Oerlikon

What Oerlikon does

Oerlikon is a Swiss high-tech industrial group that completed its strategic transformation into a pure-play material science entity in February 2026 following the divestment of the Barmag textile machinery business to Rieter for CHF 716 million. The company operates through six core sub-brands — Oerlikon Balzers (surface technologies), Oerlikon Metco (surface solutions), Oerlikon AM (additive manufacturing), Oerlikon HRSflow (hot runner systems for plastics), Oerlikon Riri, and Oerlikon Fineparts (luxury metal components) — serving aerospace and defense, automotive, power generation, semiconductor, oil and gas, medical, tooling, and luxury goods industries. The company holds NADCAP and EN/AS 9100 certifications across multiple production facilities, an accumulated installed base of approximately 3,000 coating systems worldwide, and is the global leader in vacuum coating equipment with a 6% market share.

The integrated portfolio spans four product pillars: coating services (contract coating at global service centers), coating equipment (PVD, CVD, thermal spray systems including the ChamPro controlled-atmosphere plasma spray platform, Surface Two, and INVENTA PVD), advanced materials (700+ thermal spray and additive manufacturing powders and wires under MetcoAdd and MetcoMed brands, with select products sold via the myMetco e-commerce platform), and advanced component manufacturing (ELDIM turbine components, friction systems for transmissions, EV battery safety shields rated to 1,400°C and 18 kV electrical isolation, HRSflow hot runner systems, and additively manufactured suppressors). Proprietary technology includes the Scoperta AI-driven alloy development platform, which compresses new alloy R&D from years to months, and the Metco IIoT digital ecosystem for real-time coating process monitoring. Vertical integration across the AM value chain (proprietary powders, TruPrint printing platforms, post-processing, and inspection) is executed through a strategic manufacturing partnership with ATLIX (formerly TRUMPF Additive Manufacturing), making Oerlikon the largest contract manufacturing partner in North America with over 25,000 AM suppressors produced by mid-2025.

Revenue is generated through a mix of equipment sales (PVD/CVD/thermal spray platforms), contract coating services, materials sales (some via direct e-commerce), and component manufacturing, sold primarily through direct enterprise sales teams targeting major OEMs and Tier 1 manufacturers. Q4 2025 revenue reached CHF 1.568 billion (flat year-over-year) with order intake up 6.5% to CHF 1.655 billion; aerospace and defense sales exceeded CHF 200 million in 2024, representing 14% of core surface technologies revenue. Operational EBITDA margin was 17.3% in Q4 2025 (down from 19.4% due to FX headwinds and product mix), with UBS forecasting expansion to 18.9% by FY2026 and high-single-digit organic sales growth through FY2028. UBS upgraded its price target to CHF 5.7 from CHF 3.8, citing industrial recovery and margin expansion potential.

Name

Oerlikon

Legal name

OC Oerlikon Corporation AG, Pfäffikon

Website

https://oerlikon.com

Company type

Public

Founded year

1907

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Oerlikon is a Swiss pure-play material science company providing surface technologies (thermal spray, PVD, CVD coatings), advanced materials (700+ powders and wires), additive manufacturing services, and precision components for aerospace, automotive, power generation, semiconductor, medical, oil and gas, tooling, and luxury customers worldwide.

Ownership category

akta.pro rank

Product category

Surface Technologies and Advanced Materials

NAICS

Paint and Coating Manufacturing (32551), Coating, Engraving, Heat Treating, and Allied Activities (3328), Paint, Coating, and Adhesive Manufacturing (3255)

SIC

Coating, Engraving & Allied Services (3470), Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851), Special Industry Machinery, Nec (3559)

akta.pro primary industry

Application Equipment & Coating Services (Contract Coating, Surface Prep) (IMAEAGAL)

akta.pro secondary industries

Industrial & Protective Coatings (IMAEAGAB), Industrial & Commercial Painting/Coatings/Surface Treatment (IMAIAAAK), Coating, Painting & Plating (Powder Coat, Anodizing, Electroplating, PVD/CVD) (IMAAAGAI)

Keywords

• Surface technologies
• Thermal spray coatings
• Advanced materials
• PVD CVD coatings
• Additive manufacturing

Headquarters

HQ city

Pfaffikon

HQ country

Switzerland

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Coating Services: Contract coating services at global service centers for aerospace, automotive, energy, and industrial customers. Services include thermal spray, PVD, and CVD coatings applied to customer components.
2. Coating Equipment Sales: Sale of thermal spray equipment, PVD systems, and complete coating system platforms ranging from manual guns to automated production lines. Includes installation, training, and ongoing customer support.
3. Advanced Materials (Powders and Wires): Sale of thermal spray powders, additive manufacturing metal powders, and high-performance wires. Portfolio of 700+ materials including nickel, cobalt, titanium alloys and ceramics. Sold via myMetco e-commerce platform and direct sales.
4. Component Manufacturing: Precision components including additively manufactured parts, turbine honeycomb structures, friction systems, and EV battery safety shields. Vertically integrated from design through finished part.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Oerlikon develops and sells surface technologies and advanced materials, operating as a pure-play material science entity. The company offers contract coating services (thermal spray, PVD, CVD) at global service centers, manufactures coating equipment (PVD systems, plasma spray platforms), supplies advanced materials (thermal spray and additive manufacturing powders and wires), and produces precision components (turbine components, friction systems, additively manufactured parts, luxury metal accessories) for industrial OEMs across aerospace, automotive, energy, medical, and semiconductor sectors.

