Commercial Aerospace sales had an increase of 28.3% to US $256.2 million, while Space & Defense sales were US$126.5 million in Q4 2022, an increase of 19.5% from Q4 2001.
However, total Industrial sales had a decrease of 14.6% from Q4 2021 to Q4 2022 to US$46.7 million, due to lower wind energy sales, the company said.
Sales for the full year of 2022 were US$1,577.7 million, up from US$1,324.7 million in 2021.
Commercial Aerospace sales were US$911.8 million, an increase of 36.5%, and Space & Defense full year sales were US$465.2 million, an increase of 7.0%. Full year Industrial sales showed a decrease of 9.4% to US$200.7 million.
“Our markets are recovering strongly, and we are gaining new business as demand grows for lightweight composites that support enhanced performance while improving fuel efficiency and reducing emissions,” said Nick Stanage, Hexcel chairman, CEO and president.
The company reportedly plans to re-commenced construction of a new carbon fiber line at its facility in Decatur, Alabama, which was paused at the beginning of 2020. “The new line should be aerospace qualified in 2025 and will provide needed capacity based on forecasted growth,” said Stanage.
It predicts sales of US$1.725 billion to US$1.825 billion in 2023.