AMETEK - Company Analysis and Outlook Report 2026 (Updated)
Executive Summary
AMETEK closed 2025 with record sales of $7.4 billion and adjusted diluted EPS of $7.43, capping a year in which Aerospace and Power Instrumentation revenue inside the Electronic Instruments Group represented 30% of EIG net sales, with EMG’s Aerospace business contributing another 30% of that group’s revenue.
The company supplies mission-critical hardware to every meaningful aviation platform category, including commercial transports, business and regional jets, military aircraft, helicopters, space systems, eVTOLs and unmanned aerial vehicles, through specialty units such as Sensors and Fluid Management Systems, Power and Data Systems, Rotron, MRO and Airtechnology Group.
Q4 2025 produced organic growth of 5%, record orders, a backlog of approximately $3.54 billion entering Q4, and operating margins of 28.9% at EIG and 22.7% at EMG, both at or near company highs.
For 2026, management has guided sales up mid to high single digits with adjusted EPS of $7.87 to $8.07, and continues to deploy a multi-billion-dollar M&A pipeline into adjacent precision aerospace and defense niches.
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Table of Contents
Executive Summary
Key Facts: AMETEK Company Profile
AMETEK Company Overview
A Diversified Industrial With a Deep Aviation DNA
Two Operating Groups, One Aerospace Story
Headquarters, People and Footprint
Recent Leadership Of The Aerospace and Defense Division
Key Aerospace and Defense Product Lines and Programs
Sensors and Fluid Management Systems (SFMS)
Power and Data Systems (PDS)
Rotron Cooling and Air Movement
Maintenance, Repair and Overhaul (MRO)
Airtechnology Group
Engine, Airframe and Mission Systems Content
Core Markets Covered
Financial Analysis: AMETEK
Top-Line and Earnings Power
Segment Profitability
Cash Flow, Balance Sheet and Capital Allocation
2026 Forward Guidance
Revenue and Growth Drivers
LTM Revenue Decomposition
Commercial Aerospace Recovery
Defense Demand Tailwinds
Space and Advanced Air Mobility
Inorganic Growth and the M&A Engine
Major Competitors
AMETEK vs. TransDigm Group
AMETEK vs. HEICO Corporation
AMETEK vs. Moog Inc.
AMETEK vs. Curtiss-Wright Corporation
AMETEK vs. Honeywell, Parker Hannifin, Eaton
Competitive Analysis and Moat
Specification-Locked Sole and Single Source Positions
Engineering And Test Infrastructure
Aftermarket And MRO Captive Channels
Diversification As A Strategic Asset
Capital Allocation Track Record
Strategic Outlook For 2026 And Beyond
Where Management Is Pointing
Electrification And Solid State Power
Sensors For Hypersonic And Counter-UAS
Risks To The Outlook
Financial And Commercial Implications
What This Means For OEM Customers
What This Means For Tier 1 Integrators
What This Means For The Aftermarket And Operators
What This Means For Defense Programs And Allies
Key Risks With Probabilities And Scenarios
Risk 1: Boeing And Airbus Delivery Volatility
Risk 2: Defense Budget Continuing Resolution
Risk 3: Tariff And Trade Policy
Risk 4: eVTOL Certification Slippage
Risk 5: M&A Integration
Risk 6: Supply Chain Disruption
Risk 7: Cyber And Geopolitical Disruption
Risk 8: Eurozone Or U.K. Industrial Recession
AMETEK SWOT Analysis
Other Strategic Considerations For Industry Stakeholders
How AMETEK Fits Inside The Aerospace And Defense Supply Chain
Why Aviation Stakeholders Should Track AMETEK Beyond The Headline Number
How AMETEK’s Strategy Impacts Engineering Talent
What to Watch In 2026
My Final Thoughts
Official Sources And Data
Key Facts: AMETEK Company Profile
Parent: AMETEK, Inc. (NYSE: AME)
Headquarters: Berwyn, Pennsylvania, USA
CEO and Chairman: David A. Zapico
Founded: 1930 (as American Machine and Metals)
FY2025 Revenue: $7.40 billion
FY2025 Adj. EPS: $7.43
FY2025 Free Cash Flow: Q4 alone $527.3 million
A&D Reporting: Embedded in two operating groups
- Electronic Instruments Group (EIG)
- Electromechanical Group (EMG)
A&D Share of EIG: ~30% (Aerospace & Power Instrumentation)
A&D Share of EMG: ~30% (Aerospace)
Lead A&D Brands: AMETEK Sensors & Fluid Management Systems,
AMETEK PDS, AMETEK Rotron, AMETEK MRO,
AMETEK Airtechnology Group, AMETEK Aerospace
Customer Mix: Top 5 customers = ~4% of EIG, ~15% of EMG
2026 Sales Guide: Mid to high single-digit growth
2026 Adj. EPS Guide: $7.87 to $8.07
The company’s Aerospace and Defense business is intentionally not reported as a stand-alone segment, which masks its scale.
