TransDigm (TDG) 8-K The following information contains forward-looking statements within the meaning of the Private

Analyst Day

July 1, 2008

Exhibit 99.1

1

The following information contains forward-looking statements within the meaning of the Private

Securities Litigation Reform Act of 1995. These forward-looking statements are based on

management’s current expectations and beliefs, as well as a number of assumptions concerning

future events. These statements are subject to risks, uncertainties, assumptions and other

important factors. You are cautioned not to put undue reliance on such forward-looking

statements

because

actual

results

may

vary

materially

from

those

expressed

or

implied.

The

reports

filed

by

TransDigm

Group

Incorporated

pursuant

to

United

States

securities

laws

contain

discussions of some of these risks and uncertainties. TransDigm

Group Incorporated assumes no

obligation

to,

and

expressly

disclaims

any

obligation

to,

update

or

revise

any

forward-looking

statements, whether as a result of new information, future events or otherwise. You are advised

to review our filings with the United States Securities and Exchange Commission.

Forward Looking Statements

2

Welcome

Sean Maroney

TDG Overview

Nick Howley

Management

Ray Laubenthal

Process

Operating Units

Bob Henderson

M&A

Al Rodriguez

Financial Information

Greg Rufus

Q&A

Agenda

TDG Overview

W. Nicholas Howley

4

Proven track record

Managed the business

through multiple cycles

Experience with a leveraged

capital structure

Deep bench

Collectively owns significant

equity

Experienced Operations with Proven Track Record

W. Nicholas Howley

Chairman & CEO

1993

Gregory Rufus

Executive VP – CFO

2000

Raymond F. Laubenthal

President & COO

1993

Robert S. Henderson

Executive VP – President

AdelWiggins Group

1994

Albert J. Rodriguez

Executive VP – Mergers &

Acquisitions

1993

James Riley

President, AeroControlex

Group

1994

EXECUTIVE

TITLE

YEAR HIRED

5

TransDigm

Overview

Highly engineered aerospace

components

Proprietary and sole source products

Significant aftermarket content

High free cash flow

(1)

Midpoint of May 6, 2008 guidance (excluding CEF Industries)

(2)

EBITDA As Defined represents EBITDA plus acquisition related costs, non-cash compensation and

deferred compensation costs, public offering costs and other non-cash expenses.

($ in millions)

BUSINESS

DISTINGUISHING

CHARACTERISTICS

9/30/08 E

Revenue:

$705

EBITDA As

Defined

(2)

:

$329

EBITDA As

Defined

Margin:

46%

Formed:

1993

(1)

6

Batteries

Pumps

Transducers

Controls/Actuators

Main Bus Voltage

Harmonic Filter

Ignition Systems

Highly Engineered Niche Products

Rudder Isolation

Valves

Inverters

7

Fluid Products

Cockpit Security Systems

Engineered Connectors

Bin Latches

Cockpit LCD Display

Highly Engineered Niche Products

Motors

Flight Deck Audio

Controls & Systems

Linear Actuator

8

Investment Highlights

Favorable industry  

dynamics

Niche market positions

High margin aftermarket

Diverse mix

Experienced

management team

Demonstrated value

generation

Proven acquisition /

integration

Market growth

New business

Acquisitions

Value pricing

Productivity

Consistent Growth and Value Creation

ATTRACTIVE

MARKET

POSITION

PROVEN

OPERATING

STRATEGY

MULTIPLE

GROWTH

PATHS

9

Proven Record of Growth and Margin Expansion

($ in millions)

% of Sales      20%       19%       23%      27%      31%      39%      39%      36%     36%      39%      42%      46%      44%

45%      46%      46%

(1)

EBITDA As Defined is a non-GAAP financial measure presented here as supplemental disclosures to net income.  For a presentation

of the most directly comparable GAAP measure and a reconciliation of EBITDA As Defined, please see appendix.

(2)

Midpoint of May 6, 2008 guidance (excluding CEF Industries)

(2)

$48

$10

$52

$10

$57

$13

$63

$17

$78

$25

$111

$44

$131

$51

$151

$54

$201

$72

$249

$98

$293

$124

$301

$139

$374

$164

$435

$194

$593

$275

$705

$329

'93

'94

'95

'96

'97

'98

'99

'00

'01

'02

'03

'04

'05

'06

'07

'08E

Revenue

EBITDA As Defined

(1)

10

11

Why Did we Perform Thru 9/11?

I.

3 Value

Drivers

1.  Cost Reduction

10% / 15% Reduction within 45 days

2.  Pricing

3.  New Business

Cockpit security

II.

Acquisitions

1.

Honeywell

pump

&

Champion

–

2001

III.

Military

12

Source:  Air Transport Association, Airline Monitor.

