Howmet Aerospace Inc. (HWM)

Howmet Aerospace Inc. is a Delaware corporation headquartered in Pittsburgh, Pennsylvania, and a leading global provider of advanced engineered solutions for the aerospace and transportation industries. Its primary businesses make jet engine components, aerospace fastening systems and airframe structural components for aerospace and defense applications, as well as forged aluminum wheels for commercial transportation. The company was formerly Arconic Inc. and, before that, Alcoa Inc. On April 1, 2020, it separated from Arconic Corporation, retaining the Engine Products, Fastening Systems, Engineered Structures and Forged Wheels businesses. On December 22, 2025, it agreed to acquire Consolidated Aerospace Manufacturing, LLC from Stanley Black & Decker for about $1.8 billion in cash, expected to close in the first half of 2026. On February 6, 2026, it acquired Brunner Manufacturing Co. Inc., a U.S. fastener maker.

Howmet has four reportable segments organized by product. Engine Products makes airfoils, seamless rolled rings and other rotating and structural components, mainly for aircraft engines and industrial gas turbines. Fastening Systems produces aerospace and industrial fastening systems, commercial transportation fasteners and installation tools, and is expected to absorb Brunner and CAM. Engineered Structures produces titanium ingots and mill products, titanium and other forgings and extrusions, and machined components and assemblies for airframe, wing, aero-engine and landing gear applications. Forged Wheels makes lightweight forged aluminum wheels for trucks, buses and trailers under the Alcoa® Wheels brand, using its MagnaForce® alloy and Dura-Bright® surface treatment. Products are sold directly or through distributors.

By end market in 2025, aerospace was about 70% of revenue (commercial 53%, defense 17%), commercial transportation 15%, gas turbines 11% and other 4%. Gas turbines include industrial gas turbines and oil and gas, with demand tied to electricity generation and data center build-out. RTX Corporation and GE Aerospace each accounted for about 11% of third-party sales. Howmet operates in 19 countries, and North America and Europe generated 72% and 22% of 2025 sales by point of shipment. It had about 25,430 employees, and about 26% of its U.S. workforce is unionized.

Howmet operates principal facilities across the United States, Canada, Mexico, France, Germany, Hungary, the United Kingdom, Japan, China, Morocco and Australia. Raw materials, including nickel, titanium, aluminum, cobalt and steel alloys, are bought from third-party suppliers under competitively priced contracts or bidding arrangements. The company holds about 1,020 granted patents and 1,590 registered trademarks, including Howmet® and Huck®. It faces intense competition: Precision Castparts (Berkshire Hathaway), VSMPO, ATI, Lisi Aerospace and Aubert & Duval in aerospace products, and Accuride, Speedline and Nippon Steel among others in wheels. Some large customers also have captive casting capacity.