Leading aviation engineering specialist ITP Aero claims to be seeing positive impact of its long-term growth strategy as it prepares to return as an exhibitor at the Paris Air Show this year.<\/p>\n
The independent Spanish engine and components manufacturer and former Rolls Royce and SENER joint venture, says it is seeing \u201cexceptional momentum\u201d.<\/p>\n
The company said this has been driven by \u201ctwo years of record-breaking financial performance, and a comprehensive strategic plan focused on investment in research and development, sustainability, and key leadership appointments\u201d.<\/p>\n
Eva Azoulay, ITP Aero Group chief executive, said: \u201cITP Aero enters this year\u2019s Paris Air Show with strong momentum and a clear, strategic objective of being a significant player in the transformation of aerospace through innovation, sustainability, and global collaboration.<\/p>\n
\u201cOur record growth, both financially and in terms of strategic investment over the past two years, reflects the strength of our long-term vision.<\/p>\n
\u201cAs we continue to invest in advanced technologies and expand our capabilities worldwide, we remain committed to delivering cleaner, more efficient propulsion solutions that will power the future of flight.\u201d<\/p>\n
In the last financial year, ITP\u2019s revenue hit a record \u20ac1.61 billion, 24% up on the previous year and since 2022, the firm has grown its revenue by 57%.<\/p>\n
It invested \u20ac235 million in industrial capabilities since 2022, including \u20ac100 million in manufacturing plants last year.<\/p>\n
That investment included a \u20ac28 million to a new castings facility in Mexico and the acquisition of BP Aero to strengthen its global presence in MRO.<\/p>\n
In February 2025, ITP Aero opened its brand-new \u20ac24 million ADMIRE centre at their headquarters in Zamudio, Bilbao in Spain.<\/p>\n
This now serves as its global research and development hub representing what the firms said is a \u201cmajor step in their mission to deliver cleaner, more efficient propulsion technologies, with a focus on SAF, hybrid, and hydrogen capabilities\u201d.<\/p>\n
As part of a strategy to prioritise innovation, ITP Aero invested over \u20ac100 million in research and development in 2024, part of a \u20ac700 million commitment to innovation over the last eight years.<\/p>\n
The company is developing hydrogen propulsion, including the first successful Auxiliary Power Unit (APU) test and the construction of an open-air test bench, developing hybrid-electric technologies through consortium-led initiatives.<\/p>\n
It says it is also leading in additive manufacturing and has become the first aeroengine company certified by EASA for a structural component produced using additive processes.<\/p>\n
In 2024, ITP was awarded a Platinum Medal by EcoVadis, placing it among the top 1% of companies assessed worldwide.<\/p>\n
Its target for achieving net zero by 2030, validated by the Science Based Targets initiative (SBTi), has already resulted in a 13% reduction in core emissions between 2018 and 2023, while achieving an 8% increase in revenue during that period. The Financial Times has also recognised its effort as one of \u201cEurope\u2019s Climate Leaders 2025\u201d.<\/p>\n
Since the last Paris Air Show in 2023, \u00a0ITP Aero has reinforced its executive leadership team key appointments including Azoulay, Alan Jones, executive vice president of MRO Business, and Alistair Kille, group general counsel and chief compliance officer.<\/p>\n
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