Schwaebisch Hall, Germany – Recaro Aircraft Seating believes that its sales will exceed EUR 500m for the first time this year.
'There are several strategic reasons why we are already exceeding the 500 million-euro sales milestone with more than 110,000 seats during this current financial year,' said Peter Muller, executive vice president, finance and administration.
'It was the right decision not to focus exclusively on market leadership in economy class seats, but rather to invest in strengthening our position in business class as well.'
When the company introduced its strategy in 2013, sales were EUR 300m and around 80,000 aircraft seats/year were being shipped.
Additionally, the company now employs over 500 people in R&D around the world. They have introduced 14 innovations to the market in the past five years.