ExecutiveA Quarterly Digest from the Aerospace Industries ReportAssociation 4th Quarter 2014 Orion Hits the Target President’s

2014 OFFICERS Michael T. Strianese, Chairman David L. Joyce, Vice Chairman Marion C. Blakey, President & Chief Executive Officer Time to End Ginette C. Colot, Secretary-Treasurer 2014 EXECUTIVE COMMITTEE the Gridlock William M. Brown President & Chief Executive Officer hroughout AIA’s Second to None Campaign, we’ve pointed out the folly of locking Harris Corporation our nation’s security and R&D policy in a fiscal vise for a decade, regardless of the Wes Bush T Chairman, Chief Executive Officer and President circumstances we face. Northrop Grumman Corporation Gerald J. DeMuro When the Budget Control Act (BCA) of 2011 was signed into law, ISIS was an unknown President & Chief Executive Officer BAE Systems, Inc. Messageentity. Three years ago Russia hadn’t invaded a neighboring country and committed to Scott C. Donnelly increasing its weapons spending by 85 percent from 2012 to 2017. Back then official Chairman & Chief Executive Officer Textron Inc. Washington was still debating about the reasons for China’s military growth. Yet as The David P. Hess Chairman, International Aero Engines Board of Directors Economist reported last year, China’s neighbors “see the relentless growth in China’s military United Technologies Corporation spending…as going hand-in-hand with a determination to settle sovereignty disputes in its Marillyn Hewson Chief Executive Officer, President & Chairman of the Board ‘near seas’…on China’s own terms.” And three years ago, some experts were convinced cyber Lockheed Martin Corporation attacks were just a nuisance. What North Korean operatives reportedly did in hacking into Raanan Horowitz President & Chief Executive Officer Sony Pictures’ computer systems is just one of many recent disturbing cyber assaults on Elbit Systems of America David L. Joyce U.S. businesses and federal government agencies. Indeed, last October, our Department of President & Chief Executive Officer GE Aviation Homeland Security warned that since 2011 a malware associated with Russian hackers dubbed Thomas A. Kennedy BlackEnergy is being used to attack software used to run power plants and factories. Chief Executive Officer Raytheon Company Today, the public grasps that we’re facing an unprecedented range of threats which require John S. Langford Chairman & Chief Executive Officer a more adequate response than keeping the budget straightjacket on national security Aurora Flight Sciences and R&D spending. This is the central message of a comprehensive Harris Poll voter survey Tim O. Mahoney President & Chief Executive Officer conducted for AIA right after the election. Among key survey findings are the following: Honeywell Aerospace J Thomas S. Marotta Seventy-eight percent of voters believe the hostile activities of ISIS, al Qaeda Chairman and Chief Executive Officer Marotta Controls, Inc. and other groups contesting for control of Syria and Iraq represent an increasing David F. Melcher national security threat. Chief Executive Officer & President Exelis, Inc. J The concern about this threat is bipartisan; 90 percent of Republicans and 69 Dennis A. Muilenburg Vice Chairman, President & Chief Operating Officer percent of Democrats are worried about our security as a result of recent events in The Boeing Company the Middle East. Phebe Novakovic Chairman & Chief Executive Officer J Seventy-three percent say they believe the U.S. is less secure, knowing that cuts General Dynamics Corporation to the military initiated in 2011 amount to nearly $1 trillion over a decade. Michael T. Strianese Chairman, President & Chief Executive Officer Majorities of Republicans (90 percent), Independents (71 percent) and Democrats L-3 William H. Swanson (55 percent) hold this view. Chairman & Chief Executive Officer Raytheon Company Scott Thams Chief Executive Officer About the Cover: Orion, NASA’s spacecraft designed for deep space exploration, had a successful launch and test flight from Integrity Aerospace Group, Inc. Cape Canaveral, FL on December 5, 2014. Photo Credit: NASA / Bill Ingalls When the Budget Control Act (BCA) of 2011 was signed into law “ ISIS was an unknown entity...Russia hadn’t invaded a neighboring country and committed to increasing its weapons spending by 85 percent...Washington was still debating about the reasons for China’s military growth...and some experts were convinced cyber attacks were just a nuisance.

