Safran S.A.
Company typeSociété Anonyme
Euronext ParisSAF
CAC 40 Component
IndustryAerospace
Defense
PredecessorSnecma, Sagem
Founded11 May 2005; 19 years ago (2005-05-11)
Headquarters,
Key people
Olivier Andriès [fr] (CEO)
Ross McInnes (Chairman)[1]
ProductsAircraft engines, equipment, and interiors, defence electronics, avionics, navigation system, communications systems, satellites
RevenueIncrease 23.20 billion (2023)[2]
Increase €3.17 billion (2023)
Increase €2.03 billion (2023)
Total assetsIncrease €50.47 billion (end 2023)
Total equityIncrease €12.09 billion (end 2023)
Number of employees
92,000 (2023)
SubsidiariesOEMServices[3]
Safran Aero Boosters
Safran Aerosystems
Safran Aircraft Engines
Safran Cabin
Safran Ceramics
Safran Electrical & Power
Safran Electronics & Defense
Safran Helicopter Engines
Safran Landing Systems
Safran Nacelles
Safran Passenger Solutions
Safran Seats
Safran Transmission Systems
ArianeGroup (50% ownership)
PowerJet (50% ownership)
Websitewww.safran-group.com

Safran S.A. is a French multinational aerospace and defense corporation that designs, develops and manufactures aircraft engines, helicopter engines, spacecraft propulsion systems as well as various other aerospace and military equipment. The company arose in 2005 through a merger between SNECMA and defense electronics specialist SAGEM. Safran's acquisition of Zodiac Aerospace in 2018 significantly expanded its aeronautical activities.

Employing over 92,000 people and generating 23.2 billion euros in revenue in 2023, the company is listed on the Euronext stock exchange and is part of the CAC 40 and Euro Stoxx 50.[4] Its headquarters are located in Paris.

Name

The name Safran was chosen from 4,250 suggestions, including 1,750 proposed by employees.[5][6] As a holding company for many subsidiaries, the name was deemed suitable for the suggestion of direction, movement, and strategy. Safran translates as rudder blade and as saffron, which the company highlights as one of the catalysts for early international trade.[7]

History

Origins

In 1905 Louis Seguin created the company Gnome.[8] Production of the first rotary engine for airplanes, the Gnome Omega, started in 1909.[8] This company merged with Le Rhône, a company created in 1912 by Louis Verdet, to form the Gnome et Rhône engine company.[8] Gnome & Rhône was nationalized in 1945, creating Snecma.[8] In 2000, this company gave its name to the “Snecma Group”, and carried out a number of acquisitions to form a larger group with an array of complementary businesses.[8]

Sagem (Société d’Applications Générales de l’Electricité et de la Mécanique) was created in 1925 by Marcel Môme.[8] In 1939, Sagem entered the telephone and transmissions market by taking control of Société anonyme des télécommunications (SAT). It acquired Société de Fabrication d’Instruments de Mesure (Sfim), a measurement instrument specialist, in 1999. However, by 2008 Sagem Mobile and Sagem Communications had been sold. Sagem Mobile became Sagem Wireless in January 2009.[9]

Safran Group

The Safran Group was created on 11 May 2005 with the merger of Snecma and Sagem SA.[8]

In June 2014, Arianespace CEO Stéphane Israël announced that European efforts to remain competitive in response to SpaceX's recent success have begun in earnest. This included the creation of a new joint venture company from Arianespace's two largest shareholders: the launch-vehicle producer Airbus and engine-producer Safran.[10]

By May 2015, Safran had created with Airbus Group a launcher joint venture called Airbus Safran Launchers.[11] This entity developed the Ariane 6 launch vehicle for its initial flights in July 2024.[12]

In January 2017, Safran initiated a takeover of the aircraft interior supplier Zodiac Aerospace to create the third largest aerospace supplier with $22.5 billion revenue, behind United Technologies with $28.2 billion and GE Aviation with $24.7 billion; the new group will be 92,000-employee strong, with 48% of its business in aircraft systems and equipment, from landing gears to seats, 46% in propulsion and 6% in defense.[7]

In May 2017, Safran announced the completion of the sale of its identity and security activities to Advent International for Euro 2.4 billion.[13]

In February 2018, Safran took control of Zodiac Aerospace, significantly expanding its aircraft equipment activities. Zodiac Aerospace has 32,500 employees and generated sales of 5.1 billion euros for its fiscal year ended 31 August 2017.[4]

On 4 June 2018 Boeing and Safran announced their 50-50 partnership to design, build and service auxiliary power units after regulatory and antitrust clearance in the second half of 2018.[4] This could threaten the dominance of Honeywell and United Technologies.[14]

In July 2023, Safran agreed to acquire Raytheon subsidiary Collins Aerospace's actuation and flight controls business unit in an all-cash deal worth $1.8 billion[15][16] however the Italian government used its Golden Share in Microtecnica to veto the sale in the belief it would give Safran the commercial ability to sabotage Eurofighter components production, RTX is legally challenging the use of the veto.[17]

Group organisation

The Safran group is divided into three main branches:[18]

Aerospace propulsion

The CFM International CFM56, the most widespread turbofan, is produced by a 50-50 joint venture with GE

The aerospace propulsion branch groups all operations concerning the propulsion of aeroplanes, helicopters, missiles, and launchers, for the civil aviation, military aviation, and space markets: design, production, marketing, testing, maintenance, repair, and overhaul (MRO).

