New wins in Q2 2024 increase Gauzy's total market share to a dominant 95% of all cockpit shading in commercial aircraft and business jets
Technical expertise and long-term customer relationships position Gauzy to further expand presence in estimated $600 million annual aircraft shading and lighting market
NEW YORK, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Gauzy Ltd. (Nasdaq: GAUZ) ("Gauzy" or the "Company"), a global leader of vision and light control systems, today announced that its commanding market-leading position in cockpit shading for all commercial aircraft and business jets, which now stands at a dominant 95%, will yield an aggregate revenue of $240 million over the next 10 years. This newly increased market share in cockpit shading was driven by the ramp up of awarded programs in the second quarter of 2024 with long-standing aerospace customers including Gulfstream, Embraer, and Bombardier, which resulted in contributing to Gauzy generating approximately $20.2 million in revenue from its aeronautics business in the first half of 2024, which was a 38.1% increase from the prior year period.
A combination of industry tailwinds will contribute to Gauzy generating significant revenue from cockpit shading over the next decade. These include reported consistent year-over-year increases in demand for air travel, which has resulted in leading airline operators placing large orders for new aircrafts. Moreover, research suggests that air travel will increase 48% in 2024 compared to 2022, while some airlines reported increases in utilization of up to 10% over the past year due to the heightened demand. After 6,000-to-10,000 hours of flight time, international regulatory agencies require aircraft parts and accessories be replaced, creating a continuous need for Gauzy's fully homologated and regulatory approved cockpit shading solutions. Gauzy is uniquely positioned to capitalize on the sizeable opportunity for new aircraft and aftermarket products due to its commercial relationships with leading OEMs for both commercial and business jets, such as Boeing and Airbus, which span more than 20 years.
Gauzy's technical expertise, competitive moat, and well-established relationships in cockpit shading are also a driving force behind its continued expansion into the broader aircraft shading and lighting market, including passenger cabins, which is currently estimated to be a $600 million total addressable market, according to Frost & Sullivan, and is expected to grow at a compounded annual growth rate of 6.4% between 2023 and 2028. Gauzy is currently in serial production for cabin shades and electronically dimmable glass (light control glass) with several leading OEMs and airlines and sees opportunity to materially grow this business over time.
"Aircraft cockpit shading represents an important part of our aeronautics segment today, and we are already on pace to increase our expected cockpit shading revenue by over 40% in 2024 compared to 2023," said Eyal Peso, Gauzy Co-Founder and Chief Executive Officer. "The aerospace market continues to represent a massive opportunity for Gauzy as the surge in air travel drives increased demand for new aircraft and aftermarket products and services. Increasing regulations from global aviation authorities to replace cockpit shades after specified flight hours are contributing to a vigorous pace of aftermarket activity for our market-leading solutions. This tailwind is complemented by the increased demand for new aircrafts that can utilize our cockpit and cabin solutions. We believe that our competitive strengths, longstanding relationships and track record uniquely position us to steadily grow our revenue over the long-term as a Tier-1 aeronautics supplier."
Gauzy offers a wide range of cockpit shading systems and custom-made solutions including dimmable cockpit side windows, roller blinds with high-tech film, and high visual quality sun visors. All of Gauzy's solutions are certified by OEMs, compliant with applicable regulatory authorities, meet fire and smoke standards, and comprise a scratch-resistant treatment. As OEMs compete to differentiate their offerings, controlling the amount of natural light that enters the aircraft, minimizing glare, and regulating cabin and cockpit temperature are generally considered essential to creating more comfortable environments. Gauzy's products are solving these important factors, contributing to its dominant position in the global aircraft cockpit and cabin shading market for commercial airlines and business jets.
