Overview Key strengths Key risks One of the two global producers of large commercial aircraft (100 seats or more), alongside Boeing, with steady narrowbody demand and full order books. Production rates highly skewed to the A320 models, resulting in platform concentration risk until widebody rates ramp up. Material portfolio diversification offering a wide range of products, including civil and military aircraft, satellites, electronics, defense systems, and civil and military helicopters. Dependence on timely delivery of high quality and complex components by suppliers to ensure production rates increase in line with orders. Higher market share (than main competitor Boeing) in narrowbody civil aircraft, which is enjoying much stronger demand than the widebody segment. Large working capital swings dependent on timing of