At the October 2018 NBAA convention, Safran presented its ENGINeUS electric motor range up to 500 kW (670 hp) designed for electric aircraft, starting with a 45 kW (60 hp) one with integrated control electronics, with an energy efficiency of over 94% and a power-to-weight ratio of 2.5 kW / kg at 2,500 rpm and 172 N⋅m (127 lb⋅ft) of torque, for a 18-kilogram (40 lb) weight with the controller, 12 kilograms (26 lb) without.[19] Flight-testing may happen in 2019 or 2020.[20]

Other subsidiaries

Aircraft Equipment, Defense and Aerosystems

Electric Green Taxiing System made with Messier-Bugatti-Dowty.

The aircraft equipment branch groups all design, production, sales, and support operations for systems and equipment used by civil and military airplanes and helicopters.

Boeing 777X carbon brakes made by Safran Landing Systems

Other subsidiaries

Aircraft Interiors

Corporate affairs

Shareholder profile

As of 31 October 2020[22]

See also

References

  1. ^ "Olivier Andriès prend les commandes de Safran". 3 January 2021. Retrieved 3 January 2021.
  2. ^ "Safran publishes its full year 2023 results". Safran. Retrieved 15 February 2024.
  3. ^ "OEMServices - Shareholders". OEMServices. Retrieved 28 September 2021.
  4. ^ a b c d "Boeing, Safran Agree to Design, Build and Service Auxiliary Power Units" (Press release). June 4, 2018. Safran Archived 2020-09-24 at the Wayback Machine, Boeing
  5. ^ "Sagem et Snecma donnent naissance à " Safran "". Les Echos (in French). 2005-03-21. Retrieved 2019-08-27.
  6. ^ "Snecma and Sagem Merge, Changing Name to Safran". www.defense-aerospace.com. Archived from the original on 2019-01-01. Retrieved 2019-08-27.
  7. ^ a b Thierry Dubois and Jens Flottau (Jan 20, 2017). "Tier 1 Consolidation Continues As Safran Takes Over Zodiac". Aviation Week & Space Technology.
  8. ^ a b c d e f g "Safran Timeline". Safran. Retrieved 2020-02-24.
  9. ^ Carré, Patrice A. (1993). "From the telegraph to the telex: a history of technology, early networks and issues in France in the 19th and 20th centuries". FLUX Cahiers scientifiques internationaux Réseaux et Territoires. 9 (11): 17–31. doi:10.3406/flux.1993.939.
  10. ^ Abbugao, Martin (2014-06-18). "European satellite chief says industry faces challenges". Phys.org. Retrieved 2014-06-19.
  11. ^ de Selding, Peter B. (2015-05-29). "Airbus Safran Agrees to $440 Million Ariane 6 Contribution". Space News. Retrieved 12 June 2015.
  12. ^ de Selding, Peter B. (2015-04-03). "Desire for Competitive Ariane 6 Nudges ESA Toward Compromise in Funding Dispute with Contractor". Space News. Retrieved 8 April 2015.
  13. ^ "Completion of the sale of Safran's identity and security activities" (Press release). Safran. 31 May 2017. Archived from the original on 25 February 2018. Retrieved 15 March 2018.
  14. ^ Stephen Trimble (June 4, 2018). "Boeing and Safran partner to disrupt APU market". Flightglobal.
  15. ^ White, Sarah (July 21, 2023). "Safran to buy Collins flight controls unit for $1.8bn". Financial Times.
  16. ^ Turpin, Augustin; Hepher, Tim (July 21, 2023). "Safran agrees to buy Collins flight controls business". Reuters.
  17. ^ "RTX threatens legal action against Italy over Microtecnica sale". 12 January 2024.
  18. ^ "Safran modifies the operational management of its equipment activities. New presentation of segment information at June 30, 2019 ". July 1, 2019. Archived from the original on December 20, 2019. Retrieved December 20, 2019.
  19. ^ "Safran unveils an electric motor from its ENGINeUS range, designed for future hybrid and electric aircraft" (Press release). Safran. October 15, 2018. Archived from the original on September 21, 2020. Retrieved October 18, 2018.
  20. ^ Max Kingsley Jones (17 Oct 2018). "NBAA: Safran shows off electric power technology". flightglobal.
  21. ^ "OEMServices Shareholders". OEMServices.
  22. ^ "Capital structure and voting rights". Safran.