However, when the dollar values from each operating group are aggregated, AMETEK is one of the larger pure-play suppliers of differentiated electronic and electromechanical content into global aviation, sitting alongside HEICO and Curtiss-Wright in capability breadth and rivaling Moog in mission-critical depth.
This structure also gives AMETEK a unique counter-cyclical balance. Aviation orders are blended with semiconductor, life sciences, automation, energy and process content, smoothing the platform cycles that hit pure-play competitors more directly.
AMETEK Company Overview
A Diversified Industrial With a Deep Aviation DNA
AMETEK was incorporated in 1930 and has spent the past four decades transitioning from a maker of motors and meters into a diversified manufacturer of differentiated electronic instruments and electromechanical devices sold into demanding industrial niches. Aviation has been a core thread throughout that transformation.
The company’s aerospace and defense capability set now spans engine and airframe sensors, power generation and distribution, motors and fans, heat exchangers, fluid management, rugged computing, RF measurement, motion control and the entire downstream maintenance, repair and overhaul value chain.
AMETEK trades on the New York Stock Exchange under ticker AME and is led by Chairman and CEO David A. Zapico, who has held the top job since May 2016 and was named to Rockwell Automation’s board effective April 16, 2026.
Two Operating Groups, One Aerospace Story
The company reports through two segments.
The Electronic Instruments Group (EIG) supplies advanced analytical, monitoring, testing, calibrating and display systems for aerospace, power, process and industrial markets.
The Electromechanical Group (EMG) provides electrical interconnects, precision motion control, specialty metals and thermal management.
Inside EIG, AMETEK groups its aviation activity within the Aerospace and Power Instrumentation cluster, which generated 30% of EIG’s 2025 net sales. Inside EMG, the Aerospace cluster contributed an identical 30% of that group’s revenue, making aviation easily the largest single end-market for the company once the two are combined.
The remaining 70% of each segment, Process and Analytical Instrumentation in EIG and Automation and Engineered Solutions in EMG, sells into life sciences, semiconductors, factory automation, power generation, oil and gas, defense electronics packaging and medical devices.
This portfolio breadth is the cornerstone of AMETEK’s resilience.
Headquarters, People and Footprint
AMETEK is headquartered in Berwyn, Pennsylvania, and operates more than 150 facilities across 30 countries. Its aerospace footprint includes plants in California, New York, Florida, Texas, Pennsylvania, the United Kingdom, Spain, Germany, the Czech Republic, India and Singapore.
The company describes itself as solving customers’ most demanding technical problems through differentiated technology, operational excellence and a four-pillar growth model that combines operational improvement, investment in R&D, global market expansion and disciplined acquisition.
Strategic Pillars Of AMETEK's Growth Model
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1. Operational Excellence: lean manufacturing, sourcing scale,
continuous productivity, value engineering on legacy programs.