WORLDWIDE REVENUE PASSENGER MILES

(billions of miles)

Steady Growth in Passenger Traffic Drives Stable

Aftermarket Sales . . .

13

North

America

Europe

Asia

World

Analyst # 1

-2%

1%

6%

2%

Analyst # 2

-

4%

-1%

7%

1%

Analyst # 3

0%

Average

-3%

0%

7%

1%

Recent Analyst Forecast

2009 RPM Growth

First half of FY 2009 down more

TDG modestly Boeing weighted

Potential over reactions by A/L

14

. . . Despite Market Disruptions

14

25 Domestic

25 Domestic

Bankruptcies

Bankruptcies

US Airways

US Airways

Delta Air Lines

Delta Air Lines

Northwest Airlines

Northwest Airlines

Aloha Airlines

Aloha Airlines

Southeast Airlines

Southeast Airlines

15

0

250

500

750

1,000

1,250

1,500

'96

'98

'00

'02

'04

'06

'08E

'10E

…with a Positive Outlook for OEM Production

COMMERCIAL TRANSPORTS

Source:  Wall Street Research / Airline Monitor / Management estimates.

REGIONAL & BUSINESS JETS

0

250

500

750

1,000

1,250

1,500

'96

'98

'00

'02

'04

'06

'08E

'10E

Regional Jet

Business Jet

(units delivered)

(units delivered)

16

Stable Outlook for Military Spending

$165.3

$174.4

$180.6

$184.4

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

$200

'08

'09

'10

'11

O&M BUDGET

($ in billions)

Source: National Defense Budget Estimates for FY 2008

17

Significant Barriers to Entry

Selection / Qualification

Process

FAA Certification

Niche Markets

Risk / Reward Trade-Off

18

Recurring Stream of Profitable Aftermarket Revenue

5

10

15

20

25

30

35

40

45

50

55

60

65

70

Profitability / % of Sales

Airframe Program Life Cycle (Years)

Aftermarket

OE Production

Other Aftmkt

1%

Comm

Aerospace

OEM

29%

Def Aerospace

Aftmkt

15%

Other OEM

2%

Def Aerospace

OEM

9%

Comm

Aerospace

Aftmkt

44%

19

Aftermarket

OEM

Strong Focus on High-Margin Aftermarket

NET SALES

EBITDA

Based on management estimates for the fiscal year ended 9/30/07.

Approximately

60%

of

pro

forma

net

sales

and

a

much

higher

percentage

of

EBITDA

are

from

the

stable,

high-margin

aftermarket.

Sole Source

80%

Non-Sole

Source 20%

20

Significant Proprietary and Sole Source Revenue Base

Proprietary 95%

Non-Proprietary

5%

Proprietary

Proprietary

and

and

sole

sole

source

source

products

products

represent

represent

a

a

significant

significant

barrier

barrier

to

to

entry

entry

and

and

a

a

stable,

stable,

recurring

recurring

revenue

revenue

stream.

stream.

PROPRIETARY SALES

SOLE SOURCE SALES

Based on management estimates of pro forma sales for the fiscal year ended 9/30/07.

21

Strong Positions on Diverse and Growing Platforms

TOP 15 PLATFORMS

B737

A320

B747

B777

CRJ Family

B767

A330/A340

Cessna Citation Series

Gulfstream Series

Learjet Series

F-18

Embraer

RJ Family

Challenger Family

B757

Apache Helicopter

28%

sales

15%

sales

8%

sales

Based on management estimates of pro forma sales for the fiscal year ended 9/30/07.

22

DC9/MD80

737 Classics

727

747 Classics

* Based on management estimates of pro forma sales for the fiscal year ended 9/30/07.

Modest Exposure to Old Platforms

3% Revenue *

1.5% Revenue *

23

Proven Operating Strategy

Profitable new business

Productivity and cost

improvement

Value-based pricing

3 Value Drivers

24

Proven Record of Acquisition & Integration

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

Adams Rite Aerospace

Christie

Champion

Honeywell Lube Pump

Fuelcom

Norco

Adel

Aeroproducts

Wiggins

Controlex

Marathon

Avionic

Instruments

Skurka

Fluid

Regulators

Eaton Motor

Products

2006

2007

Sweeney

Electra-Motion

CDA InterCorp.

Avtech

ADS/Transicoil

Bruce

CEF

Management has acquired 22 businesses since 1993,

Management has acquired 22 businesses since 1993,

including five since October 2006.

including five since October 2006.

