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Wed, Feb 23, 2011

Piper Grows Market Share, Billings In 2010

International Markets Provide Large Share Of Increases

Piper Aircraft Inc. significantly increased its new aircraft market share, billings and deliveries during 2010, highlighted by the company's performance in the pilot training sector. And for the first time in recent Piper history, international exports accounted for more than half of the company's volume by deliveries and dollars.

For the year 2010, Piper delivered 160 new aircraft, up more than 75 percent from 90 aircraft in 2009. The new deliveries contributed more than $120 million in billings, up nearly 38 percent from $86 million in the previous year. Within the combined turboprop and piston markets where it currently competes, overall Piper market share for new aircraft deliveries grew from 10.5 percent in new aircraft unit volume in 2009 to 20.1 percent market share during 2010. Leading Piper's resurgence in 2010 were worldwide deliveries of 47 training aircraft to pilot training institutions in Australia, Malaysia, South Korea, Qatar and the United States.

"Piper Aircraft is very pleased with 2010 progress and performance in terms of market penetration, deliveries and dollar volume. The increases reflected our aggressive efforts towards globalizing the profile of the company," said Piper Chief Executive Officer Geoffrey Berger. "In a very challenging year for our overall industry, Piper demonstrated measurable improvement in all meaningful categories."
 
During the fourth quarter of 2010, Piper delivered 53 aircraft accounting for $42.6 million, up from 21 aircraft valued at $18.8 million the previous year. Included in the total deliveries for 2010 were 25 turboprops and 135 single and twin-engine aircraft.

FMI: www.piper.com

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