Members of Congress and potential presidential candidates should” not ignore the following survey findings: J A solid 69 percent of voters want to increase national security spending, especially relative to the budget caps set over three years ago. This view is shared by a majority of voters across party lines—83 percent of Republicans, 63 percent of Independents and half of Democrats. J The same number of voters—69 percent—say they would be more likely to support a candidate who wants to increase spending on national security. Of those who would be more likely to support such a candidate, 39 percent would be “much more likely” to support that candidate.

These numbers don’t surprise me. I’ve long felt the public strong and secure. And remember, as the BCA is currently understands the need to invest in national security, and the constituted, the defense and domestic programs that are aerospace technologies that propel economic advancement. absorbing the brunt of the pain from the mandated budget As a new Congress begins to organize, policy makers cuts amount to less than 40 percent of the federal budget. should remember that the sequester was never In the months ahead, AIA, its member companies and the supposed to happen; this “poison pill” designed to force growing ranks of aerospace and defense supporters who’ve a comprehensive deal on spending, entitlements and joined our new Second to None Coalition will be keeping revenues kicked in when Congress and the White House the heat up on Congress and the Administration until couldn’t get the job done. they finally come to the bargaining table to lift the budget Fortunately, we’ve heard from many veteran legislators caps for good. At his year end press conference, President and newcomers to Capitol Hill who believe it’s now time to Obama said, “My presidency is entering the fourth quarter. lift the budget caps on defense. That said, we recognize a Interesting things happen in the fourth quarter.” I agree. one-sided deal will not pass in this divided government. There’s plenty of time for official Washington to address Congress needs to also take on the domestic R&D sensibly our nation’s national security, investment and fiscal investment gap and address other domestic priorities, in priorities. Let’s not wait until this fourth quarter is almost the context—as we’ve long contended—of a compromise over and a Hail Mary pass is our only option. deal that also includes revenue and entitlement reforms. Yes, we still must absorb prudent cuts to federal programs in order to address the deficit and debt problem. But these cuts can’t be so draconian that we are unable to invest in Marion C. Blakey the future technologies and systems we need to remain President & Chief Executive Officer

EXECUTIVE REPORT  3 Interview with Mike Hawes Lockheed Martin vice president and Orion program Q&A manager, and Chair of AIA’s Space Council

AIA: Congratulations on the spectacular success of the first Orion flight. What are your initial observations about Orion’s performance? It seemed to have flown exactly as planned. Did you learn anything unexpected or surprising? Hawes: We’ll need to perform a complete analysis of components and instrumentation, but real-time data collected during the flight indicates a very clean flight and terrific performance. The insights we’ll gain from Exploration Flight Test (EFT)-1 are invaluable for Orion’s future. We are hopeful that EFT-1 will provide engineers with data about systems critical to crew safety such as heat shield performance, separation events, avionics and software performance, attitude control and guidance, parachute deployment, and recovery operations to validate designs of the spacecraft before it begins carrying humans to new destinations in deep space.

AIA: How does Orion differ in its mission and design from the spacecraft that support crew transport to the International Space Station? Hawes: On Commercial Crew, the industry teams own the spacecraft and provide transport to the ISS as a service to NASA. With Orion, while we’re a blended team, NASA very clearly owns the design and spacecraft, which Lockheed Martin built. Both models feature innovation, and they borrow best practices from each other. For instance, we utilized commercial practices for the EFT-1 launch, providing the launch and the test data to NASA as a service. The blended team model is perfect for Orion. We’re breaking new ground – doing something that’s never been done before – and that takes a united team all working towards a common goal. We’ve driven a number of innovations into the business model. Instead of NASA being only in the oversight role, they are actually providing many portions of the system and mission as in-line services. Flight operations, ground operations, recovery support and parachute development are all examples of in-line NASA functions. Commercial Crew spacecraft are designed and built for different purposes. Commercial Crew capsules are ideally-suited to ferry astronauts to the ISS, which is about 250 miles above Earth’s surface. They’re like regional jets. Orion is built for long hauls; it’s the equivalent of a jumbo jet. To put it in perspective, on EFT-1 we went 3,600 miles out beyond Earth – well beyond the ISS – and the journey to Mars is 35 million miles. It takes nine months to get there. We think of it as part of a complementary NASA fleet of spacecraft that helps them meet their different mission needs. After a successful test flight and splashdown, Orion is ready for recovery.