2008

Management Process

Raymond F. Laubenthal

26

Organizational Philosophy

Corporate

Control

Local

Autonomy

Economy

of Scale

Mgmt

Resources

Value Generation Strategy

Structure

Execution

Motivation

Central

Control

Local

Autonomy

Emp-

loyees

Owners

CORPORATE

OPERATING UNIT

Corporate Structure

27

Division Organization Structure

28

29

Proven Operating Strategy

Profitable new business

Productivity and cost

improvement

Value-based pricing

3 Value Drivers

Operating Unit Accountability

Value driven down through

each Product Line

Mid-Quarter and Quarter-

End Reporting

Emphasize Value Creation,

Ownership and

Accountability

30

Product Line Detail Focus

Product Team Structure

P&L Financial Reporting

Value Driver Accountability

Attention to Detail: Focus

Product Line  Value

Generation

Value

Drivers

Product

Manager

Materials

Lead

Manufacturing

Lead

Engineering

Lead

Product Line Team

Management Process –

Product Line Value Reporting Tools

31

New Business

Consistent Product

Line Metrics

Accountability

Quarterly

Mid Quarterly

Product Line Income Statement 

FY 2007

% to

Q1 08

% to

Q2 08

% to

Q3 08

% to

Q4 08

% to

YTD Fcst

% to

YTD Plan

% to

Actual

Sls

Actual

Sls

Actual

Sls

Fcst

Sls

Fcst

Sls

Through Q3

Sls

Through Q3

Sls

Top Line Activity:

1,172

3.3%

New Biz Bookings

372

4.6%

307

3.1%

480

4.8%

195

1.8%

1,159

4.1%

639

2.5%

38,648

109.8%

Total Bookings

7,529

92.6%

13,081

131.4%

10,218

102.0%

10,619

99.4%

30,828

109.7%

27,832

107.2%

35,195

100.0%

  Sales

8,133

100.0%

9,957

100.0%

10,019

100.0%

10,678

100.0%

28,109

100.0%

25,974

100.0%

Product Costs:

8,696

24.7%

Material

2,049

25.2%

2,408

24.2%

2,584

25.8%

2,791

26.1%

7,041

25.0%

6,692

25.8%

2,678

7.6%

Direct Labor

659

8.1%

770

7.7%

830

8.3%

850

8.0%

2,259

8.0%

1,924

7.4%

6,667

18.9%

Overhead

1,349

16.6%

2,005

20.1%

2,047

20.4%

2,068

19.4%

5,401

19.2%

4,868

18.7%

928

2.6%

  Depreciation

219

2.7%

216

2.2%

215

2.1%

220

2.1%

650

2.3%

628

2.4%

-

0.0%

  Other

-

0.0%

-

0.0%

-

0.0%

-

0.0%

-

0.0%

-

0.0%

18,969

53.9%

  Total Product Costs

4,276

52.6%

5,399

54.2%

5,676

56.7%

5,929

55.5%

15,351

54.6%

14,112

54.3%

16,226

46.1%

  Gross Profit

3,857

47.4%

4,558

45.8%

4,343

43.3%

4,749

44.5%

12,758

45.4%

11,862

45.7%

G&A Costs:

60

0.2%

Engineering

15

0.2%

15

0.2%

16

0.2%

16

0.1%

46

0.2%

48

0.2%

649

1.8%

Sales

184

2.3%

177

1.8%

188

1.9%

188

1.8%

549

2.0%

562

2.2%

1,213

3.4%

Admin

216

2.7%

203

2.0%

218

2.2%

222

2.1%

637

2.3%

641

2.5%

(41)

-0.1%

  Other

(2)

0.0%

2

0.0%

-

0.0%

-

0.0%

-

0.0%

-

0.0%

64

0.2%

  Depreciation

16

0.2%

17

0.2%

17

0.2%

17

0.2%

50

0.2%

20

0.1%

1,945

5.5%

  Total G&A Costs

429

5.3%

414

4.2%

439

4.4%

443

4.1%

1,282

4.6%

1,271

4.9%

14,281

40.6%

  Product Line EBIT

3,428

42.1%

4,144

41.6%

3,904

39.0%

4,306

40.3%

11,476

40.8%

10,591

40.8%

15,273

43.4%

  Product Line EBITDA

3,663

45.0%

4,377

44.0%

4,136

41.3%

4,543

42.5%

12,176

43.3%

11,239

43.3%

1,874

5.3%

Ttl Sales & Eng. Exp.