About Gauzy
Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and Dubai. Gauzy serves leading brands in over 30 countries through direct fulfillment and a certified and trained distribution channel.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy's strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as "may," "seek," "will," "consider," "likely," "assume," "estimate," "expect," "anticipate," "intend," "believe," "do not believe," "aim," "predict," "plan," "project," "continue," "potential," "guidance," "objective," "outlook," "trends," "future," "could," "would," "should," "target," "on track" or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. In particular, forward-looking statements in this press release include its expected revenue growth for cockpit shading through the end of 2024 as well as expected aggregated revenue over ten years. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy's current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict including, without limitation, the following: Gauzy invests significant effort and capital seeking validation of its light and vision control products with OEMs and Tier 1 suppliers, mainly in the aeronautics and automobile markets, and there can be no assurance that it will win production models, which could adversely affect its future business, results of operations and financial condition; failure to make competitive technological advances will put Gauzy at a disadvantage and may lead to a negative operational and financial outcome; Gauzy being an early growth-stage company with a history of losses and its anticipation that it expects to continue to incur significant losses for the foreseeable future; its operating results and financial condition have fluctuated in the past and may fluctuate in the future; it is exposed to high repair and replacement costs; it may not be able to accurately estimate the future supply and demand for its light and vision control products, which could result in a variety of inefficiencies in its business and hinder its ability to generate revenue; if it fails to accurately predict its manufacturing requirements, it could incur additional costs or experience delays; the estimates and forecasts of market opportunity and market growth it provides may prove to be inaccurate, and it cannot assure that its business will grow at similar rates, or at all; it may be unable to adequately control the capital expenditures and costs associated with its business and operations; it may need to raise additional capital before it can expect to become profitable from sales of its light and vision control products, which such additional capital may not be available on acceptable terms, or at all, and failure to obtain this necessary capital when needed may force it to delay, limit or terminate its product development efforts or other operations; shortages in supply, price increases or deviations in the quality of the raw materials used to manufacture its products could adversely affect its sales and operating results; its business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing conflict between Russia and Ukraine; it is subject to, and must remain in compliance with, numerous laws and governmental regulations across various countries concerning the manufacturing, use, distribution and sale of its light and vision control products, and some of its customers also require that it complies with other unique requirements relating to these matters; if it is unable to obtain, maintain and protect effective intellectual property rights for its products throughout the world, it may not be able to compete effectively in the markets in which it operates; the market price of its ordinary shares may be volatile or may decline steeply or suddenly regardless of its operating performance, and it may not be able to meet investor or analyst expectations; its indebtedness could adversely affect its ability to raise additional capital to fund operations, limit its ability to react to changes in the economy or its industry and prevent it from meeting its financial obligations; it has limited operating experience as a publicly traded company in the United States; conditions in Israel could materially and adversely affect its business; and any other risks and uncertainties, including, but not limited to, the risks and uncertainties in the Company's reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company's prospectus (Registration No. 333-278675), dated June 5, 2024 and filed with the SEC. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law.
IR and Media Contact Info
Media:
Brittany Kleiman Swisa
Gauzy Ltd.
press@gauzy.com
Investors:
Dan Scott, ICR Inc.
