Our parts are designed into and sold as original aircraft equipment, and we generate recurring aftermarket revenue over the lives of the aircraft, which average about 30 years. Approximately 55% of our revenues are generated from aftermarket sales, and more than 90% of our sales are of proprietary products for which we own the design. In addition, approximately 75% of our sales are from products for which we are the sole source supplier. We provide components for a large, diverse installed base of aircraft and are not overly dependent on any single airframe.

Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, NiCad batteries and chargers, engineered latching and locking devices, rods and locking devices, engineered connectors and elastomers, cockpit security components and systems, specialized cockpit displays, aircraft audio systems, specialized lavatory components, seatbelts and safety restraints, engineered interior surfaces and lighting and control technology.

Our business strategy is made up of two key elements. The first is a value-driven operating strategy focused on obtaining profitable new business, improving our cost structure and providing highly engineered value-added products to customers. The second element is an acquisition strategy focused on proprietary component businesses and related products and services. The successful execution of this business strategy has enabled us to deliver consistent financial performance through all phases of the market cycle of the aerospace industry.