523

6.4%

586

5.9%

646

6.4%

646

6.0%

1,755

6.2%

1,816

7.0%

8,933

Ending 90day backlog

9,601

9,269

10,050

110%

% to Nxt Qtr Sls

96%

93%

94%

SAMPLE

32

Pricing

0.0%

5.0%

10.0%

Comm Transp

Reg Bus Jet

Defense OEM

Comm Aftmkt

Gov Aftmkt

Total

YTD

FY Plan

Inflation

YTD Product Line “A”

Pricing Results

SAMPLE

33

New Business -

Bookings ($K)

Major Activities for the Quarter:

Captured New Engine Application

Won New Bus Jet Airframe Application

Delivered New Airframe Prototype

SAMPLE

34

Cessna Citation

III

0

5,000

10,000

15,000

20,000

Q3 '07

Q4 '07

Q1 '08

Q2'08

Q3 '08

A/B Trend ($K)

A

B

0

5

10

15

3Q07

4Q07

1Q08

2Q08

Q308

Prototype Trend

New Business -

Pipeline

SAMPLE

Program

Customer

P/N

3 Yr. Pot. $000

Q1 2008

Q2 2008

Q3 2008

Q4 2008

2008 Bookings

Forecast

A

Project A

Various

XXXX-X

$5,715

$0

$52

$60

$65

$177

A

Project B

Various

XXXX-X

$1,029

$0

$20

$20

$20

$60

A

Project C

Various

XXXX-X

$1,019

$18

$64

$120

$75

$277

A

Project D

Various

XXXX-X

$1,057

$0

$0

$0

$15

$15

A

Project E

Various

XXXX-X

$2,079

$0

$28

$20

$40

$88

A

Project F

Various

XXXX-X

$1,815

$0

$14

$20

$25

$59

A

Project G

Various

XXXX-X

$429

$0

$0

$0

$15

$15

A

Project H

Various

XXXX-X

$434

$0

$0

$0

$30

$30

A

Project I

Various

XXXX-X

$572

$2

$10

$15

$20

$47

A

Project J

Various

XXXX-X

$504

$16

$10

$15

$15

$56

A

Project K

Various

XXXX-X

$889

$0

$5

$10

$10

$25

A

Project L

Various

XXXX-X

$219

$0

$0

$0

$25

$25

A

Project M

Various

XXXX-X

$715

$0

$0

$10

$10

$20

A

Project N

Various

Multiple

$0

$2

$35

$40

$40

$117

A

Other -

Industrial Apps

Various

Various

$1,000

$71

$199

$179

$75

$524

Total "A" Pgms

$17,478

$109

$437

$509

$480

$1,535

B

Project O

Various

XXXX-X

$2,288

$0

$0

$0

$0

$0

B

Project P

Various

TBD

$200

$0

$0

$0

$0

$0

B

Project Q

Various

TBD

$200

$0

$0

$0

$0

$0

B

Project R

Confidential

XXXX-X

$150

$0

$0

$0

$25

$25

B

Project S

Various

Various

$900

$0

$0

$0

$0

$0

B

Project T

Confidential

Various

$750

$0

$0

$0

$0

$0

B

Project U

Confidential

Various

$0

$0

$0

$0

$0

$0

B

Project V

Confidential

XXXX-X

$1,500

$0

$0

$115

$100

$215

B

Project W

Confidential

Various

$0

$0

$0

$0

$0

$0

Total "B" Pgms

$5,988

$0

$0

$115

$125

$240

Total "A & B" Pgms

$23,466

$109

$437

$624

$605

$1,775

35

Productivity

Plan

Forecast

Cross Training

50

85

Outsourcing Savings

150

225

Cell Weighing Project

0

50

Sintering Inline

Measuring

50

29

Automatic Brusher

33

35

Lean Mfg Dept 360

30

32

Heat Treat Savings

0

18

Automatic Plate

Loader

14

22

Load Testing

Automation

20

25

Auto Inkjet Part

Marking

15

18

All Other Projects

175

242

2008 Total

537

781

Productivity ($000)

Sales Per Head

(Adjusted for Price)

240

$252

$268

$277

195

187

190

185

150

200

250

300

FY '06

FY '07

YTD Plan

YTD F/C

150

200

250

300

SAMPLE

36

Talent Development

37

Talent Demand

Organic Growth & Mgt.

Turnover

Acquired Growth

& Mgt. Transitions

Growth Requires

Talent

38

Talent Development &

Talent Inventory Management

Quarterly Update by Operating Unit

Roster by Management Level

Bench Strength Development Actions

Press Weed-out Actions

Press Recruiting Efforts

Press for ACTION and

CHANGE

39

Weed-out or Promote

Talent Pool 

Weed-out

Develop

Expand

Test

Promote

Individual Effectiveness

Talent Distribution & Action

High

Low

40

Succession Sort,  Develop,  Promote

President

Dir of S&M

Dir of Eng

Dir of Mfg.

Controller

Prod Line Mgr

Mfg  Mgr

Eng Lead

HR, QC

Other

President

Dir of S&M

Dir of Eng

Dir of Mfg.

Controller

Prod Line Mgr

Mfg  Mgr

Eng Lead

HR, QC

Other

New Acquisition

Existing Unit

OR

Key Positions:

Dir S&M

Dir Mfg

Prod. Line Mgr

Mfg. Manager

President

Dir of S&M

Dir of Eng

Dir of Mfg.