ir@gauzy.com
2024 年第二季度的新胜利使Gauzy的总市场份额达到商用飞机和公务机所有座舱遮阳板的95%
技术专长和长期客户关系使Gauzy能够进一步扩大其在每年约6亿美元的飞机遮阳和照明市场的影响力
纽约,2024年8月15日(GLOBE NEWSWIRE)——视觉和照明控制系统的全球领导者Gauzy Ltd.(纳斯达克股票代码:GAUZ)(“Gauzy” 或 “公司”)今天宣布,其在所有商用飞机和公务机驾驶舱遮阳领域的市场领先地位(目前占主导地位的95%)将在未来10年内创造2.4亿美元的总收入。驾驶舱遮阳领域新增的市场份额是由2024年第二季度与包括湾流、巴西航空工业和庞巴迪在内的长期航空航天客户合作的奖励计划的增加所推动的,这使Gauzy在2024年上半年从其航空业务中创造了约2,020万美元的收入,比上年同期增长了38.1%。
行业利好因素的结合将有助于Gauzy在未来十年内通过驾驶舱遮阳产生可观的收入。其中包括据报道,航空旅行需求持续同比增长,这导致领先的航空公司下了大量新飞机订单。此外,研究表明,与2022年相比,2024年的航空旅行将增长48%,而一些航空公司报告说,由于需求增加,过去一年的利用率增长了多达10%。在飞行时间达到 6,000 到 10,000 小时后,国际监管机构要求更换飞机零件和配件,从而持续需要 Gauzy 完全认证和监管部门批准的驾驶舱遮阳解决方案。Gauzy与领先的商用和公务机原始设备制造商(例如波音和空中客车)的商业关系持续了20多年,因此在利用新飞机和售后产品的巨大机会方面处于独特的地位。
Gauzy的技术专长、竞争护城河以及在驾驶舱遮阳领域的良好关系也是其继续向更广泛的飞机遮阳和照明市场扩张的推动力,包括客舱。根据弗罗斯特沙利文的数据,目前客舱的潜在市场总额估计为6亿美元,预计在2023年至2028年之间将以6.4%的复合年增长率增长。Gauzy目前正在与几家领先的OEM和航空公司批量生产舱窗帘和电子可调光玻璃(光控玻璃),并认为随着时间的推移,该业务有机会实现实质性增长。
Gauzy联合创始人兼首席执行官埃亚尔·比索表示:“飞机驾驶舱遮阳是当今航空领域的重要组成部分,我们已经有望在2024年将预期的驾驶舱遮阳收入与2023年相比增长40%以上。”“航空航天市场仍然是Gauzy的巨大机遇,因为航空旅行的激增推动了对新飞机和售后市场产品和服务的需求增加。全球航空当局越来越多地规定在指定飞行时间后更换驾驶舱遮阳帘,这推动了我们市场领先解决方案的售后市场活动蓬勃发展。对可利用我们的驾驶舱和客舱解决方案的新飞机的需求不断增加,这与这种顺风相辅相成。我们相信,作为一级航空供应商,我们的竞争优势、长期关系和往绩记录使我们能够长期稳步增长收入。”
Gauzy 提供各种驾驶舱遮阳系统和定制解决方案,包括可调光的驾驶舱侧窗、带有高科技薄膜的卷帘和高视觉质量的遮阳板。Gauzy 的所有解决方案均经过 OEM 认证,符合适用的监管机构,符合防火和防烟标准,并包括防刮处理。随着原始设备制造商竞相实现产品差异化,控制进入飞机的自然光量、最大限度地减少眩光以及调节机舱和驾驶舱温度通常被认为是创造更舒适的环境的关键。Gauzy的产品正在解决这些重要因素,从而巩固了其在全球商用航空公司和公务机飞机驾驶舱和客舱遮阳市场的主导地位。
关于 Gauzy
Gauzy Ltd. 是一家完全整合的光和视觉控制公司,专注于视觉和照明控制技术的研究、开发、制造和营销,这些技术旨在支持各行各业的安全、可持续、舒适和敏捷的用户体验。该公司总部位于以色列特拉维夫,在德国、法国、美国、加拿大、中国、新加坡和迪拜设有其他子公司和实体。Gauzy 通过直接配送和经过认证和培训的分销渠道为 30 多个国家的领先品牌提供服务。
前瞻性陈述
