# PARKER HANNIFIN CORP

Summary updated: 2026-03-18T22:47:31.742142Z
Canonical: https://finbar.com/research/companies/parker-hannifin

## Overview

Parker-Hannifin Corp. is an industrial technology company focused on motion and control technologies, designing, manufacturing, and providing aftermarket support for highly engineered systems and components used across aerospace and defense, industrial equipment, transportation, off-highway, energy, and HVAC and refrigeration markets.[1](https://app.finbar.com/go?id=P-670d525f4d584c15b8ccbecc182155ff) Its portfolio spans hydraulics, pneumatics, electromechanical systems, filtration, fluid and gas handling, process control, engineered materials, and climate control.[2](https://app.finbar.com/go?id=P-30041854c30f43ffb9bb6271d8739071)

The company operates through two main segments, Diversified Industrial and Aerospace Systems: the former supplies a broad range of motion-control products to OEM and distribution channels, while the latter provides airframe and engine components and systems for commercial aerospace and defense customers.[3](https://app.finbar.com/go?id=P-f014f2a7267748078a87251434b514c5)[4](https://app.finbar.com/go?id=P-d3a4dd6a118c4e90bbfe59d024818418)[5](https://app.finbar.com/go?id=P-37f98b42ed144f56a2de0242a80d6b5c) Parker states its purpose as “Enabling Engineering Breakthroughs that Lead to a Better Tomorrow.”[6](https://app.finbar.com/go?id=P-187ab42bdae342eabc714aa56917a71f)

Parker has divisions operating in 43 countries and serves several hundred thousand OEM and distribution customer locations worldwide.[7](https://app.finbar.com/go?id=P-66083fd65b9e4124b854c3f98358c407)[8](https://app.finbar.com/go?id=P-7562b59e7c52481c8611b4a39cf6f220) In fiscal 2024, it generated $19.9 billion in net sales, with about 73% from Diversified Industrial and 27% from Aerospace Systems, and employed approximately 61,120 people, including about 30,300 at foreign subsidiaries.[3](https://app.finbar.com/go?id=P-f014f2a7267748078a87251434b514c5)[9](https://app.finbar.com/go?id=P-b7ea0b63a4bf40bc8d2fd60579a98543)
[1](https://app.finbar.com/go?id=P-670d525f4d584c15b8ccbecc182155ff)[2](https://app.finbar.com/go?id=P-30041854c30f43ffb9bb6271d8739071)[3](https://app.finbar.com/go?id=P-f014f2a7267748078a87251434b514c5)[4](https://app.finbar.com/go?id=P-d3a4dd6a118c4e90bbfe59d024818418)[5](https://app.finbar.com/go?id=P-37f98b42ed144f56a2de0242a80d6b5c)[6](https://app.finbar.com/go?id=P-187ab42bdae342eabc714aa56917a71f)[7](https://app.finbar.com/go?id=P-66083fd65b9e4124b854c3f98358c407)[8](https://app.finbar.com/go?id=P-7562b59e7c52481c8611b4a39cf6f220)[9](https://app.finbar.com/go?id=P-b7ea0b63a4bf40bc8d2fd60579a98543)

## Products & services

Parker Hannifin’s product portfolio is centered on motion and control components and systems, with hundreds of thousands of part numbers; no single product accounts for more than 1% of total net sales. The company’s disclosed core technologies include hydraulics, pneumatics, electromechanical systems, filtration, fluid and gas handling, process control, engineered materials, and climate control. It also provides aftermarket support, including replacement products, and in aerospace it generates follow-on repair and replacement business. [10](https://app.finbar.com/go?id=P-7ede3760d944422488a74a733da52298)[11](https://app.finbar.com/go?id=P-9e76b5e1116b44279e555d34f625dd56)[1](https://app.finbar.com/go?id=P-670d525f4d584c15b8ccbecc182155ff)[4](https://app.finbar.com/go?id=P-d3a4dd6a118c4e90bbfe59d024818418)[12](https://app.finbar.com/go?id=P-a5dfee15de0444a8a0fda1ad6b83f8a3)

In Diversified Industrial, Parker sells standard and custom products engineered for OEM applications and replacement demand. Named product lines include active and passive vibration control products; coatings; cryogenic valves and fittings; elastomeric, fabric reinforced, metal, and precision-cut seals; electric and hydraulic pumps and motors; electric and hydraulic valves; electromechanical and hydraulic actuators; electronics, drives and controllers; engine filtration solutions; fluid condition monitoring; fluid conveyance hose and tubing; high-pressure connectors, fittings, valves and regulators; high-purity fittings, valves and regulators; high-purity and high-temperature sealing; HVAC/R controls and monitoring; hydrogen and natural gas filters; industrial air and gas filtration; miniature pumps and valves; pneumatic actuators, regulators and valves; power take-offs; process filtration solutions; rubber-to-substrate adhesives; sensors and diagnostics; structural adhesives; and thermal management products. [13](https://app.finbar.com/go?id=T-39d4a27f01374570b7e043d0cfa13e54)[4](https://app.finbar.com/go?id=P-d3a4dd6a118c4e90bbfe59d024818418)