Controller

Prod Line Mgr

Mfg  Mgr

Eng Lead

HR, QC

Other

President

Dir of S&M

Dir of Eng

Dir of Mfg.

Controller

Prod Line Mgr

Mfg  Mgr

Eng Lead

HR, QC

Other

41

Recent Internal Succession & Growth Activity

Recent Promotions:   2006 thru 2008

Presidents & Significant Corp. Positions

14

Op Unit Staff Directors & Managers

25

Product Line & Significant Managers

30

42

43

Acquisition Integration

44

Acquisition Value Creation

45

Proven Acquisition Integration

Incorporate TDG Pricing

Methods

Right-size the Cost Structure

Focus the New Business

Organize Into Product Lines

Add Value Driver Metrics

Align Financial Reporting

Acquisition Value Generation

$6.0

$2.8

$1.7

$1.5

$12.0

$0

$2

$4

$6

$8

$10

$12

$14

Acquired

EBITDA

Price

Prod.

Volume

Expected

EBITDA

EBITDA

Margin      21.0%                                              42.0%

Performance Stability

46

Consistent Value Creation

Strategy

Product Line Detail Focus

Active Talent Growth

Disciplined Acquisition

Integration

Solid Value Growth Process

Operating Units

Robert S. Henderson

12 Operating Units

12 Operating Units

34 Product Lines

34 Product Lines

$705 M Revenue

$705 M Revenue

TransDigm

Group Inc.

48

Common Distinguishing Characteristics

49

Aerospace components

Proprietary engineered products

Significant aftermarket content

Results in High Cash Flow and EBITDA

50

AeroControlex

CDA 

Champion 

MarathonNorco

ADS/Transicoil

AI2 

Avtech

Bruce 

Skurka

AdelWiggins

Adams Rite 

CEF 

Transdigm

Group -

Locations

51

TransDigm Locations –

Adams Rite Aerospace 

Fullerton, CA

52

TransDigm Location –

AeroControlex Group

Painesville, OH

53

TransDigm Locations –

Champion Aerospace

Liberty, SC

54

TransDigm Location –

AdelWiggins Group

Commerce, CA

55

TransDigm Locations –

Avionic Instruments

Avenel, NJ

Avionic Instruments Inc

56

TransDigm Location –

Skurka Aerospace

Camarillo, CA

57

TransDigm Locations –

CDA Intercorp

Deerfield Beach, FL

CDA InterCorp

58

Waco, TX

TransDigm

Locations –

MarathonNorco

Aerospace

59

TransDigm Location –

ADS/Transicoil

Collegeville, PA

60

TransDigm Location –

Avtech

Seattle, WA

61

TransDigm Location –

Bruce Aerospace

Dayton, NV

TransDigm Location –

CEF Industries

62

Addison, IL

63

Recurring Stream of Profitable Aftermarket Revenue

5

10

15

20

25

30

35

40

45

50

55

60

65

70

Profitability/% of Sales

Airframe Program Life Cycle (Years)

Aftermarket

OE Production

Life Cycle Revenue Stream

64

Low OEM Revenue  / Margin

High Spares Parts Generation / Margin

Life Cycle Revenue Stream

65

Aftermarket

Various Components

Replaced on average every 5 years

High annual average spare parts sales

Aftermarket revenue 70 to 100x OEM revenue

Life Cycle Revenue Stream

Low OEM Revenue  / Negative Margin

Consumable –

High Aftermarket Sales / Margin

66

Life Cycle Revenue Stream

Replaced / Consumed Annually

Aftermarket Revenue 100 to 150x OEM Revenue

67

Life Cycle Revenue Stream

68

Low OEM Revenue  / Margin

High Spares Parts Generation / Margin

Life Cycle Revenue Stream

69

Aftermarket

Various Components

Replaced as needed

High annual average spare parts sales

Aftermarket revenue 50 to 100x OEM revenue

Diverse Products, Platforms and Markets

70

Mergers & Acquisitions

Albert J. Rodriguez

72

Focused Acquisition Strategy

KEY ACQUISITION CRITERIA

Aerospace components

Proprietary engineered products

Significant aftermarket content

Significant Opportunities to

Complete Accretive Acquisitions

EBITDA Margin

Distribution

Annual Revenue $/Yr. 

OPPORTUNITY

TO

CREATE

VALUE

(1)

FRAGMENTED BASE

(1)

0%

5%

10%

15%

20%

25%

30%

35%

0-5%

6-10%

11-15%

16-20%

21-25%

26-30%

31-35%

36-40%

0%

10%

20%

30%

40%

50%

60%

< $10M

$10-$40M

$40-$150M

$150 Mil +

(1)   Estimated population = 2,000 businesses . Distribution percentages are management estimates adjusted for inflation.

