Parker Hannifin

Parker Hannifin Corporation
Public
Traded as NYSE: PH
S&P 500 Component
Industry Motion and Control Technologies
Founded 1918, Cleveland, Ohio, USA
Founder Arthur L. Parker
Headquarters Mayfield Heights, Ohio, United States
Number of locations
 341 Manufacturing Sites
Area served
 Worldwide
Key people
 Thomas L. Williams (CEO),
Lee C. Banks (President & COO),
Donald E. Washkewicz (Chairman)
Revenue Increase US$13.2 billion (2014)[1]
Decrease US$1.33 billion (2014)[1]
Increase US$1.04 billion (2014)[1]
Total assets Increase US$13.27 billion (2014)[1]
Total equity Increase US$6.66 billion (2014)[1]
Number of employees
 57,447
Website www.parker.com

Parker Hannifin Corporation, originally Parker Appliance Company, usually referred to as just Parker, is an American corporation specializing in motion and control technologies. Its corporate headquarters are in Mayfield Heights, Ohio, in Greater Cleveland (with a Cleveland mailing address).[2][3] The company was founded in 1918, and has been publicly traded on the NYSE since December 9, 1964. Parker Hannifin is one of the largest companies in the world in motion control technologies, including aerospace, climate control, electromechanical, filtration, fluid and gas handling, hydraulics, pneumatics, process control, and sealing and shielding. Parker employs about 58,000 people globally.

In 2016 the company was ranked 230 in the Fortune 500.[4]

Business groups

Parker is divided into seven operating groups with service to 55 countries on six continents.

History

Milestones:

Aerospace group

Parker Aerospace is a global leader in hydraulic, fuel, flight control, pneumatic, electronics cooling, and fluid conveyance components and systems and related electronic controls for aerospace and other high-technology markets. Its products are used on aircraft manufactured throughout the world today, including commercial transports, military fixed-wing planes, regional and business aircraft, helicopters, missiles, and unmanned aerial vehicles. Based in Irvine, California, Parker Aerospace operates 39 facilities in the Americas, Europe, and Asia. The latest programs include the COMAC C919, Rolls-Royce Trent XWB engine, Bombardier CSeries and Global 7000/8000, Embraer Legacy 500/450, Mitsubishi Regional Jet, Gulfstream G650, Model 850 Citation Columbus, and Airbus A350 XWB.

Greener aircraft and reduced emissions

Parker Aerospace is a longtime Airbus supplier, with special competencies in multifunctional system integration. Parker is partnering with Airbus to develop fuel cell technology as an alternative energy source for on-ground and in-flight electrical power supply. Within this partnership, Airbus will be responsible for the overall aircraft system architecture and technology integration into the aircraft, and Parker will supply the multifunctional fuel cell system and manage different subsystem suppliers. A fuel cell is a device which transforms the energy contained in hydrogen and oxygen into electricity through a direct chemical conversion at a low temperature without moving parts. The exhaust product is water, and in the case of an air-breathing system, oxygen-depleted air. The electricity produced by fuel cells can be cleaner and more efficient than combustion engines, depending on the hydrogen source. In addition, the water and the oxygen-depleted air (inert gas) can be used on the airplane to substitute the water and inerting systems.

The objective of the cooperation is the development of a technology demonstrator followed by a joint flight test campaign for the middle of the decade, including operational and infrastructural tests. With Parker Aerospace involved in the project from this earliest phase, industrialization can be considered throughout the development of the process, rather than at the end. Airbus considers fuel cell technology as a key contributor to meeting the ACARE 2020 goals, which foresee the reduction of CO2 emissions by 50%, NOX emissions by 80%, and noise by 50%.

Boeing 737 incidents

In 1995, it was discovered that failures in a servo unit supplied by Parker Hannifin to Boeing for use in their 737 aircraft may have contributed to several incidents, including that of United Airlines Flight 585 and USAir Flight 427.[6][7]

In 2004, a Los Angeles jury ordered Parker Hannifin to pay US$43 million to the plaintiff families of the 1997 SilkAir Flight 185 crash in Indonesia. Parker Hannifin subsequently appealed the verdict, which resulted in an out-of-court settlement for an undisclosed amount. The National Transportation Safety Committee could not determine the cause of the crash due to the near total lack of physical evidence and complete destruction,[8] this in contrast to the US National Transportation Safety Board, however, which disagreed and determined that the crash was caused, possibly intentionally, by the pilot.[9][10]

The FAA ordered an upgrade of all Boeing 737 rudder control systems by November 12, 2002. Parker argued that the components they supplied were not at fault, citing that the product has one of the safest records in its class, but the FAA directive went through regardless.[11]

F-35

On 18 January 2013, the F-35B variant of the Lockheed Martin F-35 Lightning II was grounded after the failure of a fueldraulic line in the aircraft's propulsion system that controls the exhaust vectoring system. This was in response to an incident on 16 January where the propulsion system experienced a fueldraulic failure prior to a conventional takeoff. The precautionary flight suspension is to preserve safety while providing time to understand the origin of the failure of the propulsion fueldraulic line.[12] The failure was found to be a manufacturing defect by Parker Hannifin's Stratoflex division.[13][14]

References

  1. 1 2 3 4 5 "Parker Hannifin 2014 Annual Report". Parker Hannifin.
  2. ↑ "CERTIFICATE OF PROPERTY INSURANCE." Parker Hannifin. March 28, 2012. Retrieved on December 25, 2012. "Parker Hannifin Corporation 6035 Parkland Blvd Cleveland OH 44124-4141 USA"
  3. ↑ "2010 CENSUS - CENSUS BLOCK MAP: Mayfield Heights city, OH." (Archive) U.S. Census Bureau. Retrieved on December 25, 2012.
  4. ↑ "Fortune 500". Fortune. Retrieved 2016-03-22.
  5. ↑ Parker Decades History Video, http://video.parker.com/Parker_Videos/Corporate/ParkerHistory/EN/index.html
  6. ↑ Robert J. Boser. "What is the status of the solution to the B-737 rudder design defect?". airlinesafety.com. Retrieved 2008-11-18.
  7. ↑ "Pittsburgh disaster adds to 737 doubts". Seattle Times. 1996. Retrieved 2008-11-17.
  8. ↑ Valerie Chew (September 30, 2009). "Crash of SilkAir Flight MI 185". National Library Board. Retrieved May 26, 2012.
  9. ↑ SilkAir 185 - Pilot Suicide? (Documentary). National Geographic. 2007.
  10. ↑ "Remembering the Musi – SilkAir Flight MI 185 Crash Victim Identification" (PDF). Annals Academy of Medicine 36 (10): 866. 2007.
  11. ↑ "Airworthiness Directives; Boeing Model 737 Series Airplanes" (PDF). FAA. Retrieved 2008-11-17.
  12. ↑ F-35B grounded after fueldraulic line failure - Flightglobal.com, January 18, 2013
  13. ↑ "Engineers discover culprit behind F-35B fueldraulic line failure."
  14. ↑ "Stratoflex - Parker."

External links

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