MTU Aero Engines moves up to the DAX
Munich region again boasts seven DAX-listed companies
(Sept 5, 2019) This fall, the Munich region once again has seven companies listed in the DAX 30 index. MTU Aero Engines AG is poised to join Germany's biggest publicly traded companies in the countries leading share index, taking the place of Thyssenkrupp.
Headquartered in Munich, MTU Aero Engines AG is Germany's leading producer of aircraft engines. The group manufactures, supports and maintains civil and military aircraft engines across all performance classes, as well as stationary industrial turbines. Its maintenance business for civil aircraft engines is one of the top five players in this segment worldwide.
MTU adds a global aerospace player to the list of Munich-based DAX companies. “We are naturally pleased that MTU Aero Engines AG has joined the ranks of the DAX-listed companies based here in the Bavarian capital,” says Clemens Baumgärtner, Head of the City of Munich's Department of Labor and Economic Development. “In its capacity as a technology leader, MTU plays a special part in showcasing the international importance of the aerospace industry in Munich. MTU Aero Engines is a genuine global player that cooperates with national and European technology programs, so it is also a valuable source of stimulus for research here in Munich.”
Business lines and history
The engines assembled and the components manufactured in Munich are sold to all key players in the industry. MTU has thus been a global player since the 1980s, when it incorporated International Aero Engines (IAE) as a collaborative venture between Pratt & Whitney, Rolls-Royce, FiatAvio and the Japanese Aero Engines Corporation. MTU Aero Engines then developed the V2500 engine – for decades a bestseller for short-haul and medium-haul jets – alongside a raft of other widely used aircraft engines.
Looking to the future, MTU wants to satisfy stricter energy efficiency and environmental requirements. To this end, it is working with Pratt & Whitney to develop the geared turbofan engine.
In the military arena, MTU's historic and present portfolio features engines for the Starfighter, Tornado and Eurofighter aircraft, for the Tiger combat helicopter and for the A400M military transporter. MTU Aero Engines is a system partner to the German army and bundles its military product programs in Munich.
MTU is still growing – especially at its Munich facility in Allach-Untermenzing, where over half of its 10,000-strong workforce are employed.