In Aerospace Systems, Parker supplies highly engineered airframe and engine components and systems to OEMs and end users. Disclosed product families include avionics; electric and hydraulic braking systems; electric power systems; electromechanical actuators; engine exhaust systems and components; fire detection and suppression systems; flight control systems; fluid conveyance products; fuel systems and components; fuel tank inerting systems; hydraulic pumps and motors; hydraulic valves and actuators; pneumatics; seals; sensors; and thermal management systems. By reported sales mix, Diversified Industrial represented 73% of FY2024 net sales and Aerospace Systems represented 27%. [14](https://app.finbar.com/go?id=T-1980f2f22f214b24b479c2943e6e6815)[15](https://app.finbar.com/go?id=P-0e5a879d44524c2d825906739b4845f4)[16](https://app.finbar.com/go?id=P-ff47fe77fdf24ca4a561749ac06bb241)[3](https://app.finbar.com/go?id=P-f014f2a7267748078a87251434b514c5)
[10](https://app.finbar.com/go?id=P-7ede3760d944422488a74a733da52298)[11](https://app.finbar.com/go?id=P-9e76b5e1116b44279e555d34f625dd56)[1](https://app.finbar.com/go?id=P-670d525f4d584c15b8ccbecc182155ff)[4](https://app.finbar.com/go?id=P-d3a4dd6a118c4e90bbfe59d024818418)[12](https://app.finbar.com/go?id=P-a5dfee15de0444a8a0fda1ad6b83f8a3)[13](https://app.finbar.com/go?id=T-39d4a27f01374570b7e043d0cfa13e54)[14](https://app.finbar.com/go?id=T-1980f2f22f214b24b479c2943e6e6815)[15](https://app.finbar.com/go?id=P-0e5a879d44524c2d825906739b4845f4)[16](https://app.finbar.com/go?id=P-ff47fe77fdf24ca4a561749ac06bb241)[3](https://app.finbar.com/go?id=P-f014f2a7267748078a87251434b514c5)

## Geographic presence

Parker Hannifin’s sales base is concentrated in North America. In fiscal 2024, revenue by the location of the selling operation was $13.5 billion in North America (67.8% of total), $3.9 billion in Europe (19.6%), $2.3 billion in Asia Pacific (11.4%), and $224 million in Latin America (1.1%). The mix was similarly North America-heavy in fiscal 2023 and 2022, when North America represented 66.6% and 64.4% of sales, respectively. For this disclosure, North America includes the United States, Canada and Mexico, and no country other than the United States accounted for more than 10% of consolidated sales.[17](https://app.finbar.com/go?id=T-74d35c4fd3524de897e6716f7f8d8426)[18](https://app.finbar.com/go?id=P-1c2546631cb44ce4a826fa3c1d945c6a)

Operationally, Parker Hannifin is headquartered in Cleveland, Ohio, with its principal executive offices at 6035 Parkland Boulevard, Cleveland, Ohio 44124-4141.[19](https://app.finbar.com/go?id=P-2310f64559654ae683c5cd63f41605bd)[20](https://app.finbar.com/go?id=P-192957b1a36b4c6db93d1d7f0fc62429) As of June 30, 2024, the company maintained approximately 335 manufacturing plants, along with sales and administrative offices and distribution centers throughout the world; these facilities were located in 36 U.S. states and 42 other countries.[19](https://app.finbar.com/go?id=P-2310f64559654ae683c5cd63f41605bd) Parker also stated that it sells through divisions operating in 43 countries.[7](https://app.finbar.com/go?id=P-66083fd65b9e4124b854c3f98358c407)

Its workforce is also broadly international. As of June 30, 2024, Parker Hannifin employed approximately 61,120 people, of whom about 30,300 were employed by foreign subsidiaries, indicating that close to half of total employees were outside the United States.[9](https://app.finbar.com/go?id=P-b7ea0b63a4bf40bc8d2fd60579a98543)
[17](https://app.finbar.com/go?id=T-74d35c4fd3524de897e6716f7f8d8426)[18](https://app.finbar.com/go?id=P-1c2546631cb44ce4a826fa3c1d945c6a)[19](https://app.finbar.com/go?id=P-2310f64559654ae683c5cd63f41605bd)[20](https://app.finbar.com/go?id=P-192957b1a36b4c6db93d1d7f0fc62429)[7](https://app.finbar.com/go?id=P-66083fd65b9e4124b854c3f98358c407)[9](https://app.finbar.com/go?id=P-b7ea0b63a4bf40bc8d2fd60579a98543)

