Meggitt is a UK based engineering company which produces high performance components and systems for the aerospace, defense and energy industry. The company also produces sensing and control technologies for various industries. Meggitt’s product strategy is to make high performance products that operate in harsh environments. Meggitt’s acquisition of Pacific Scientific Aerospace (PSA) will help bring integrated product solutions for customers as well as give Meggitt access to PSA’s lower cost factories which will complement Meggitt’s own expansion of low cost production facilities. Meggitt’s sales are split between aftermarket and original equipment making the company more defensive during economic downturns. 28% of the company’s sales come from US defense contracts, making the company vulnerable to spending cuts and expiring contracts in the long term. Civil aerospace is 42% of total earnings, and Meggitt is positioned in the next few years to take advantage of an increase in civilian aircraft production and aircraft activity due to the recovery of the sector.