本新闻稿包含前瞻性陈述。本新闻稿中包含的前瞻性陈述包括但不限于有关Gauzy的战略和业务计划、技术、关系、目标和预期、增长、趋势对其业务、知识产权、产品及其未来业绩的影响、运营和财务业绩及状况的陈述,可以使用 “可能”、“寻求”、“将”、“考虑”、“可能” 等词语来识别 “假设”、“估计”、“期望”、“预测”、“打算”、“相信”、“不相信”、” “目标”、“预测”、“计划”、“项目”、“继续”、“潜力”、“指导”、“目标”、“展望”、“趋势”、“未来”、“可能”、“将”、“应该”、“目标”、“步入正轨” 或其否定内容或变体以及类似含义的类似术语和词语,通常涉及未来或前瞻性陈述。特别是,本新闻稿中的前瞻性陈述包括其到2024年底驾驶舱遮阳的预期收入增长以及十年的预期总收入。除历史事实陈述以外的所有陈述均为前瞻性陈述。前瞻性陈述反映了Gauzy当前对未来事件和财务业绩的看法、计划或预期。它们本质上会受到重大的业务、经济、竞争和其他风险、不确定性和突发事件的影响。前瞻性陈述基于Gauzy当前的预期,受难以预测的固有不确定性、风险和假设的影响,包括但不限于以下方面:Gauzy投入了大量精力和资金,寻求与原始设备制造商和一级供应商的光和视觉控制产品进行验证,主要集中在航空和汽车市场,而且无法保证它会赢得量产车型,这可能会对其未来的业务、经营业绩和财务状况产生不利影响; 失败取得有竞争力的技术进步将使Gauzy处于不利地位,并可能导致负面的运营和财务业绩;Gauzy是一家处于早期成长阶段的公司,有亏损历史,预计在可预见的将来将继续蒙受重大损失;其经营业绩和财务状况过去曾波动,将来可能会波动;它面临高昂的维修和更换成本;它可能无法准确估计其光和视觉控制的未来供需情况产品,这可能会导致其业务出现各种低效率并阻碍其创收能力;如果它不能准确预测其制造需求,则可能产生额外的成本或出现延误;它提供的市场机会和市场增长的估计和预测可能不准确,也无法保证其业务将以类似的速度增长,或者根本无法保证;它可能无法充分控制与其业务和运营相关的资本支出和成本; 它可能需要提高在它有望通过销售其光和视觉控制产品获利之前获得额外资本,此类额外资本可能无法以可接受的条件提供,或者根本无法获得,而在需要时未能获得这些必要的资本可能会迫使其推迟、限制或终止其产品开发工作或其他业务;供应短缺、价格上涨或用于制造其产品的原材料质量的偏差可能会对其销售和经营业绩产生不利影响;其业务、财务、条件和结果的业务可能会受到俄罗斯和乌克兰之间持续冲突造成的全球经济混乱的不利影响;它必须遵守各国有关其光和视觉控制产品的制造、使用、分销和销售的众多法律和政府法规,并且其一些客户还要求其遵守与这些事项有关的其他独特要求;如果它无法获得、维护和保护其有效的知识产权在全球范围内,它可能无法在其运营的市场上进行有效竞争;无论其经营业绩如何,其普通股的市场价格都可能波动不定,也可能急剧或突然下跌,可能无法达到投资者或分析师的预期;其负债可能对其筹集额外资金为运营提供资金的能力产生不利影响,限制其对经济或行业变化的反应能力,并使其无法满足其财务需求义务;它的运营经验有限一家在美国上市的公司;以色列的情况可能对其业务产生重大不利影响;以及任何其他风险和不确定性,包括但不限于公司不时向美国证券交易委员会提交的报告中的风险和不确定性,包括但不限于公司于2024年6月5日向美国证券交易委员会提交的招股说明书(注册号333-278675)中详述的风险。此外,某些前瞻性陈述基于对未来事件的假设,这些假设可能不准确。不应将本信函或任何其他信息中包含前瞻性陈述视为Gauzy或任何其他人对当前计划或预期将实现的陈述。前瞻性陈述仅代表其发表之日,除非法律另有规定,否则Gauzy没有义务公开更新或修改任何前瞻性陈述,无论是由于新信息、未来发展还是其他原因。
投资者关系和媒体联系信息
媒体:
布列塔尼·克莱曼·斯威萨
Gauzy Ltd.
press@gauzy.com
投资者:
丹·斯科特,ICR Inc.
ir@gauzy.com