## Business segments

Parker Hannifin reports two official segments: Diversified Industrial and Aerospace Systems. In fiscal 2024, Diversified Industrial accounted for about 73% of company net sales and Aerospace Systems for about 27%. [21](https://app.finbar.com/go?id=P-80f70ce1aab643ca93375b3787c683f8)

Diversified Industrial is an aggregation of several business units that sells highly engineered products to OEMs and distributors serving aftermarket replacement markets. Its major focus areas are aerospace & defense, in-plant & industrial equipment, transportation, off-highway, energy, and HVAC & refrigeration. [3](https://app.finbar.com/go?id=P-f014f2a7267748078a87251434b514c5)[22](https://app.finbar.com/go?id=T-785ed2ad50ed43eb8bb14ec9642a647f)

Aerospace Systems sells highly engineered airframe and engine components and systems to OEMs, and also provides aftermarket parts and maintenance directly to end users, primarily in commercial aerospace and defense. Its major market platforms are commercial transport, defense fixed wing, business jets, regional transport, helicopters, and energy. [15](https://app.finbar.com/go?id=P-0e5a879d44524c2d825906739b4845f4)[23](https://app.finbar.com/go?id=T-794a0de1426248acac7dd3f72e8b5e85)

Parker also provides an internal split within Diversified Industrial between North America businesses and International businesses. In fiscal 2024, those subgroups generated about $8.8 billion and $5.7 billion of sales, respectively, implying an approximate 61%/39% split of Diversified Industrial segment sales. [24](https://app.finbar.com/go?id=T-0ccb88d0c3f245a0aca677e6ff935992)
[21](https://app.finbar.com/go?id=P-80f70ce1aab643ca93375b3787c683f8)[3](https://app.finbar.com/go?id=P-f014f2a7267748078a87251434b514c5)[22](https://app.finbar.com/go?id=T-785ed2ad50ed43eb8bb14ec9642a647f)[15](https://app.finbar.com/go?id=P-0e5a879d44524c2d825906739b4845f4)[23](https://app.finbar.com/go?id=T-794a0de1426248acac7dd3f72e8b5e85)[24](https://app.finbar.com/go?id=T-0ccb88d0c3f245a0aca677e6ff935992)

## Company history

Parker Hannifin traces its origins to March 13, 1917, when Arthur L. Parker and Carl Klamm founded Parker Appliance Company in Cleveland; the early business made pneumatic brake systems and leak-free fittings for aviation.[25](https://www.parker.com/portal/site/PARKER/menuitem.c4407cd0fdcd0887697438c44256d1ca/?vgnextoid=e12e4818b6676610VgnVCM100000e6651dacRCRD&vgnextchannel=35cacab60275e210VgnVCM10000048021dacRCRD&vgnextfmt=EN&vgnextcat=History)[26](https://investors.parker.com/news-events/press-releases/detail/163/parker-hannifin-celebrates-100-years) The company was incorporated in Ohio in 1938.[27](https://app.finbar.com/go?id=P-25a665ec597f4c44bbca49d36fb16443) In 1957, Parker Appliance acquired Hannifin Corporation, and in 1959 the combined business took the Parker Hannifin name.[28](https://www.linkedin.com/posts/parker-hannifin_wciiwjpg-activity-6292019818539343872-sXZ5)

