ITP Aero, majority-owned by Bain Capital, has reported record revenues of €1,612 million in 2024, an increase of 24% compared to 2023. The company also achieved an EBITDA of €295 million, representing a 43% increase from the €217 million recorded in 2023.
In a further demonstration of its commitment to innovation, ITP Aero invested €102 million in research and development (R&D), marking a significant 55% rise from the €66 million invested the previous year.
To support this growth, ITP Aero expanded its workforce in 2024, hiring over 730 new employees, more than 430 of whom are based in Spain. This brings the company's total global workforce to 5,689—an increase of 13.6% year-on-year.
The company's exceptional performance in 2024 was driven by sustained demand for its products, which feature in some of the most advanced commercial aviation platforms currently in service. Growth in its maintenance, repair and overhaul (MRO) operations, as well as its defence business, also contributed significantly. The global commercial aviation sector grew by 10.4% last year in revenue passenger kilometres, a trend projected to continue into 2025. With over 75% of its business linked to commercial aviation, ITP Aero is strongly positioned to support and benefit from the sector's long-term expansion.
Despite global economic uncertainties and the ongoing challenges of complex supply chain dynamics, ITP Aero has shown notable agility and resilience. In 2024, the company succeeded in substantially increasing its deliveries to customers while maintaining consistently high standards of performance and efficiency.
Looking ahead to 2025, ITP Aero anticipates continued strong growth, with significant investment planned to enhance product delivery capabilities and expand its service portfolio in response to rising customer demand. The company is also pursuing strategic innovation initiatives and further M&A opportunities to strengthen its position in the global aerospace and MRO markets.
