TAT Technologies Ltd
tat-technologies.comWhat Do They Do?
Provides aircraft-component repair and overhaul services for airlines, air-cargo carriers, maintenance centers and military customers, and makes heat-transfer systems and aviation accessories for aircraft manufacturers and defense contractors.
20-F for FY2025, filed Mar 18, 2026TAT is a leading provider of solutions and services to the commercial and military aerospace and ground defense industries focused mainly…View ↗
TAT’s activities in the area of MRO and OEM of heat transfer solutions include the MRO of heat transfer components and the manufacturing of…View ↗
TAT’s activities in the area of MRO services for aviation components include the MRO of APUs, landing gear and other aircraft components.…View ↗
TAT is an OEM of heat transfer solutions and aviation accessories to the commercial and military aerospace and ground defense industries…View ↗
How Do They Make Money?
Aircraft and defense customers buy OEM products, which are invoiced based on approved purchase orders and count as sales when shipped. MRO customers pay for repair work after completion and inspection; payment follows invoicing.
20-F for FY2025, filed Mar 18, 2026TAT, primarily through TAT Israel, sells its OEM solutions and systems to commercial and military aircraft manufacturers and defense…View ↗
TAT services MRO customers primarily through Limco, Piedmont and Turbochrome, including major U.S. domestic and international airlines, air…View ↗
Revenues from the sale of OEM products are recognized at a point in time when the customer obtains control of the product, typically upon…View ↗
Revenues from the sale of MRO services is recognized at a point in time, which involve receiving customers' purchase orders, completing the…View ↗
$178M
-
20-F for FY2025, filed Mar 18, 2026
$178M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Products
Sold outright
20-F for FY2025, filed Mar 18, 2026 |
29%
FY2022: 30%
|
Products, FY2025
$50.9M Sources
|
Sold outright |
|
Services
Sold outright
20-F for FY2025, filed Mar 18, 2026 |
71%
FY2022: 70%
|
Services, FY2025
$127.2M Sources
|
Sold outright |
Who Are Their Customers?
OEM products go to aircraft and system makers and defense contractors through purchase orders; the U.S. government is a direct military customer, while Piedmont sells parts through industry partners and aerospace parts distributors.
20-F for FY2025, filed Mar 18, 2026TAT, primarily through TAT Israel, sells its OEM solutions and systems to commercial and military aircraft manufacturers and defense…View ↗
The development projects and purchasing processes of many of TAT’s OEM customers are lengthy and complex and accordingly, with some…View ↗
Direct sales to the U.S. government, our largest government customer, accounted for approximately 7.7% of TAT’s revenues for the year ended…View ↗
Piedmont’s extensive experience in the repair and overhaul of APUs and landing systems includes a comprehensive involvement in the industry…View ↗
20-F for FY2025, filed Mar 18, 2026
The Company has a single customer in MRO services for Aviation Components and lease which has annual sales in 2025 constitute 14.48% from…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2025 and turned 2 cents into free cash flow.
20-F for FY2025, filed Mar 18, 2026
$18.8MView ↗
20-F for FY2025, filed Mar 18, 2026
$16.8MView ↗
20-F for FY2025, filed Mar 18, 2026
$4MView ↗
How Are They Changing?
Growing. Revenue grew 2.3x in 4 years, from $78M in FY2021 to $178M in FY2025, about 23% a year.
Who Do They Compete With?
Competes with Ametek, Lytron, Niagara Thermal, Collins Aerospace, Honeywell International, AAR, I.M.I. Marston, Safran, Liebherr, Sumitomo Precision Products, Drake Air, American Cooler Service, Lufthansa Technik, Parker Hannifin, Standard Aero Group, Aerotech International, Chase Aerospace, Professional Aviation, Hawker Pacific, and APRO
20-F for FY2025, filed Mar 18, 2026The major competitors of TAT in the area of OEM of heat transfer solutions and aviation accessories include manufacturers in the United…View ↗
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