Albany International Corp /De/ (NYSE: AIN)

Albany International Corp is a global leader in advanced textiles and materials processing, specializing in high-performance engineered fabrics and composite components for industries such as paper, industrial manufacturing, and aerospace. With a history dating back to 1895, the company designs and manufactures custom solutions that enhance efficiency, durability, and performance in demanding applications. Its expertise spans consumable industrial fabrics and cutting-edge composite materials, positioning it as a critical supplier to some of the world’s most technologically intensive sectors.

The company generates revenue primarily through the sale of specialized engineered products. In its Machine Clothing segment, Albany supplies consumable fabrics and belts essential for paper production, nonwovens, and other industrial processes, which are customized for each customer’s machinery and operational needs. The Albany Engineered Composites segment derives income from the production of advanced composite components for aerospace and defense applications, including fan blades, structural parts, and thermal protection systems. Revenue is also generated through long-term supply contracts, government contracts, and customer-funded research and development initiatives.

The company operates through the following segments:

• Machine Clothing: This segment is the world’s leading producer of custom-designed fabrics and high-speed process belts used in paper manufacturing, including forming, pressing, and drying fabrics. It also supplies engineered fabrics for nonwovens, fiber cement, and other industrial applications, with products tailored to improve production efficiency and reduce operational costs. The segment’s offerings are consumable, ensuring recurring demand from customers across global markets.

• Albany Engineered Composites: This segment manufactures highly engineered composite components for aerospace, defense, and space applications, leveraging proprietary 3D-woven technology to produce lightweight, high-strength parts. Key products include fan blades and cases for commercial aircraft engines, structural components for military aircraft and missiles, and thermal protection systems for hypersonic applications. The segment serves major aerospace original equipment manufacturers and defense contractors under long-term supply agreements.

Albany International Corp holds a dominant position in its core markets, underpinned by technological innovation and deep industry expertise. In the Machine Clothing segment, the company is the global leader, competing on the basis of product performance, customization, and energy efficiency. Its competitive advantage lies in its ability to design fabrics that reduce energy consumption and improve resource efficiency for paper manufacturers, a critical factor in an industry facing sustainability pressures. In the aerospace composites market, Albany differentiates itself through its proprietary 3D-woven technology, which enables the production of components with superior strength-to-weight ratios compared to traditional metals and laminated composites. Key competitors include other advanced materials and textile manufacturers, though Albany’s long-standing customer relationships and specialized R&D capabilities provide a strong moat.

The company’s customer base is diverse and globally distributed. In the Machine Clothing segment, Albany serves paper manufacturers, nonwovens producers, and industrial fabric users, with no single customer accounting for more than 10% of segment revenue. The Albany Engineered Composites segment’s largest customer is SAFRAN, which accounted for approximately 15% of consolidated net revenues in 2025. Other significant customers include aerospace and defense contractors such as Boeing, Lockheed Martin, and the U. S. government, as well as commercial aircraft programs like the Airbus A320neo, Boeing 737 MAX, and COMAC C919. The segment also supplies components for military platforms, including the F-35 fighter jet and CH-53K helicopter.