Textron to Open New Facility in Australia & Provide Aircraft Service

Textron Inc. TXT recently announced that its unit Textron Aviation would expand its presence in Australia by building a larger and more modern service facility at Essendon Fields Airport in Melbourne to better support Cessna, Beechcraft and Hawker customers in the region.Textron Aviation anticipates its facility to be fully operational by early 2026, with construction scheduled to start in March 2025.At more than 35,000 square feet, the new facility will more than double the size of the company's existing one. The new facility will be in a more central location within the airport, allowing for speedier shipment for customers and a more comfortable lounge for customers to use while their aircraft is serviced. To keep customers flying, the new facility will provide additional space for aircraft maintenance, enabling quicker scheduling with less downtime.  The company's dedication to offering its clients the best possible combination of factory-direct maintenance and service solutions is demonstrated by the fact that this new facility will support more than 1,400 aircraft operating in the APAC region.TXT’s Growth Potential in Business Aviation Steadily growing global air travel, gradually improving economic conditions and an increasing number of high-net-worth personnel are anticipated to propel the long-term growth of the business jet sector.The Morder Intelligence firm expects the Asia-Pacific Business Jet market to witness a CAGR of 6.7% during the 2025-2030 period.Such growth prospects should benefit Textron, with its Textron Aviation segment being one of the prominent business jet makers like Cessna and Beechcraft. It is dedicated to developing and offering the greatest aviation experience for its consumers. With more than 20 servicing facilities across the globe, the company's diverse portfolio of aircraft solutions accounts for more than half of all general aviation flights.Opportunities for Other Defense Companies Defense companies that are likely to reap the benefits of the growing business jet market are as follows:Airbus SE EADSY: The company has a strong presence in Australia for more than 40 years, offering modern commercial aircraft, such as the A350, A321XLR and A220. It has a significant industrial presence, including maintenance, repair and overhaul facilities. Its Australian operations are located in Brisbane, Canberra and Sydney.Airbus has a long-term (three to five years) earnings growth rate of 9.4%. The Zacks Consensus Estimate for EADSY’s 2025 sales calls for an improvement of 9.7% from the prior-year estimated figure.The Boeing Company BA: Boeing Aerostructures Australia, located in Melbourne's Fishermans Bend, has a long history in Australian aviation. It is the nation's sole designer and manufacturer of innovative composite aerostructure components for commercial airplanes.Boeing boasts a long-term earnings growth rate of 17.4%. The Zacks Consensus Estimate for BA’s 2025 sales implies an improvement of 25.4% from the prior-year reported figure.General Dynamics Corp. GD: The company’s Jet Aviation component services and advanced manufacturing facilities are based in Coopers Plains, Brisbane, Australia. The facility focuses on component repair and overhauls, as well as the manufacture of complicated precision components and assemblies for regional airlines,  and commercial, civil and defense customers.General Dynamics boasts a long-term earnings growth rate of 9.8%. The Zacks Consensus Estimate for GD’s 2025 sales suggests an improvement of 5.6% from the prior-year reported figure.TXT Stock Price Movement In the past six months, shares of Textron have fallen 18.4% compared with the industry’s decline of 9.9%.Image Source: Zacks Investment ResearchTXT’s Zacks Rank Textron currently carries a Zacks Rank #5 (Strong Sell).You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks