2020 has not been kind to aviation manufacturer Spirit AeroSystems. The continued grounding of the Boeing 737 Max — the company's most important program — was compounded by a near shutdown of commercial air traffic because of the pandemic. That has resulted in thousands of layoffs at Spirit since January, along with furloughs and pay cuts.
Despite the drumbeat of bad news, Spirit has consistently remained optimistic when discussing one topic: its defense programs.
Spirit says about 15% of its revenue comes from defense work. It wants to grow that number to 40%.