TDG - Why TransDigm Stock Soared Higher in June
2023-07-03 18:17:29 ET
The Paris Air Show, the commercial aviation industry's most important event, returned in June after a four-year pandemic break. The big takeaway from the show was that the appetite for airplanes shows no sign of slowing. That excitement lifted a whole range of aerospace stocks, including TransDigm Group (NYSE: TDG) , which saw its shares rise 15.6% for the month, according to data provided by S&P Global Market Intelligence .
Airlines and the companies that supply them were hit hard by the pandemic, but demand for travel has rebounded nicely. In a climate with strong demand for travel, and pressing needs by airlines to become more fuel-efficient to meet toughening climate standards, there is strong demand for new airplanes.
There were 1,266 orders and option announcements during the show, according to FlightGlobal, ranking this as one of the best air shows in the last decade. The orders came from around the globe, with particular strength coming from emerging markets like India.
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Why TransDigm Stock Soared Higher in June