As air traffic returns to pre-pandemic levels, Austrian steelmaker Voestalpine is seeing a significant increase in orders from the aerospace industry with total contracts through 2030 valued at Eur300 million ($298.62 million).
Voestalpine’s High Performance Metals division secured a contract extension, and several new and extensive orders for the supply of heavy-duty structural parts from US aircraft manufacturer Boeing.
Also, Germany’s engine manufacturer MTU Aero Engines has commissioned Voestalpine to supply over the coming years highly critical forged parts for installation in a variety of aircraft models, including Airbus A320neo.
The aviation market continues its recovery after it almost came to a standstill at the start of the COVID-19 pandemic.
In the April 1, 2021-March 31, 2022, business year, Voestalpine’s revenue in the aerospace segment was around Eur255 million, up from the prior year’s level of Eur180 million.
The High Performance Metals division produces die forgings from titanium alloys, high-alloy steels and nickel-based alloys at the Kapfenberg site, high-tech titanium sheets in Mürzzuschlag, and special profiles for engines in Bruckbach in Lower Austria.
Over the past five years, the company has invested Eur140 million in the aerospace-orientated capabilities at its Austrian sites alone with most of this spent on enhancing product quality, process automation, and digitalization, it said.
— Ekaterina Bouckley