2. Strategic Acquisitions: bolt-on and platform acquisitions in
precision technology niches, often at 12 to 14x EBITDA pre-synergies.
3. Investment In R&D: ~5% of sales reinvested into product
differentiation, including aerospace electrification, sensors and rugged compute.
4. Global Market Expansion: expanding share in Europe, India,
Singapore and the Middle East where defense and aerospace spending is rising.
Recent Leadership Of The Aerospace and Defense Division
The Aerospace and Defense Division is run by William P. Callahan as Vice President and General Manager, with each underlying business unit retaining its own management team.
This structure allows AMETEK to operate as a federation of specialist brands while sharing balance sheet, sourcing and corporate engineering resources.
Group-level leadership in 2025 and 2026 has focused on integrating recent acquisitions, lifting EMG margins through productivity actions, and digitalizing AMETEK’s MRO network so that customers can quote and route components into repair shops faster than legacy paper-based competitors can.
The result is a portfolio that increasingly looks like a mini conglomerate within a larger industrial conglomerate, with content on virtually every narrowbody and widebody aircraft, every modern western fighter, the most active business jet platforms and a fast-growing list of advanced air mobility and unmanned systems.
Key Aerospace and Defense Product Lines and Programs
Sensors and Fluid Management Systems (SFMS)
The SFMS business is the legacy heart of AMETEK’s aerospace franchise. For more than 60 years it has supplied air data sensors, total air temperature probes, angle of attack vanes, pitot static probes, stall warning systems, fuel quantity gauging, fluid level sensors, pressure and temperature transducers and complete fuel and fluid management systems.
SFMS products are flying on commercial transports, military fighters, business jets, regional aircraft, rotorcraft, unmanned vehicles and missiles.
The unit positions itself around the most accurate, rugged and reliable sensors for military and aerospace duty, an important value proposition as flight envelopes get pushed at the edges of supersonic, high altitude and cold soak.
Demand here is anchored by long product certifications, sole-source positions on many flying platforms and specification-controlled aftermarket spares.
Power and Data Systems (PDS)
AMETEK PDS is the company’s specialist in starter generators, electric actuators, motor controllers, solid-state and hybrid power distribution units, data acquisition systems and cockpit instruments.
It is a global trusted partner across aerospace, defense and space, with technology stretching from legacy 28V DC distribution all the way to modern solid-state power controllers replacing aging mechanical circuit breakers.
PDS published a 2025 capability brochure highlighting high precision metal products for critical airframe and engine applications across the commercial aircraft, defense and space sectors. The unit is a primary AMETEK beneficiary of aircraft electrification, solid-state power and reduced wiring weight design philosophies.
PDS also serves as one of AMETEK’s main entry points into space, with rad-hardened and rad-tolerant power and data products for satellites, launch vehicles and crewed spacecraft.
Rotron Cooling and Air Movement
AMETEK Rotron supplies AC and brushless DC fans, blowers and complete cooling systems engineered for the harshest aerospace and defense environments. The unit is on virtually every major military aircraft platform, performing avionics, communications, mission-system, electronics and crew comfort cooling tasks.
Its Pennsylvania plant produces vaneaxial, mixed-flow and centrifugal fans rated for shock, vibration, humidity, temperature extremes and EMI environments that consumer-grade thermal devices cannot survive.
Representative Rotron End-Use Applications
==========================================
- Cooling for fighter and bomber avionics bays
- Mission system and radar processor thermal control
- Helicopter cabin and electronics conditioning
- Ground combat vehicle electronics cooling
- UAV propulsion and payload cooling
- Naval communications cabinet cooling
- Directed energy weapon thermal managementMaintenance, Repair and Overhaul (MRO)
AMETEK MRO is one of the most under-appreciated parts of the company and one of the largest non-OEM third-party MRO networks in the world. It runs more than a dozen facilities globally and is an OEM-approved repair center for many Boeing, Airbus, Embraer and Fokker components.