4  AEROSPACE INDUSTRIES ASSOCIATION AIA: How well suited is Orion to support a Mars mission? Hawes: We’re designing and building Orion with the capabilities to ultimately get to Mars, and to do so as efficiently and affordably as possible. Orion is a fundamental building block for deep space exploration missions. We know that getting to Mars won’t be easy – it will take investment, international collaboration and technological innovation – but the world gains many pragmatic and aspirational benefits from human exploration of deep space that make this bold mission worth the commitment and investment. No one ever said it would be easy, but things really worth doing rarely are. Orion is the only crewed spacecraft being built to withstand the  punishing journey to other planets. A straight shot, one-way trip to Mars is 35 million miles. That’s about 140,000 times further than the ISS. If you’re going, you want a spacecraft built for long hauls that will safely get you there and back. Orion protects astronauts from dangerous radiation, severe cold  and extreme heat; has smart flight software that navigates in deep space – where there’s no GPS; and eliminates the risk of single point failures through layers of backup systems so astronauts can focus on the mission. Orion gliding over the Pacific Ocean prior to splashdown. AIA: Have we as a nation and as an industry made much progress on human spaceflight technologies and management approaches since the ISS was designed in the 1990s? Hawes: Absolutely. EFT-1 is a significant step forward for America’s space program; it’s our first step on a journey to Mars. We wouldn’t have reached this point if it were not for advances in technology. For example, we assembled the spacecraft in our virtual reality “CHIL” lab, which lets us work out the kinks  and dry run the manufacturing before we hit the production floor – saving time and costs. We’ve got a Launch Abort System with half a million pounds of thrust capable of pulling the crew a mile up and mile away from the launch pad in the event of an emergency. Orion’s life support system is self-healing and advanced enough that even in an emergency loss of pressure, or contamination, it can safely bring its crew home. And in fact we flew parts that utilize “additive manufacturing” (3D printing) on EFT-1.

“We know that getting to Mars won’t be easy – it will take investment, international collaboration and technology innovation – but the world gains many pragmatic and aspirational benefits from human exploration of deep space that make this bold mission worth the commitment and investment.”

AIA: AIA supports the Team America Rocketry Challenge to help inspire and attract the next generation of engineers and technicians for our industry. Do you see Orion having a role in helping to inspire young people to study science and math? Hawes: Programs like Orion are a great way to inspire the next generation of engineers. It’s the reason some of the world’s brightest engineering minds come to work at Lockheed Martin. We live for this kind of project. It’s not just a technological marvel, it’s going to push the boundaries of scientific discovery and human achievement. Many of the space missions that LM undertakes are among the hardest things that humans do. What better way to inspire that next generation than with an amazing program like this?

EXECUTIVE REPORT  5 Fall Board of Governors Meeting in Scottsdale

IA returned once more to the land of spectacular World War I drawing of national boundaries in the Middle A sunsets – Scottsdale, Arizona – for 2014’s Fall Board of East has led to many of the conflicts we are witnessing Governors and Membership meeting. Responding to member in the region today. He spoke about the need to address input, the meeting format allowed more time for members fundamental problems in some of the region’s unstable to informally converse with each other and to interact with countries that are creating an environment conducive to government officials, journalists and subject matter experts. turning young men into terrorists. Meeting highlights included Deloitte’s Tom Captain the following: moderated a panel on the Politico’s Editor-in-Chief John economic outlook for the Harris gave a post-mortem of aerospace and defense the 2014 midterm elections, industry featuring member then led a discussion on the company executives David outlook for the new Congress. Hess of UTC, Kelly Ortberg The discussion featured of Rockwell Collins, Tom panelists Sid Ashworth, Marotta of Marotta Controls Northrop Grumman Corporate and Karl Hutter of Click Bond. Vice President for Government Pictured Left to Right: Sid Ashworth, Gen. Richard Cody, John Harris, The panelists emphasized Tim Keating and Gregory Dahlberg Relations; Gen. Richard Cody, the importance of exports to L-3 Communications Corporate Senior Vice President; Tim company bottom lines. Keating, The Boeing Company Senior Vice President of Public NOAA Administrator Dr. Kathryn Sullivan spoke about the Policy; and Gregory Dahlberg, Lockheed Martin Senior Vice need to have a “weather ready nation,” which utilizing weather President for Strategic Enterprise Initiatives. The panelists satellites and other technology can predict and respond to addressed prospects for the 114th Congress to make a severe storm outbreaks. serious effort to lift the budget caps on defense and other Also, FAA Administrator Michael Huerta led a conversation vital government programs. with CEOs Tim Mahoney of Honeywell and David Melcher of Brookings scholar and former CIA analyst Kenneth Pollock Exelis about engaging the aviation industry in better ways to provided historical perspective about how the haphazard post manage aviation risk.

