By TTA Blog
Entrepreneurial Approach and Solid Financial Plan Deliver Growth, Innovation, and Achievements Heading into 2023
On December 15, 2022, Thrust Tech Accessories (TTA), an FAA 145 and EASA Certified repair station provider of MRO services in Fort Lauderdale, Fla., celebrates its five-year anniversary under new ownership and management – building on its 37-year history of aviation MRO (maintenance, repair, and overhaul) experience.
“It’s the best of both worlds – combining our entrepreneurial spirit, innovation, growth focus, and strong financial performance with more than three decades of aviation heritage and MRO (maintenance, repair, and overhaul) experience,” says Stanley Kowlessar, TTA’s president and general manager. “Despite some continuing global supply chain issues and economic and aviation marketplace challenges as we look to 2023, we see a bright future for TTA.”
That’s because market opportunities continue at a strong pace. Business jet usage in 2022 is estimated to be 9 percent higher than a year ago, while the Global Business Aviation Outlook projects $274 billion in new business jet deliveries over the next decade. The global regional aircraft leasing market is also expected to rise at a considerable rate between 2022 and 2028.
Tipping his hat to the company’s team, Kowlessar said: “We’re deeply grateful to all our team members, who day after day, deliver a high level of service. That keeps our customers returning repeatedly, and I’m deeply grateful.
Five years ago, Kowlessar, who had been in a senior management role at the MRO, recognized TTA’s “good foundation” and desired to put his own spin on the company. So, he bought it on December 15, 2017, and “rebooted” the company from the ground up. Most notably, TTA’s management approach was shifted to a quick pivoting, yet measured, entrepreneurial style.
In the subsequent years, he’s forged a new direction for TTA – enhancing customer satisfaction and creating an outstanding workplace for his team. Among TTA’s achievements are these:
New Team Approach: TTA instituted a team approach to maximize use of team members expertise by tapping into their skills sets, problem solving skills and creative solutions.
Solid Growth Plan: From the outset of the acquisition, TTA’s new management team implemented a strong growth plan. For instance, the number of engineers working for the MRO doubled within five years. During the worst of the pandemic, TTA hired new managers, aviation specialists, and technicians – investing in its workforce.
New Innovative Technology: TTA created innovative technology – software and IT systems – to improve its work processes and significantly boost workplace engagement.
Much Larger Parts Inventory: TTA significantly increased its parts inventory, a business tactic that allowed TTA to respond more quicky to client needs and keep revenue flowing, even during the toughest times of the pandemic when supply chain challenges were rampant. In turn, TTA secured many new customers.
Significant Capital Investments: Kowlessar and his executive team made significant capital investments for equipment, technology, and improvements to TTA’s Fort Lauderdale facility. The most recent capital investments were in the latest technology for measuring and inspecting equipment to reduce Turn Around Time (TAT) and development of new PMAs for the market. Instead of sending items out to a lab for high-precision measurements and analysis, which could take up to six weeks, TTA now has in-house capabilities – cutting the time to only a day or two. In just less than five years under new ownership and management, TTA has made significant capital retro fit of the entire facility with all new modern testing equipment that will take us into the future.
Expanded Customer Options: TTA has increased its customer offerings for aviation maintenance repairs and services including PMAs and multiple new DER solutions. Recently, the company received approval from the U.S. Federal Aviation Administration (FAA) to support specific overhaul requirements for the motors needed on stabilizer actuators for various Learjet airframes. This is a game changer for TTA with new revenue stream and increased customers.
Enhanced PR and Marketing: To continue to build its marketplace presence and attract new customers from across the globe, TTA beefed up its public relations and marketing efforts. It’s also fielded an enhanced company web site and social media presence which has paid dividends..
As a result of the above steps and more, TTA saw great overall growth during the first two years after the sale. “And today, our business is booming, we’re on a solid growth path, our customer base has expanded, and we’re developing new, innovative MRO solutions that will assist our customers and combat supply chain challenges,” emphasizes Kowlessar.
To those loyal customers, he says this: “We couldn’t have achieved the success of the past five years without you – our business clients, partners, and friends. In the new year, we’ll continue to strive for excellence in all aviation MRO work we undertake. We know that keeping your aircraft in the air is critical to your business success. Thank you for trusting us to deliver the innovative MRO solutions that can help do just that.”
Resilience, creativity, innovation, and agility are all key corporate attributes that define TTA, Kowlessar adds. “The company’s prime goal is to keep moving forward – to be on the ‘leading edge’ of MRO services and solutions. And no matter whatever the headwinds in the year ahead, TTA is ready to serve its customers as they plot the best route through their next commercial, business, or private aviation chapter.”
