Industrial
Our Industrial segment designs and manufactures a variety of products within the Kautex and Specialized Vehicles product lines. Kautex is a leader in designing and manufacturing plastic fuel systems for automobiles and light trucks, along with other automotive systems and components. Specialized Vehicles includes golf cars; off-road utility vehicles; powersports products; light transportation vehicles; aviation ground support equipment; professional turf-maintenance equipment; and specialized turf-care vehicles, designed and manufactured by the Textron Specialized Vehicles business.
2023 REVENUES BY REGION
Kautex is a Top 100 global automotive supplier. The company is a leading developer and manufacturer of blow-molded plastic fuel systems and advanced fuel systems, including pressurized fuel tanks for hybrid applications for cars, light trucks, and all-terrain vehicles, and lightweight, composite Pentatonic battery systems for use in electric vehicles, from hybrid to full battery-powered.
Specialized Vehicles products are sold under the E-Z-GO, Arctic Cat, TUG Technologies, Douglas Equipment, Premier, Safeaero, Ransomes, Jacobsen and Cushman brands. These businesses have a diversified customer base that includes golf courses and resorts, government agencies and municipalities, consumers, outdoor enthusiasts, and commercial and industrial users such as factories, warehouses, airports, planned communities, hunting preserves, educational and corporate campuses, sporting venues, and landscaping professionals.
Key data
| (Dollars in millions) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Industrial | |||
| Revenues | 3,841 | 3,465 | 3,130 |
| Segment profit(1) | 228 | 155 | 120 |
| Segment profit margin | 5.9% | 4.5% | 3.8% |
| Total assets | 2,520 | 2,555 | 2,529 |
| Capital expenditures | 91 | 78 | 82 |
| Depreciation and amortization | 89 | 93 | 99 |
REVENUE DETAILS
| (In millions) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Fuel Systems and Functional Components | 1,954 | 1,771 | 1,735 |
| Specialized Vehicles | 1,887 | 1,694 | 1,395 |
| Total | 3,841 | 3,465 | 3,130 |
Segment profit is a non-GAAP measure as defined on page 17. See page 14 for reconciliation to GAAP.
MAJOR PRODUCTS
| Textron Specialized Vehicles | |
| Consumer | A wide range of powersports vehicles, including side-by-sides and ATVs under the Arctic Cat and Tracker Off Road brands, and personal transportation vehicles (PTVs) and lowspeed vehicles (LSVs) under the E-Z-GO brand. PTVs are modified E-Z-GO golf cars used primarily in planned communities and neighborhoods. |
| Commercial | Commercial utility vehicles used across industries including agriculture, construction, maintenance, manufacturing, and distribution facilities. Models range from commercial electric, gas, and diesel-powered side-by-sides to electrically powered industrial burden carriers and tuggers for indoor use. Vehicles are sold under the Cushman brand. |
| Golf | Golf car fleets, utility, and hospitality vehicles at golf courses and resorts worldwide. Golf cars are sold under the E-Z-GO brand and the utility and hospitality vehicles are sold under the Cushman brand. |
| Ground Support Equipment | Ground support equipment for airlines, cargo carriers, and airports worldwide. Product lines include towbarless and conventional aircraft pushbacks, deicing equipment, belt loaders, cargo and baggage tractors, and air-starts. Equipment is sold under the TUG Technologies, Douglas Equipment, Premier, and Safeaero brands and under the Textron Ground Support Equipment brand. |
| Turf | Professional mowing and turf care equipment for groundskeepers and municipal and institutional turf managers sold under the Jacobsen and Ransomes brands. |
| Snow | A variety of snowmobiles including trail, crossover, mountain, utility, touring, and youth sleds. All sleds are sold under the Arctic Cat brand. |
| Kautex | |
| Lightweight, all-plastic hybrid fuel tank | First to market in 2015, the all-plastic, lightweight pressurized fuel tank is suitable for hybrid applications. The tank is created using Kautex’s NGFS® twin sheet technology, adding patented stiffening elements to withstand the pressure/vacuum requirements needed for hybrid applications and eliminating the need for steel support. |
| Next Generation Fuel Systems (NGFS®) | NGFS® technology, also known as “twin sheet” technology, helps reduce emissions and weight while potentially increasing volume depending on tank design. NGFS® is produced by lowering two sheets of multi-layered parison through the extrusion head of the blow molding machine. The “twin sheet” design allows easy access for components to be integrated directly into the plastic shell, thus eliminating the need for cutting and welding and reducing emissions. |
| Conventional, co-extrusion fuel systems | A multi-layer extrusion process that includes a series of virgin layers of High Density Polyethylene Extrusion, regrind, and ethylene vinyl alcohol—the “barrier” layer that reduces the emission of hydrocarbons into the atmosphere. |
| Selective Catalytic Reduction (SCR) Systems | The Kautex SCR system helps eliminate nitrogen oxide (NOx) emissions from diesel fuel systems. The SCR system injects AdBlue®/DEF (Diesel Exhaust Fluid: urea/water solution) into the exhaust system, reducing the harmful NOx emission to water and nitrogen. SCR systems can reduce NOx by approximately 85% (98% less than EU 4/5) and reduce fuel consumption by 8%. |
| Windscreen, headlamp and camera cleaning systems/ solutions | Dirt from muddy roads, dust, frost, snow, and pollution can all affect the performance of the vehicle’s windshield, headlights or camera system(s). To help safeguard the full functionality of these components, Kautex Clear Vision Systems (CVS) has created solutions including washer fill & storage, washer fluid management and nozzles for headlights, windshields, camera and ADAS sensors. |
| Allegro ADAS sensor cleaning systems/ solutions | Autonomous driving vehicles require the usage of various cameras and sensors. These sensors need to be clean to ensure proper functionality of the related Advanced Driver Assistance Systems (ADAS). |
| Pentatonic Battery Systems | Enclosures, underbody protection and thermal management systems, for use in electric vehicles, from hybrid to full battery-powered. |