Question · Q4 2025
Alexandra Nanderi asked about the PMA portfolio's exposure to new engine entrants like LEAP, GTF, and GE9X, and the opportunity for first-time shop visits. She also requested additional color on general trends in the Electronic Technologies Group (ETG), particularly regarding space and defense tech, next-gen systems, and booking trends.
Answer
Victor Mendelson explained that new engines under warranty are not a significant PMA opportunity, but opportunities arise as platforms age and customers seek alternatives, noting HEICO's consistent technology for engineering parts. For ETG, he reiterated optimism for various markets, emphasizing avoiding 'profitless opportunities' in space and capitalizing on both established and newcomer segments in defense tech, aligning with the government's focus on cost and speed.
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