HIGHBuilt-inCustomer
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.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: AAR’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM2
LOW0
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-inGeographic
34.2%
foreign customers
“10-K Item 1A: 'We market our products and services globally, with approximately 34.2% of our consolidated sales in fiscal 2025 derived from sales to foreign customers'”
MEDIUMOutside partyCustomer
24.7%
U.S. government and their 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 compared to $576.1 million (24.8% of consolidated sales) in fiscal 2024'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-09-06AAR Corp's revenue concentration is largely structural rather than counterparty-specific. Commercial customers, including major airlines and related OEM suppliers, generated 71.1% of consolidated sales in fiscal 2025 — a high-share exposure tied to the broad commercial aviation cycle rather than any single buyer. Foreign customers accounted for 34.2% of consolidated sales, a medium-share reflection of the company's global footprint rather than a dependency on one market. Sales to the U.S. government and its contractors were $687.6 million, or 24.7% of consolidated sales, compared with 24.8% a year earlier — a medium-share exposure the filing frames as a dependency on a specific customer class rather than the broader commercial base. Netting these together, the largest exposure is also the most macro in character: commercial aviation demand rather than any one airline or supplier drives the bulk of revenue, while the foreign-sales share simply reflects geographic diversification. The government-and-contractor line is the one piece with more idiosyncratic, buyer-specific risk, though its share has been essentially stable year over year and is not large enough on its own to be a primary swing factor for the verdict.
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 |
| AIR● | AAR Corp. | 1 | 2 | 0 | 3 |
| AVAV | AeroVironment, Inc. | 1 | 1 | 1 | 3 |
| 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.