73

Proven Record of

Acquisition & Integration

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

Adams Rite

Aerospace

Christie

Champion

Honeywell Lube

Pump

Fuelcom

Norco

Adel

Aeroproducts

Wiggins

Controlex

Marathon

Avionic

Instruments

Skurka

Fluid

Regulators

Eaton Motor

Products

2006

2007

Sweeney

Electra-Motion

CDA InterCorp.

Avtech

ADS/Transicoil

Bruce

CEF Industries

Management has acquired 22 businesses since 1993,

Management has acquired 22 businesses since 1993,

including five since October 2006.

including five since October 2006.

2008

74

75

Organization Structure

A. Rodriguez

K. Kates

C. Egan

Broker

U.K.

R. Williams

Broker

U.S.

Direct Company Contact

Investment Bankers

Regional Brokers

Select OEM’s

Direct Company Contact

Lead Generation

Lead Generation is a Systematic Process

Privately Held

Strategic OEM

Auction

76

Lead Generation Techniques

Acquisition Lists

Privately Held

Strategic OEM

Auctions

Conferences/Shows

Networking

Internet Searches

Cold Calling

=

Visit, Visit, Visit!

77

Formal Acquisition Process

Teaser

Confidentiality Agreement

Offering Document

Expression of Interest

Management Meeting

Due Diligence

2

nd

Round Bid

Down Select

Negotiate Contract

Financing

Close Deal

78

Informal Acquisition Process

Close Deal

Contract

Due Diligence

Letter of Intent

Build Trust

79

80

Active Acquisition Process

200

Introduction

50

Evaluate

6

Letter

of

Intent

Typical Multiple

6 –

10x EBITDA

Post Acquisition

50%+ multiple reduction

2

Closed

Closed

81

Common Issues/Opportunities

Excessive costs

Sub optimal pricing

Unfocused

new

business

process

One Page “Go”

or “Stop”

Go

Go

or

or

82

Stop

Stop

Own/Lease

Own

/

lease

Proprietary

80%

Sales

$88,835

Sq. Ft.

270,000

Sole Source

90%

COGS

$74,903

Headcount

356

Gross Profit

$13,931

Sales/Head

$250

%

15.7%

SG&A

$7,960

OEM

%

9.0%

Union Hds.

-

Eurofighter

$13,650

EBIT

$5,971

Embraer

170/190

$6,750

Market (Nominal)

%

6.7%

NH90 Helicopter

$6,075

Price (Real)

1.0%

EBITDA

$8,141

A109/119 Helicptr

$4,800

Productivity

1.0%

%

9.2%

Citation X/Sovrgn.

$3,300

Ariane

5 Rocket

$2,950

Q400

$2,550

Purchase Price

$65,124

Helicopters

$23,985

Other

$20,333

Multiple EBITDA

8.0

Fighter/Trainers

$23,097

Total

$60,408

Regional Jets

$18,655

Business Jets

$7,995

Aftermarket

Beg. EBITDA

$8,141

Aftermarket

32%

Other

$12,102

R&O Tornado

$1,100

Market

$0

OEM

68%

Non Aerospace

$3,000

R&O EH101 Heli.

$1,000

Price Real

$4,531

R&O AM-X Fighter

$900

Productivity

$829

Commercial

47%

R&O A109/119

$600

FCST EBITDA

$13,501

Military

50%

Spares Tornado

$3,200

Other

3%

Spares Tornado

$3,200

TD Multiple

10.0

Spares Tornado

$1,050

TEV

$135,006

Total

100%

Sub-total

$0

All

Other

R&O/Spares

$17,377

Less Debt

$35,000

Total

$88,835

Total

$28,427

Equity

$100,006

32%

Aerospace

Yes

Aftermarket

Yes

Components

Yes

Proprietary/Sole Source

Market Ratios

Financials 2007

Color

Legend.

Green

fits

criteria,

Yellow

may

fit

criteria,

Red

doesn't

fit

criteria.

(Blue

are

input

fields

below)

Platforms

Markets

Segments

Value Assumptions

OEM

OEM

Spares

Spares

Market

Market

Trends

Trends

Real Pricing

Real Pricing

New Business

New Business

Total

Total

Revenue

Revenue

Revenue Forecast

Base Revenue

Shipset Model

83

Detailed Pricing Review

Market Segment

Typical Actions

Comm

OEM

LTAs

Reset

Spares Incr.

Comm

Aftmkt

Repairs Inc.

..

Defense OEM

..

..

Defense Aftmkt

..

