, independent manufacturers such as HEICO Aerospace, Honeywell, Hamilton Sundstrand and General Electric receive a Parts Manufacturer Approval (PMA) after extensive quality checks. This approval provides the legal authorization for the worldwide use of these parts. Cooperation partners that regularly purchase and use HEICO products include Lufthansa and nearly all big American airlines. The quality and availability of these attractively priced parts is constantly improving even further and additional parts continue to be developed and produced.