Recaro touts record growth in 2018
Aircraft seat manufacturer Recaro announced yesterday the company grew its revenues with 22% to nearly €600 million (US$667 million) in 2018.
“With this result, the market leader in economy class seats continues its more than 15 years of non-stop double-digit growth,” said a release from Recaro. “The global passenger seat market grew approximately five percent per year in that same period. The company’s phenomenal results enable increased investment in further growth and in the ambition to also become the market leader in business class.”
Recaro plans to invest 10% of the revenue back into the company to fuel further expansion in its global operations and to increase research and development.
“This will help Recaro achieve its goal of – next to remaining market leader in the economy class segment - becoming the number one supplier in the business class seat market in the long run,” said the company.
Recaro has also launched a space2grow project that calls for expanding its headquarters in Schwaebisch Hall and other locations over the next five years. The company opened cut2dress, a new dress cover site in Poland in November 2018. The first dress covers produced by this new site are in the air.
Recaro hired 430 new employees globally in 2018, which brought the total number of staff to 2,600 people. In 2019 the company plans to increase the global headcount to approximately 3,000. In Germany alone, the aircraft seat manufacturer will hire more than 100 employees.