Moog (MOG) investor relations material

Company overview and growth drivers

• Operates as a technology leader in motion control, serving defense, commercial aerospace, industrial, and medical device markets.

• Business mix: 50% defense, 20% commercial aerospace, 20% industrial, and just under 10% medical devices.

• Defense growth driven by increased US and NATO budgets, geopolitical tensions, and replenishment needs.

• Commercial aerospace is recovering post-pandemic, with wide-body production ramping up.

• Industrial and medical segments remain stable, with medical outpacing market growth.

Commercial aerospace and aftermarket

• Wide-body aircraft (Boeing 787, Airbus A350) are key platforms, with production aligned to OEM ramp plans through 2027.

• Aftermarket business is robust, nearing 40% of commercial segment sales, supported by high aircraft utilization and long-term support agreements.

• Aftermarket growth is tied to air traffic, not engine MRO, and is expected to remain strong but decline as a percentage of sales due to OE ramp.

• Long-term agreements and proprietary IP ensure sticky aftermarket revenue.

Defense portfolio and international exposure

• Defense demand is broad-based, with strong orders for missile programs (e.g., $100M+ PAC-3 order) and exposure to modernization and strategic programs.

• Content spans missile defense, nuclear triad, space (satellite avionics, propulsion), and ground vehicles.

• Active on multiple hypersonic missile and next-generation aircraft programs, with long-term production opportunities.

• 90% of defense revenue is US-based, but European presence is strong with 10 sites and 3,000+ employees.