Another milestone came in 1964, when Parker stock first began trading on the New York Stock Exchange.[29](https://investors.parker.com/company-information/faq)[30](https://investors.parker.com/news-events/press-releases/detail/219/parker-hannifin-to-ring-closing-bell-commemorating-50-years) In 2015, Thomas L. Williams succeeded Donald E. Washkewicz as chief executive officer, and he was elected chairman effective at the start of 2016.[31](https://investors.parker.com/news-events/press-releases/detail/208/parker-elects-tom-williams-as-chief-executive-officer-and)[32](https://investors.parker.com/news-events/press-releases/detail/195/parker-hannifin-elects-thomas-l-williams-to-serve-as) Parker later reshaped its portfolio through major acquisitions including CLARCOR in 2017, LORD Corporation in 2019, and Meggitt plc in 2022.[33](https://investors.parker.com/news-events/press-releases/detail/165/parker-hannifin-completes-clarcor-acquisition)[34](https://app.finbar.com/go?id=P-81823338d9b74e3fb69d8912cc9d6f38)[35](https://app.finbar.com/go?id=P-3d1e6d87115c410bb70cfd6acf6ca274)
[27](https://app.finbar.com/go?id=P-25a665ec597f4c44bbca49d36fb16443)[34](https://app.finbar.com/go?id=P-81823338d9b74e3fb69d8912cc9d6f38)[35](https://app.finbar.com/go?id=P-3d1e6d87115c410bb70cfd6acf6ca274)[25](https://www.parker.com/portal/site/PARKER/menuitem.c4407cd0fdcd0887697438c44256d1ca/?vgnextoid=e12e4818b6676610VgnVCM100000e6651dacRCRD&vgnextchannel=35cacab60275e210VgnVCM10000048021dacRCRD&vgnextfmt=EN&vgnextcat=History)[26](https://investors.parker.com/news-events/press-releases/detail/163/parker-hannifin-celebrates-100-years)[28](https://www.linkedin.com/posts/parker-hannifin_wciiwjpg-activity-6292019818539343872-sXZ5)[29](https://investors.parker.com/company-information/faq)[30](https://investors.parker.com/news-events/press-releases/detail/219/parker-hannifin-to-ring-closing-bell-commemorating-50-years)[31](https://investors.parker.com/news-events/press-releases/detail/208/parker-elects-tom-williams-as-chief-executive-officer-and)[32](https://investors.parker.com/news-events/press-releases/detail/195/parker-hannifin-elects-thomas-l-williams-to-serve-as)[33](https://investors.parker.com/news-events/press-releases/detail/165/parker-hannifin-completes-clarcor-acquisition)

## Sources

1. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-670d525f4d584c15b8ccbecc182155ff)
2. [PARKER HANNIFIN CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P-30041854c30f43ffb9bb6271d8739071)
3. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-f014f2a7267748078a87251434b514c5)
4. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-d3a4dd6a118c4e90bbfe59d024818418)
5. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-37f98b42ed144f56a2de0242a80d6b5c)
6. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-187ab42bdae342eabc714aa56917a71f)
7. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-66083fd65b9e4124b854c3f98358c407)
8. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-7562b59e7c52481c8611b4a39cf6f220)
9. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-b7ea0b63a4bf40bc8d2fd60579a98543)
10. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-7ede3760d944422488a74a733da52298)
11. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-9e76b5e1116b44279e555d34f625dd56)
12. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-a5dfee15de0444a8a0fda1ad6b83f8a3)
13. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-39d4a27f01374570b7e043d0cfa13e54)
14. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-1980f2f22f214b24b479c2943e6e6815)
15. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-0e5a879d44524c2d825906739b4845f4)
16. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-ff47fe77fdf24ca4a561749ac06bb241)
17. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-74d35c4fd3524de897e6716f7f8d8426)
18. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-1c2546631cb44ce4a826fa3c1d945c6a)
19. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-2310f64559654ae683c5cd63f41605bd)
20. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-192957b1a36b4c6db93d1d7f0fc62429)
21. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-80f70ce1aab643ca93375b3787c683f8)
22. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-785ed2ad50ed43eb8bb14ec9642a647f)
23. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-794a0de1426248acac7dd3f72e8b5e85)
24. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-0ccb88d0c3f245a0aca677e6ff935992)
25. [www.parker.com](https://www.parker.com/portal/site/PARKER/menuitem.c4407cd0fdcd0887697438c44256d1ca/?vgnextoid=e12e4818b6676610VgnVCM100000e6651dacRCRD&vgnextchannel=35cacab60275e210VgnVCM10000048021dacRCRD&vgnextfmt=EN&vgnextcat=History)
26. [investors.parker.com](https://investors.parker.com/news-events/press-releases/detail/163/parker-hannifin-celebrates-100-years)
27. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-25a665ec597f4c44bbca49d36fb16443)
28. [www.linkedin.com](https://www.linkedin.com/posts/parker-hannifin_wciiwjpg-activity-6292019818539343872-sXZ5)
29. [investors.parker.com](https://investors.parker.com/company-information/faq)
30. [investors.parker.com](https://investors.parker.com/news-events/press-releases/detail/219/parker-hannifin-to-ring-closing-bell-commemorating-50-years)
31. [investors.parker.com](https://investors.parker.com/news-events/press-releases/detail/208/parker-elects-tom-williams-as-chief-executive-officer-and)
32. [investors.parker.com](https://investors.parker.com/news-events/press-releases/detail/195/parker-hannifin-elects-thomas-l-williams-to-serve-as)
33. [investors.parker.com](https://investors.parker.com/news-events/press-releases/detail/165/parker-hannifin-completes-clarcor-acquisition)
34. [PARKER HANNIFIN CORP — Press release (2020 Q 1)](https://app.finbar.com/go?id=P-81823338d9b74e3fb69d8912cc9d6f38)
35. [PARKER HANNIFIN CORP — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-3d1e6d87115c410bb70cfd6acf6ca274)

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