Its repair scope covers engine accessories, hydraulic and pneumatic actuators, fuel system components, electrical motors and generators, environmental control system parts, instruments and avionics.
The business is a structural beneficiary of an aging but highly utilized global commercial fleet, where airlines are flying older aircraft for longer rather than ordering new units they cannot get for years.
This MRO network also acts as a captive aftermarket pipeline for AMETEK’s own OEM products, capturing high-margin spares and overhaul revenue rather than ceding it to independent third parties.
Airtechnology Group
The Airtechnology Group, based in the United Kingdom, designs and manufactures motor-blowers, environmental control system fans, valves and electromechanical packages for civil and military aircraft. Programs include narrowbody and widebody transport ECS, helicopter cabin systems and military aircraft thermal control.
The unit’s intimate relationships with European primes such as Airbus and Leonardo provide a complementary balance to AMETEK’s traditionally United States-centric defense exposure.
Engine, Airframe and Mission Systems Content
AMETEK’s aerospace and defense capability set explicitly includes engine and airframe temperature, pressure and fluid sensors, power distribution, power generation, motors, heat exchangers, high-speed fans, RF measurement solutions, motion control, fluid and gas transfer hoses, rugged open architecture computing and advanced liquid cooling and pumping.
That spread spans virtually every subsystem on a modern aircraft. Customers can specify a single AMETEK supplier to deliver multiple engineered subassemblies, an increasingly attractive proposition as primes and Tier 1 integrators pursue supplier rationalization.
The company’s customer-disclosure philosophy purposely keeps individual program names limited, but its SFMS materials and public communications confirm content on every major commercial transport family, the major business jets, the major military fighters, multiple helicopter platforms and key unmanned and space vehicles.
Core Markets Covered
AMETEK Aerospace & Defense Core Markets
=======================================
Commercial Aerospace : narrowbody, widebody, regional, freighter
Space : satellites, launch vehicles, crewed missions
Military Aircraft : fighters, bombers, transports, ISR
Business Jets : light, midsize, super-mid, large cabin
Rotorcraft : civil, parapublic, military
eVTOL & UAVs : tactical, MALE, HALE, urban air mobility
Service & Repairs : OEM-approved global MRO network
The eVTOL and UAV inclusion is meaningful. AMETEK is positioning sensors, electric actuators, batteries, power distribution, thermal management and rugged compute as a turnkey toolkit for advanced air mobility platforms, where electrification and reliability constraints favor AMETEK’s existing competencies.
Financial Analysis: AMETEK
Top-Line and Earnings Power
For full year 2025 AMETEK posted sales of $7.4 billion, a 7% increase over 2024, with GAAP diluted EPS of $6.40 and adjusted diluted EPS of $7.43, up 9% versus the prior year. Q4 alone delivered $2.0 billion in revenue, up 13% year-on-year, with organic growth of 5% and EPS of $2.01.
AMETEK 2025 Full-Year Headline Financials
=========================================
Sales : $7.40 billion (+7% YoY)
GAAP Diluted EPS : $6.40 (+7.9% YoY)
Adjusted Diluted EPS : $7.43 (+9% YoY)
Q4 GAAP Operating Income : $505.5 million (record)
Q4 Adj. Operating Income : $523.0 million (+12% YoY)
Q4 Operating Cash Flow : $584.3 million (record)
Q4 Free Cash Flow : $527.3 million (record)
Q4 FCF/Net Income Conversion: 132%
The company described 2025 as a year of annual records for sales, operating income, operating margins, earnings per share, operating cash flow and free cash flow.
Free cash flow conversion above 130% in the seasonally strong Q4 underscores how capital-light AMETEK’s mix is and how aggressively it can fund both buyouts and buybacks.