(left to right) Tim Mahoney, Honeywell Aerospace President and CEO, Dr. Kathryn Sullivan, NOAA Administrator, stressed the importance of Michael P. Huerta, FAA Administrator and David Melcher, Exelis Inc. satellite data to accurately predict severe storm tracks. President and CEO discuss managing aviation risk. Photo credits and background image courtesy of Dan Stohr 6  AEROSPACE INDUSTRIES ASSOCIATION AIA Full Member Companies 3M Company Barnes Aerospace DuPont Company IEC Electronics Corporation NYLOK, LLC Siemens PLM Software AAR Corporation Belcan Corporation Eaton Aerospace Operations Celmet O’Neil & Associates Sierra Nevada Space ACE Clearwater Enterprises Benchmark Electronics, Inc. Elbit Systems of America IEC Electronics - Albuquerque Ontic Engineering & Systems Accenture The Boeing Company Embraer Aircraft Holding, Inc. IEC Electronics Wire and Manufacturing, Inc. SIFCO Industries, Inc. Acutec Precision Machining Bombardier Aerospace EPS Corporation Cable Inc. Oracle USA, Inc. SITA Accurus Aerospace C2 Technologies, Inc. Erickson Air-Crane, Inc. Southern California Braiding, Oxford Performance Materials Spacecraft Components Corporation, LLC C4 Associates, Inc. Ernst & Young, LLP Inc. Pacifica Engineering, Inc. Corporation Aerojet Rocketdyne CADENAS PARTsolutions, LLC ESI North America Iron Mountain The Padina Group (TPG), Inc. Space Exploration Aero-Mark, LLC Cadence Aerospace ESIS, Inc. J Anthony Group, LLC Parker Aerospace Technologies Corporation AGC Aerospace & Defense Camcode Division of Horizons, Esterline Technologies Jabil Defense & Aerospace Plex Systems, Inc. Sparton Corporation Aireon, LLC Inc. Exelis Inc. Services, LLC Plexus Corp. Spirit AeroSystems Alcoa Defense Castle Metals Aerospace Exostar, LLC Kaman Aerospace Corporation PPG Aerospace-Sierracin Tech Manufacturing, LLC Align Aerospace, LLC Celestica, Inc. Flextronics International USA KPMG, LLP Corporation Textron Inc. Allfast Fastening Systems, Inc. Chromalloy Gas Turbine Flight Safety International L-3 Communications PriceWaterhouseCoopers Therm, Inc. Alliant Techsystems, Inc. (ATK) Corporation Fluor Corporation Corporation Aerospace & Defense Triumph Group, Inc. AlliedBarton Security Services Click Bond, Inc. FS Precision Tech, LLC LAI International, Inc. Advisory Services United Parcel Service Allied Telesis, Inc. Cobham, plc FTG Circuits, Inc. Leidos Corporation RAF Tabtronics, LLC United Technologies American Pacific Corporation Computer Sciences General Dynamics LMI Aerospace, Inc. Raytheon Company Corporation Analytical Graphics, Inc. Corporation (CSC) Corporation Lockheed Martin Corporation Rhinestahl Corporation Goodrich Corporation Applied Technical Services CPI Aerostructures General Electric Aviation Lord Corporation RIX Industries Hamilton Sundstrand Corporation Crane Aerospace & GKN Aerospace North Marotta Controls, Inc. Rockwell Collins Pratt & Whitney Astronautics Corporation of Electronics America Mayday Holdings Rolls-Royce North America, Sikorsky America Cryptography Research, Inc. Guardsmark, LLC Meggitt-USA Inc. Inc. Verify, Inc. Aurora Flight Sciences Cubic Corporation Harris Corporation Micro-Coax, Inc. RTI International Metals, Inc. Verizon Enterprise Solutions Ausco, Inc. Curtiss-Wright Corporation HCL America, Inc. Microsemi Corporation SAP America, Inc. Virgin Galactic, LLC Avascent Cyient Ltd. (formerly Infotech HEICO Corporation Moog, Inc. Satair Wesco Aircraft Hardware B&E Group, LLC Enterprises) Hexcel Corporation Natel Electronic Manufacturing SCB Training Center Inc. Corporation B/E Aerospace, Inc. Deloitte Consulting, LLP Honeywell Aerospace Services Seal Science, Inc. Woodward Inc. BAE Systems Denison Industries HP Enterprise Services National Technical Systems, Securitas Critical Infrastructure Xerox Corporation Ball Aerospace & Technologies DigitalGlobe Huntington Ingalls Industries Inc. (NTS) Services, Inc. (formerly Corporation Ducommun, Inc. IBM Corporation NORDAM Pinkerton Government Northrop Grumman Services, Inc.) Corporation AIA Associate Member Companies Acme Industrial Company Breeze-Eastern Corporation Fives Machining Systems, Inc. KAPCO Aerospace Perillo Industries, Inc. Stanley Engineered ADI American Distributors, Inc. Brogdon Machine, Inc. (formerly