Assault Aircraft to Forklifts: U.S. Heavy Manufacturers Look to 2Q

Researched by Industrial Info Resources (Sugar Land, Texas)--Demand for transportation components, military equipment and construction machinery is driving the development of more than $8.7 billion worth of heavy-manufacturing projects across the U.S. that are slated to begin construction in the second quarter, according to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project and Plant databases. More than $3.5 billion is related to transportation-related products, both military and commercial, with the remainder attributed to everything from lawnmowers to forklifts.

Click on the image at right for a graph detailing the top 10 parent companies for U.S.-based heavy-manufacturing projects that are set to begin construction from April through June, by total investment value.

Demand from the U.S. military is driving one of the highest-valued projects. Bell Textron, a subsidiary of Textron Incorporated (NYSE:TXT) (Providence, Rhode Island), is preparing to begin facility modifications and equipment installations for a $632 million renovation of a facility in Fort Worth, Texas, to support production of the U.S. Army's Future Long-Range Assault Aircraft (FLRAA). The U.S. Army awarded its contract for the project to Bell in December 2022, and the company expects to "achieve facility readiness for low-rate initial production" by 2028.

The Army intends FLRAA to be the next generation of vertical lift, assault and intra-theater aeromedical evacuation aircraft. Scott Donnelly, the chief executive officer of Textron, said in the company's most recent quarterly earnings-related conference call that it expects the FLRAA program will be a major driver of Textron's business in the near term: "At Bell, in 2024, we saw significant growth with the continued expansion of the FLRAA program, largely driving a 13.7% increase in revenues for the year." Subscribers to Industrial Info's GMI database can learn more from a detailed project report and plant profile.

On the commercial side of the aircraft industry, demand for aircraft maintenance, repair and overhaul (MRO) is expected to grow in the coming years, according to Alton Aviation Consultancy (New York, New York) and other industry specialists, and Embraer S.A. (NYSE:ERJ) (Sao Jose does Campos, Brazil) is responding with a $31.35 million aircraft MRO plant in Fort Worth, which will be the first of a two-phase development. It will service Perot Field Fort Worth Alliance Airport, which is the second-largest airport in North Texas.

The new facility will cater to Embraer's growing fleet of E-Jets, which are twin-engine, narrowbody jet models used for regional and short- to medium-haul flights. The two-phase investment will total as much as $70 million and increase the company's capacity to serve its E-Jets customers by 53%, according to Embraer. Subscribers can learn more from a detailed project report and plant profile.

The market for construction equipment also is driving activity in the sector. The Raymond Corporation, a subsidiary of Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan), is readying for a $28 million renovation of its forklift-manufacturing plant in Kirkwood, New York, to meet growing demand. Similarly, Austin Engineering Limited (Perth, Australia) is preparing for a $27.4 million expansion of its water-tank and water-truck manufacturing plant in Mills, Wyoming, which caters to customers in both the U.S. and Canada. Subscribers can read detailed reports on the Kirkwood and Mills projects.

Another major automotive company, Honda Motor Company Limited (NYSE:HMC) (Tokyo, Japan), is investing in its U.S.-based machinery development with $21.5 million of equipment additions at its manufacturing plant in Swepsonville, North Carolina. Honda aims to convert the facility, which until now produced outdoor power equipment, to its exclusive manufacturing facility for all-terrain vehicles (ATVs) in North America. The company also said it will be the first Honda production facility in North American to make "future electrified Honda powersports and power equipment products." Subscribers can learn more from a detailed project report and plant profile.

Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.

Subscribers can click here for a full list of detailed reports for heavy-manufacturing projects across the U.S. that are slated to begin construction in the second quarter.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).