Segment Profitability
Q4 2025 EIG sales of $1.37 billion grew 13%, with adjusted operating income of $413.7 million at a 30%-class operating margin. EMG sales of $628.9 million were up 15% and operating income jumped 28% to $142.5 million, with operating margins of 22.7%, up 240 basis points year over year.
EMG’s 240 basis point margin expansion is particularly notable given the segment’s heavier exposure to industrial automation and connectors. It signals that the aerospace and defense mix shift inside EMG, where higher-content rugged engineered solutions sit, is steadily lifting the margin profile of that group.
EIG is the higher-margin business and aerospace and power instrumentation is one of its premium pieces. The combination of rising defense spending, recovering commercial OEM build rates and strong aftermarket repair demand creates a structural tailwind that supports continued margin expansion through 2026 and 2027.
Cash Flow, Balance Sheet and Capital Allocation
AMETEK’s cash generation gives it firepower far in excess of organic capex needs. Q4 free cash flow of $527.3 million implies a quarterly run rate that, even on a normalized basis, comfortably funds dividends, buybacks and additional bolt-on M&A.
The company entered 2026 with low net leverage and an investment grade credit profile. Management has historically modeled returns on M&A in the mid-teens after synergies, which provides a defensive backstop to any one-off platform delay risk inside aerospace.
A sustained 130%-plus FCF conversion quarter implies high quality of earnings and underpins the dividend, which AMETEK has paid continuously and grown over multiple decades.
2026 Forward Guidance
For full year 2026 management guided overall sales up mid to high single digits versus 2025, with adjusted EPS of $7.87 to $8.07, representing 6% to 9% growth. Q1 2026 was guided up about 10%, with adjusted EPS of $1.85 to $1.90, also up 6% to 9%.
2026 Guidance Snapshot
======================
Full Year 2026 Sales : Up mid to high single digits
Full Year 2026 Adj. EPS : $7.87 - $8.07 (+6% to +9%)
Q1 2026 Sales : ~+10% YoY
Q1 2026 Adj. EPS : $1.85 - $1.90 (+6% to +9%)
Within this guidance, aerospace and defense is consistently flagged as one of the strongest single end-markets and is expected to drive a disproportionate share of organic growth in 2026.
Revenue and Growth Drivers
LTM Revenue Decomposition
On a last-twelve-month basis ending December 31, 2025, AMETEK generated $7.40 billion of sales.
Aerospace and Power Instrumentation contributes approximately 30% of EIG’s revenue and Aerospace contributes approximately 30% of EMG’s revenue, making aerospace and defense a multi-billion-dollar embedded business inside the larger AMETEK platform.
The remainder is roughly split between process analytics, semiconductor, life sciences, automation, energy and metals related demand. That diversification is what allows aerospace to keep compounding without hitting the same air-pocket cyclicality that afflicts pure-play suppliers.
Commercial Aerospace Recovery
Commercial OEM build rates have been recovering through 2025 from supply chain shortfalls that constrained Boeing 737 MAX, 787 and Airbus A320 family deliveries.
As primes ramp toward target rates, AMETEK content per aircraft in sensors, fuel systems, motors, fans and avionics translates directly into top-line growth.
The aftermarket side, where margins are higher, is structurally strong. Older fleets are flying more flights as carriers struggle to replace them, pushing MRO demand and creating high-margin spares pull-through for AMETEK SFMS, PDS and Rotron components.
For 2026 management cited rising orders from commercial aerospace customers as one of the primary contributors to its expected mid to high single-digit organic growth.
Defense Demand Tailwinds
Global defense budgets are at structural highs. The United States defense budget remains elevated, the Pentagon has continued to fund production of fifth-generation fighters with the latest F-35 lot contract worth $12.5 billion for nearly 300 aircraft, and Europe is permanently elevating its defense outlays in the wake of the post-2022 security environment.
Pratt and Whitney also received a $6.6 billion engine contract covering F-35 engines for upcoming production lots. AMETEK’s exposure to engine sensors, fluid management, power distribution and thermal management means a meaningful share of that program activity flows back to its plants in Pennsylvania, California and the United Kingdom.
Demand Drivers For AMETEK Aerospace & Defense In 2026
=====================================================
+ Higher commercial OEM build rates at Boeing and Airbus
+ Long-cycle aftermarket pull from older flying fleets
+ U.S. and allied defense budget strength
+ F-35 production ramp and sustainment buildout
+ Replenishment of Western air-launched munitions stocks
+ Helicopter and rotorcraft modernization in NATO and Asia
+ Rapid scaling of UAV and counter-UAS programs
+ Early eVTOL and advanced air mobility certification spend
+ Space launch cadence at record levels
+ Electrification of aircraft secondary power systemsSpace and Advanced Air Mobility
Space is now an explicit AMETEK core market, encompassing both traditional government programs and the rapid commercial constellation buildout.
AMETEK PDS and Rotron in particular are well positioned to benefit from this pull, given existing rad-hard credentials and high-reliability product baselines.
In advanced air mobility the company has positioned its sensor, motor, actuator, battery management and rugged compute portfolio for eVTOL airframers seeking risk-managed, certified suppliers as they move toward type certification.
While these revenues are modest today, the trajectory could meaningfully reshape the EMG aerospace mix over the second half of the decade.
Inorganic Growth and the M&A Engine
AMETEK is one of the most disciplined acquirers in the industrial space. In 2025 it deployed $933.2 million in cash, net of cash acquired, on two transactions: Kern Microtechnik in January 2025 and FARO Technologies in July 2025.
While neither is purely aerospace, both bring measurement, optical inspection and 3D scanning capabilities that are highly relevant to aerospace and defense manufacturing.
In October 2024 the company acquired Virtek Vision International for $117.5 million in cash, deepening its laser projection and inspection capability used in aerospace composite layup and assembly. Earlier acquisitions such as United Electronic Industries strengthened AMETEK’s data acquisition and control footprint for aerospace and defense customers.
In February 2026 AMETEK announced the acquisition of LKC Technologies. Although that transaction is in life sciences, it is illustrative of the company’s continued tempo and willingness to deploy capital across cycles.
The cumulative effect over the past several years has been to double down on precision sensing, rugged electronics, optical inspection, MRO digitalization and additive-friendly metals, all of which feed directly into the most attractive growth subsegments inside aerospace and defense.
Major Competitors
The competitive landscape for AMETEK’s aerospace and defense business spans both differentiated component specialists and broader diversified industrials. Major peer companies include:
TransDigm Group, Inc. (NYSE: TDG)
HEICO Corporation (NYSE: HEI)
Moog Inc. (NYSE: MOG.A)
Curtiss-Wright Corporation (NYSE: CW)
Honeywell International Inc. (NASDAQ: HON)
Parker Hannifin Corporation (NYSE: PH)
Eaton Corporation plc (NYSE: ETN)
Crane NXT and Crane Company (CR)
ESCO Technologies Inc. (NYSE: ESE)
Amphenol Corporation (NYSE: APH)
AMETEK vs. TransDigm Group
TransDigm reported fiscal 2025 net sales of $8.83 billion, up 11% versus fiscal 2024. The company is structured around proprietary, sole-source, often single-source aerospace components, with high aftermarket exposure and exceptional EBITDA margins.
AMETEK’s aerospace and defense exposure is broader than TransDigm’s but is part of a larger and more diversified portfolio.
TransDigm’s pure-play model gives it higher headline aerospace margins, while AMETEK’s blended mix delivers a lower beta to commercial cycle volatility and richer cross-segment cash deployment optionality.
Where they overlap is in proprietary sensors, fluid management content and power-related components.
TransDigm tends to use a leveraged buyout-style capital structure and is more aggressive on aftermarket pricing, while AMETEK pursues more conservative leverage and emphasizes operational improvements alongside acquisitions.