MAG Industrial Kitco Defense Phillips Screw Company Fastening (formerly Emhart Aeronautical Systems, Inc. BRPH Architects Engineers Automation Systems, LLC) Kulite Semiconductor Piedmont Triad Airport Teknologies) Aerospace Alloys, Inc. BTC Electronic Components, Flatirons Solutions, Inc. Products, Inc. Authority Black & Decker Company Aerospace Joint Apprenticeship Inc. (formerly InfoTrust Group) Landstar Transportation Plymouth Engineered Shapes Starrag USA, Inc. Committee (AJAC) CDG Freedom Alloys Logistics Pointe Precision, Inc. Stroco Manufacturing, Inc. AeroVironment, Inc. Celltron, Inc. Frontier Electronic Systems LMI (Logistics Management Precision Gear, Inc. Tactair Fluid Controls Inc. AirBorn, Inc. CERTON Corporation Institute) Precision Tube Bending Tata Consultancy Services Airfasco Industries CIT Transportation Lending Future Metals, LLC Loos & Co., Inc. Radant Technologies, Inc. (formerly TCS America) Air Industries Group CND, LLC (formerly Cherokee Glovia International The Lundquist Group RAM Company TCI Alcoa Fastening Systems Nation Distributors) G.S. Precision, Inc. Materion Brush, Inc. (formerly Renaissance Services TechSolve, Inc. Allen Aircraft Products, Inc. Co-Operative Industries GSE Dynamics, Inc. Brush Wellman, Inc.) Renaissance Strategic TEK Precision Co., Ltd. Altemp Alloys, Inc. Defense, LLC Hangsterfer’s Laboratories, Inc. Merex Aircraft Company, Inc. Advisors, LLC Telephonics Corporation AMI Metals, Inc. Compass Forwarding Co., Inc. Harry Krantz Company Meyer Tool, Inc. Rocker Industries TEVET, LLC Anoplate Connecticut Center for Hawker Beechcraft Corporation Mid-Atlantic Aviation Safran USA Thales USA, Inc. Applied DNA Sciences, Inc. Advanced Technology, Inc. Hercules Heat Treating Partnership Samuel Aerospace Metals Thermacore, Inc. APV Manufacturing & (CCAT) Corporation Mid-State Aerospace, Inc. Scot Forge Corporation ThyssenKrupp Aerospace Engineering Co. Consolidated Industries, Inc. H&S Swansons’ Tool Company Millitech, Inc. SDL (formerly XyEnterprise) North America Arkwin Industries, Inc. Consolidated Precision HDL Research Lab, Inc. Monogram Aerospace SEAKR Engineering, Inc. Tiodize Co., Inc. Arnold Magnetic Technologies Products Hi-Temp Insulation, Inc. Fasteners Sechan Electronics, Inc. Torotel Products, Inc. – Precision Thin Craig Technologies Houlihan Lokey Montana Metal Products, LLC SELEX Galileo (formerly TSI Plastics, Inc. Metals Division Crestwood Technology Group Hughes Bros. Aircrafters, Inc. Morris Machine Company, Inc. SELEX Sensors and Airborne TTI, Inc. Arrow Electronics, Inc. Dassault Systemes Impresa Aerospace, LLC National Machine Group Systems US, Inc.) TTM Technologies, Inc. Arrowhead Products Dayton T. Brown, Inc. (formerly Venture Aircraft, New Bedford Panoramex Senior Aerospace TW Metals Arundel Machine Tool Co., Inc. Draken International LLC) Corporation Serco, Inc. UEC Electronics Asia-Pacific Engineering EEI Manufacturing Services Industrial Metals Intl., Ltd. New Breed Corporation Service Steel Aerospace USAeroteam, Inc. Consulting Services, LLC Electralloy Infor Norfil, LLC Servotronics, Inc. UT College of Business Astro-Med, Inc. Embry-Riddle Aeronautical Infosys Limited Norton/Saint-Gobain SICPA Aerospace & Defense Astute Electronics, Inc. University Integrated Support Systems, Ohio Aerospace Institute Solar Atmospheres, Inc. Portfolio (formerly University ATC Aerospace Enterprise Florida, Inc. Inc. Oerlikon Balzers Southco, Inc. of Tennessee - Aerospace Athena Manufacturing, LP ETA Global, Inc. Integrity Aerospace Group, Inc. Pacific Precision Products Southern Manufacturing Defense Clearing House) Automatic Screw Machine Etteplan/Tedopres (formerly X-Ray Industries) Pall Aeropower Corporation Technologies W.G. Henschen Company Products Company Exotic Metals Forming InterConnect Wiring PARPRO Special Aerospace Services W.L. Gore & Associates, Inc. Aviation Management Company, LLC ITT Corporation Passur Aerospace Spincraft Whitcraft, LLC Associates, Inc. Fairmont Consulting Group Janes Capital Partners Paulo Products Company Spirit Electronics, LLC Windings, Inc. Banneker Industries, Inc. Ferco Aerospace Group JRH Electronics, LLC PCC Forged Products SPX Precision Components Yarde Metals Pentecom, LLC