$

P/N by P/N

Review

84

Productivity

85

Due Diligence

Goal –

validate model

Look for liabilities/problems

86

Finance / MIS

Sales

Income Statements

Customers/Markets

Balance Sheets

Platforms

Inventory/Valuation

Competitors

Cost System

LTAs

MIS System

Pricing

AR/AP

Sales force

Liabilities

Distribution

Engineering

Operations

Technology

MRP/Planning

Sole source

Suppliers

R&D Projects

Routings/process sheets

Quality System

Equipment/Facility

Human Resources

Taxes / Legal

Management

Corporate Structure

Salaries

Past Tax Returns

Benefits

Environmental

Insurance

Licenses Permits

Litigation

87

Additional Equity Created

88

Beginning EBITDA

$8.1

Real Price

$3.2

Inflation

$0.7

Productivity

$2.3

Market Growth

($2.8)

New Business

$2.0

Target EBITDA

$13.5

Source of Equity

Multiple Expansion / (Contraction)

$27.0

Debt Repayment

$22.3

Operating Improvement

$43.2

Total

$92.5

Investment Evaluation –

Example Only

Purchase Price / Capital Structure

EBITDA

$     8,141

Multiple

8.0

Purchase Price  

$65,128

Fees

$1,954

Total Purchase Price

$67,082

Debt 4.5x 2008 EBITDA

$36,635

Equity Required

$30,447

Total

$67,082

Debt & Equity

Investment

Year 1

Year 2

Year 3

Year 4

Year 5

($30,447)

EBITDA

$9,017

$9,987

$11,061

$12,251

$13,501

Multiple

10.0

10.0

10.0

10.0

10.0

TEV

$90,167

$99,866

$110,608

$122,506

$135,010

Less debt

$(33,028)

$(29,033)

$(24,609)

$(19,709)

$(14,308)

Market Value

$57,139

$70,833

$85,999

$102,797

$120,702

($30,447)

0

0

0

$0

$120,702

IRR

31.7%

89

90

Actual Performance –

Example 1

% EBITDA

0%

15%

30%

45%

Yr. 0

Price

Productivity

Volume

Yr. 6

Actions:

Replaced management

Increased aftermarket prices

Reduced personnel 15%-20%

Focused new business program

95%

Aerospace

95%

Proprietary

At Acquisition Date

45%

Aftermarket

91

Actual Performance –

Example 2

% EBITDA

20%

25%

30%

35%

40%

45%

50%

55%

Year 0

Price

Productivity

Volume

Year 2

Actions:

Consolidated into existing

TransDigm facility

Increased Aftermarket Prices

Reduced Personnel 35%

Focused development activities

85%

Aerospace

90%

Proprietary

45%

Aftermarket

At Acquisition Date

Financial Information

Greg Rufus

93

Proven Record of Growth and Margin Expansion

($ in millions)

% of Sales      20%       19%       23%      27%      31%      39%      39%      36%     36%      39%      42%      46%      44%

45%      46%      46%

(1)

EBITDA As Defined is a non-GAAP financial measure presented here as supplemental disclosures to net income.  For a presentation of

the most directly comparable GAAP measure and a reconciliation of EBITDA As Defined, please see appendix.

(2)

Midpoint of May 6, 2008 Guidance (excluding CEF Industries).

(2)

$48

$10

$52

$10

$57

$13

$63

$17

$78

$25

$111

$44

$131

$51

$151

$54

$201

$72

$249

$98

$293

$124

$301

$139

$374

$164

$435

$194

$593

$275

$705

$329

'93

'94

'95

'96

'97

'98

'99

'00

'01

'02

'03

'04

'05

'06

'07

'08 E

Revenue

EBITDA As Defined

(1)

18.7%

14.8%

46.3%

44.7%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

LTM EBITDA Margin

LTM (EBITDA-Capex) Margin

Industry Peers

TransDigm

94

Industry Leading Financial Performance

Note:  LTM data as of 9/30/07. EBITDA for TransDigm

is EBITDA As Defined

(1)

Based on publicly available information. Includes PCP, GR, COB, MGGT, HXL, BEAV, MOG, ESL, COL, CW, HEI.

TransDigm’s

EBITDA margin and free cash flow are at the top of the

aerospace sector.

(1)

Commonly Asked Questions

95

Commonly Asked Questions:

Commonly Asked Questions

96

What Time Zone are You In?

Answer:

Ohio has elected to let New York participate in our

Eastern Time Zone!!!

97

Aftermarket

OEM

Strong Focus on High-Margin Aftermarket

Approximately 60% of pro forma net sales and a much higher percentage of

EBITDA are from the stable, high-margin aftermarket.

NET SALES

EBITDA

Based on management estimates for the fiscal year ended 9/30/07.

Other Aftmkt

1%

Comm

Aerospace

OEM

29%

Def Aerospace

Aftmkt

15%

Other OEM

2%

Def Aerospace

OEM

9%

Comm

Aerospace

Aftmkt

44%

98

Commercial Aircraft Base

99

Reported GAAP Sales vs. Installed Base

Source: The Airline Monitor May 2008

United States

76%

Foreign 24%

2007 GAAP Sales

Installed Base of Comm.