AMETEK vs. HEICO Corporation
HEICO continues to deliver exceptional aerospace results. Q4 fiscal 2025 produced record net sales up 19% and record net income up 35%, while Q1 fiscal 2026 EPS of $1.35 beat expectations on 14% revenue growth.
HEICO is split between Flight Support Group, focused on PMA parts and aftermarket accessories, and Electronic Technologies Group, which serves defense, space and other niches.
Compared to HEICO, AMETEK has a wider OEM-shipset content footprint with deeper sensor and electromechanical capabilities, while HEICO is the unrivaled leader in FAA Parts Manufacturer Approval aftermarket components for legacy and current commercial fleets.
In simple terms, HEICO disrupts OEMs at the line replaceable unit and below level, whereas AMETEK frequently is the OEM at that level, making the two more complementary than direct competitors in many cases.
AMETEK vs. Moog Inc.
Moog reported fiscal 2025 with aerospace and defense businesses representing 75% of sales, of which the defense market alone represented 52% of total revenue. Moog’s Q4 fiscal 2025 sales exceeded $1 billion, driven by record sales in Space and Defense, Military Aircraft and Commercial Aircraft.
Moog is the deeper specialist in precision motion control, particularly hydraulic, electromechanical and electrohydrostatic actuation for primary and secondary flight controls.
AMETEK’s actuation portfolio inside PDS overlaps Moog primarily in secondary flight controls, utility actuators and power distribution, but Moog dominates primary flight control actuation on most major Western aircraft.
The competitive frontier between the two is in advanced air mobility, where electrification of secondary systems is creating new design wins for both. Moog is more exposed to platform-cycle volatility, while AMETEK can reallocate capital across non-aerospace segments when aerospace cools.
AMETEK vs. Curtiss-Wright Corporation
Curtiss-Wright closed full year 2025 with sales of $3.5 billion, up 12% year over year, operating margin of 18.1% and diluted EPS of $12.87. The company is heavily exposed to defense, naval nuclear propulsion, aerospace embedded computing and industrial flow control.
Curtiss-Wright’s defense exposure is more concentrated than AMETEK’s and includes the Virginia and Columbia class submarine programs, where it has unique sole-source positions.
AMETEK’s aerospace footprint is broader across commercial, business jet and rotorcraft, but Curtiss-Wright has more specialized depth in rugged embedded computing and naval nuclear systems.
The two are closest competitors in rugged data acquisition, mission computing and certain sensor categories. AMETEK’s ownership of UEI gave it a specific entry point into territory historically associated with Curtiss-Wright’s Defense Solutions business.
AMETEK vs. Honeywell, Parker Hannifin, Eaton
The diversified industrials are an order of magnitude larger than AMETEK in total revenue but compete directly in select aerospace product lines.
Honeywell Aerospace is a major prime contractor on avionics, APUs, navigation and connected aircraft software. Parker Hannifin’s Aerospace Systems segment is dominant in fluid power, fuel systems, hydraulics and engine systems. Eaton’s aerospace business spans hydraulics, fuel and motion control, with a growing electrification focus.
AMETEK competes in narrower niches against each of these, but its smaller size and federation-of-brands structure allows for faster product cycles and more differentiated customer engagement on lower-volume engineered solutions where the giants are sometimes too slow.
Peer Comparison Snapshot (FY 2025, as reported)
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AMETEK : $7.40B revenue, ~30% A&D in EIG, 30% A&D in EMG
TransDigm : $8.83B revenue, near 100% aerospace
HEICO : Record 19% Q4 sales growth, deep aftermarket
Moog : 75% A&D mix, 52% pure defense
Curtiss-Wright : $3.5B revenue, 18.1% operating margin
Parker Hannifin : Major aerospace systems Tier 1, much larger
Honeywell Aero : Avionics & engines prime, much larger