US Aerospace & Defense "1Q26 growth tracker recap" Parsons

Research evidence excerpt

US Aerospace & Defense "1Q26 growth tracker recap" Parsons

Global Research

18 May 2026ab

US Aerospace & Defense Equities

Americas1Q26 growth tracker recap

Aerospace

Gavin Parsons

Tracking quarterly growth rates across A&D Analyst

We track organic growth rates of 44 companies and 80 segments to get a better picture gavin.parsons@ubs.com

of the underlying trends, with approximately >90% of companies that we track having +1-212-713 2389

already reported C1Q earnings. We compare those growth rates by sub-segment to Ian Douglas-Pennant

their macro drivers. We also highlight charts we found most interesting on page 2. Analyst

Reach out for our tracker. ian.douglas-pennant@ubs.com

+44-20-7568 0936

Commercial OE Joao Santos

By the numbers: up 13% yoy vs. 12% last quarter (vs. 1Q UBSe of up 14%). Associate Analyst

joao.santos@ubs.com

Highlights: OE ramp continues to track well in 1Q, though with some moving +1-212-713 1437

pieces; BA aircraft and CFM engine deliveries grew strongly, Airbus aircraft + Pratt Max Miller

engine deliveries less so, but the supply chain continues to show strong growth. Associate Analyst

Outperformers: WWD, HWM and GE. Underperformers: AIR, RTX Pratt & max.miller@ubs.com

Whitney. +1-212-713 2613

Yassin MoktadirCommercial Aftermarket

Associate

By the numbers: up 15% yoy vs. 15% last quarter (vs. 1Q UBSe of up 13%). yassin.moktadir@ubs.com

+44-20-7568 4313

Highlights: WWD and GE Services provided solid growth execution in 1Q. At the

time of earnings, we saw no signs of impacts to order activity yet. If the Middle

East conflict drags on and oil prices remain elevated, in the coming months we

would expect to see airlines make more structural fleet changes toward more fuel

efficient aircraft. Outperformers: WWD and GE (Commercial Services and

Orders).