Aircraft

%

Acquisitions (Purchase Accounting, Operating Margin,

Integration Costs)

OEM vs. Aftermarket Sales Mix

Strategic Investment

Avg.

Quarterly

Sales

$175M

Commercial Aftermarket          45%

Implied Aftermarket Sales     $ 79M

100

Margin Fluctuations & Quarterly Comparisons

Qtr. Example:

$4M

=  5%

Real World Items

Retrofits

Timing of Large Shipments

Govt. Approval

Stocking Order

Industry Inventory Changes

Example

101

Capitalization

($ in millions)

Cum. Mult.

9/30/08 E

EBITDA

% of Cap.

Cash

200.0

$           

Revolver

(1)

-

-

-

Term Loan

780.0

2.4

25.7%

Senior Subordinated Notes

577.2

1.7

19.0%

Total Debt

1,357.2

$         

4.1

44.7%

Market Equity

(2)

1,677.9

55.3%

Total Capitalization

3,035.1

$         

100.0%

EBITDA As Defined

(3)

328.5

$           

Net Debt/EBITDA As Defined

3.5

(1)

$198.5 million availability

(2)

Based on shares outstanding of 48.3 million and a 6/26/08 stock price close of $34.74.

(3)

Midpoint of May 6th, 2008 Guidance (excluding CEF Industries)

102

Historical Leverage Ratio

(1)

Total Debt ÷

Proforma

EBITDA as Define

(2)

Total Debt less cash ÷

Proforma

EBITDA as Defined

103

Significant Free Cash Flow

($ in millions)

(1)

Midpoint of May 6

th,

2008 Guidance (excluding CEF Industries)

(2)

Excludes interest paid of $62.7 million in November 2005 on the $200 million of promissory notes issued in 2003.

2005

2006

2007

2008 E

EBITDA As Defined

$164.2 

$194.4 

$274.7 

$328.5 

(1)

CapEx

(8.0)

(8.4)

(10.3)

(13.9)

Cash Interest Expense

(46.0)

(74.9)

(90.7)

(92.5)

Cash Taxes

(19.2)

(8.3)

(18.6)

(40) 

Free Cash Flow before WC

$91.0 

$102.8 

$155.1 

$182.1 

% of EBITDA As Defined

55.4%

52.9%

56.5%

55.4%

Fiscal Year Ended September 30,

(2)

Repurchase Stock

Dividend

Value Generating Acquisitions

Available Funds

Est. Cash Balance @ 9/30/08

$200M

Unused Revolver

$200M

$400M

Credit Markets

?

Pay Down Debt

Subordinated Notes: Breakage fees

Senior Credit Facility: Low cost and minimum covenants

Use of Free Cash Flow

104

Multiple Opportunities to Create Value

Value Pricing and Productivity

Value Pricing and Productivity

Acquisitions

Acquisitions

Deleveraging

Deleveraging

Superior Management

Superior Management

Profitable New Business

Profitable New Business

Steady  Long Term Growth in Passenger Traffic

Steady  Long Term Growth in Passenger Traffic

105

Steady Top

and Bottom

Line Growth

Q & A

July 1, 2008

107

Appendix

Reconciliation of Net Income to EBITDA As Defined

(in millions)

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Net Income

($5)

$0

$1

$3

$14

($17)

$11

$14

$31

($76)

$14

$35

$25

$89

Depreciation and amortization

7

7

7

6

7

6

7

9

13

10

18

17

16

24

Interest expense, net

5

5

5

3

3

23

28

32

37

43

75

80

77

92

Income tax provision

(2)

-

2

5

13

(2)

8

9

17

(45)

6

23

16

53

Warrant put value adjustment

1

1

2

5

7

-

-

-

-

-

-

-

-

-

Extraordinary item

-

-

-

2

-

-

-

-

-

-

-

-

-

-

EBITDA

6

13

17

24

44

10

54

64

98

(68)

113

155

134

258

Merger expense

-

-

-

-

-

40

-

-

-

176

-

-

-

-

Acquisition-related costs

4

-

-

1

-

1

-

8

-

15

20

2

1

9

Non-cash compensation and

deferred compensation costs

-

-

-

-

-

-

-

-

-

1

6

7

1

6

One-time special bonus

-

-

-

-

-

-

-

-

-

-

-

-

6

-

Public offering costs

-

-

-

-

-

-

-

-

-

-

-

-

3

2

Refinancing costs

-

-

-

-

-

-

-

-

-

-

-

-

49

-

EBITDA As Defined

$10

$13

$17

$25

$44

$51

$54

$72

$98

$124

$139

$164

$194

$275