HIGHOutside partyCustomer
71.1%
commercial customers
“10-K Item 1A: 'Our sales to commercial customers, including major airlines and related OEM suppliers, were $1,976.1 million (71.1% of consolidated sales) in fiscal 2025.'”
AIR · Concentration risk · 10-K extracted
AAR (AIR) concentration risks
Updated
The most significant concentration AAR discloses is commercial customers at 71.1%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: AAR’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM2
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inProduct / Revenue mix
40%
Parts Supply segment
“10-K Item 1: 'The Parts Supply segment accounted for approximately 40% of our sales in fiscal 2025.'”
MEDIUMBuilt-inGeographic
34.2%
foreign customers
“10-K Item 1A: 'approximately 34.2% of our consolidated sales in fiscal 2025 derived from sales to foreign customers'”
LOWOutside partyCustomer
24.7%
U.S. government and its contractors
“10-K Item 1A: 'Our sales to branches, agencies and departments of the U.S. government and their contractors were $687.6 million (24.7% of consolidated sales) in fiscal 2025'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-23AAR Corp's concentration risk is anchored in its customer mix. Commercial customers, including major airlines and related OEM suppliers, generate 71.1% of consolidated sales — a high-share dependency that ties results to the commercial aviation cycle rather than any single counterparty. That is balanced somewhat by structural diversification elsewhere: the Parts Supply segment contributes approximately 40% of sales and foreign customers account for 34.2% of consolidated sales, both medium-share exposures that reflect the shape of the business rather than a fragile dependency. Government-linked revenue is smaller in scale: sales to the U.S. government and its contractors were 24.7% of consolidated sales, a low-share dependency that adds counterparty concentration but at a more modest weight than the commercial book. Netting these out, the dominant swing factor is the commercial-customer dependency — a downturn in airline demand would hit AAR harder than any single segment or geography shift, while the Parts Supply, foreign-customer, and government exposures are secondary, more diversified contributors to the overall risk picture.
For the engine’s reasoning on AIR’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Aerospace & Defense
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BA | Boeing Company (The) | 2 | 3 | 0 | 5 |
| AVAV | AeroVironment, Inc. | 2 | 1 | 1 | 4 |
| AIR● | AAR Corp. | 1 | 2 | 1 | 4 |
| ACHR | Archer Aviation Inc. | 1 | 0 | 0 | 1 |
| AXON | Axon Enterprise, Inc. | 0 | 2 | 0 | 2 |
| ATRO | Astronics Corporation | 0 | 0 | 1 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.