EXECUTIVE REPORT  7 AIA Celebrates its 50th Annual Year-End Event

AIA President and CEO Marion C. Blakey delivers the 50th annual Year-End Review and Forecast address to a packed room.

ifty years ago AIA members and representatives of space. Blakey reported that despite a challenging fiscal F the media gathered together to recap the industry’s environment, aerospace and defense companies increased performance throughout the year. Decades later, AIA and profitability this past year, with sales of commercial aircraft its member companies have continued to build upon that pacing industry sales growth. Aerospace exports again broke tradition, hosting an annual year-end luncheon that has records, improving by nearly $8.1 billion, with this growth grown into a widely attended event that puts an appropriate mainly in the civil sector. capstone on the year in aerospace and defense. In addressing the challenges our nation continues to face At the 50th anniversary event on December 17th, in the global arena, Blakey said, “Looking at the world’s AIA President and CEO Marion C. Blakey keynoted the dangers through either the rose colored glasses of a naïve 300-person luncheon by calling on the new Congress to take isolationist or the green eyeshade visor of a fiscal ideologue action to lift the budget caps which are harming national doesn’t work. It presents a false-color image of reality. It security and limiting research and development on new inhibits the clear headed thinking we desperately need about technologies and systems in defense, civil aviation and national security and America’s competitiveness.” AIA and NAR Recognized for Significant STEM Contributions n November 5th the National Aeronautic Association O named AIA and the National Association of Rocketry (NAR) the 2014 recipients of the Frank G. Brewer Trophy. The award serves to recognize an “…individual, a group of individuals, or an organization for significant contributions of enduring value to aerospace education in the United States.” Together, AIA and NAR organize the Team America Rocketry Challenge (TARC). This nationwide youth program advances science, technology, engineering and mathematics education by challenging seventh through twelfth grade students to design, AIA and NAR are presented with the Frank G. Brewer Trophy. build and fly model rockets. Since its establishment in 2003, From left to right: Betsy Schmit, Vice President, National Security, AIA; Bob Brown, President, Academy of Model Aeronautics; TARC has involved over 60,000 students nationwide in its program. Trip Barber, TARC Manager, NAR.

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