Summit News

Goodrich sees commercial aerospace growth in 2011

WASHINGTON (Reuters) - Goodrich Corp GR.N expects growth to return to the commercial aerospace industry in 2011 as demand for air travel returns to more normal levels, its chief financial officer said.

“We think 2010 is more of a transition year,” Scott Kuechle told the Reuters Aerospace and Defense Summit in Washington on Tuesday.

Goodrich, which supplies plane parts to Boeing BA.N and Airbus EAD.PA, expects usage of airplanes to start picking up next year and firm up even more in 2011, he said.

“In 2011, that’s when we expect to see not only utilization move back up to more normal levels but the overall supply-demand start to come back in balance. And that should be a very good year for the industry,” Kuechle said.

Weakness in air travel and general aviation has been a major drag this year on Goodrich, whose products include fuel systems and landing gear.

Kuechle said improving air travel will help bolster Goodrich’s maintenance and repair business next year, although growth will still be below normal.