Product overview

Oerlikon is a global leader in surface technologies and advanced materials, operating as a pure-play material science company following the divestment of its Barmag business in February 2026. The company offers an integrated portfolio of four main product categories: Coating Services (thermal spray and PVD/CVD coating services), Coating Equipment (PVD, CVD, and thermal spray systems including ChamPro controlled atmosphere plasma spray platforms, Surface Two, and INVENTA PVD), Advanced Materials (700+ products including metal and ceramic powders for thermal spraying and additive manufacturing under MetcoAdd and MetcoMed brands), and Advanced Component Manufacturing (turbine components via ELDIM, additive manufacturing, friction systems, and hot runner systems via HRSflow). The company operates through six main sub-brands: Oerlikon Balzers (surface technologies), Oerlikon Metco (surface solutions and thermal spray), Oerlikon AM (additive manufacturing), Oerlikon HRSflow (hot runner systems), Oerlikon Riri (luxury accessories), and Oerlikon Fineparts (luxury metal components). Key products include thermal barrier coatings (TBCs), MCrAlY materials, Baldia Varia CVD diamond coatings, and the Metco IIoT digital platform for process monitoring.

Differentiator

Problem solved

Functional benefit

Brands

• Oerlikon Balzers: World-leading provider of surface technologies, developing solutions and equipment and offering services to improve the performance and longevity of precision components and tool service lives for metalworking and plastics processing industries.
• Oerlikon Metco
• Oerlikon Additive Manufacturing (AM)
• Oerlikon HRSflow
• Oerlikon Riri
• Oerlikon Fineparts
• Balimed ARGENTA
• Baldia Varia
• ChamPro (VPS, LVPS, LPPS)
• Surface Two
• INVENTA PVD Platform
• MetcoAdd
• MetcoMed
• Scoperta
• SUMBore
• Neomet

Products and services

• Coating Services Contract coating services applying thermal spray, PVD, and CVD coatings to customer components at global service centers to improve wear resistance, thermal protection, and component longevity for aerospace, automotive, tooling, energy, and industrial customers.
• Coating Equipment Industrial coating equipment portfolio including PVD and CVD coating systems, thermal spray guns, and complete system platforms ranging from manual units to automated production lines for industrial customers applying surface coatings.
• Surface Two Thermal Spray System Scalable thermal spray coating system platform designed for intelligent manufacturing with high productivity and reliability in industrial coating applications.
• ChamPro Controlled Atmosphere Plasma Spray Systems Controlled atmosphere plasma spray systems including Vacuum Plasma Spray (VPS), Low Vacuum/Low Pressure Plasma Spray (LVPS/LPPS), and LPPS-Hybrid systems for high-quality functional coatings on critical gas turbine, aerospace, and medical components.
• INVENTA PVD Platform PVD coating platform from Oerlikon Balzers with AAT technology for advanced physical vapor deposition applications.
• Advanced Materials (Thermal Spray and AM Powders and Wires) High-performance materials portfolio of 700+ products including ultra-fine metals and ceramics powders for thermal spraying and additive manufacturing, complemented by advanced wires and ceramics designed to withstand extreme pressure, heat, and wear.
• MetcoAdd Metal Powders Proprietary metal powders specifically designed for the high requirements of industrial additive manufacturing, including MetcoAdd nickel powder for TruPrint Laser Beam Powder Bed Fusion applications.
• MetcoMed Metal Powders Metal powders designed for medical additive manufacturing applications, providing materials for medical implants and biomedical instruments.
• Thermal Barrier Coatings (TBCs) Heat-insulating ceramic coatings applied to oxidation-resistant metallic bond coats, protecting turbine engines from extreme temperatures up to 1500°C and improving efficiency.
• MCrAlY High-Temperature Materials High-temperature materials providing superior protection against high-temperature oxidation and hot corrosion, used as bond coats for the most demanding dynamic applications including turbine engines.
• Baldia Varia CVD Diamond Coating Advanced CVD diamond coating launched in June 2025 for machining lightweight and abrasive materials in aerospace, automotive, and advanced electronics industries.
• BALIMED ARGENTA Antimicrobial PVD Coating Antimicrobial PVD coating from Oerlikon Balzers providing biocompatible surface treatment for surgical instruments, combining antimicrobial protection with surgical precision for electrosurgical tools such as bipolar forceps.
• ELDIM Turbine Components Precision turbine components for aircraft engines and industrial gas turbines that improve performance, efficiency, and reliability, certified to EN 9100 with NADCAP-accredited special procedures.
• Friction Systems for Automotive Transmissions Technology for modern transmissions combining carbon friction materials and stamped steel synchronizer modules for first-class performance in demanding automotive applications.
• Additively Manufactured Components (Suppressors) Additively manufactured components including suppressors for military, law enforcement, and civilian markets, produced using proprietary MetcoAdd nickel powder on TruPrint Laser Beam Powder Bed Fusion platforms. More than 25,000 suppressors produced by 2025.
• Metco IIoT Digital Services Industrial Internet of Things platform for monitoring thermal spray coating processes online with comprehensive dashboards, enabling tracking of actual coating costs, optimization of order plans, and real-time data access.
• myMetco Online Shop Online e-commerce platform for purchasing thermal spray materials, powders, wires, and spare parts, available 365 days with global shipping for industrial customers.
• HRSflow Hot Runner Systems Innovative hot runner systems for the plastics processing industry, offering seamless and productive solutions combined with high-end surface coatings and heat treatments from Oerlikon Balzers.
• Oerlikon Riri Luxury Metal Accessories Distinctive zippers, buttons, buckles, chains, and coated metal accessories for the luxury fashion and leather goods sector, with PVD surface treatments.
• Oerlikon Fineparts Luxury Metal Components Comprehensive portfolio of metal components for the luxury sector with customized solutions combining artisan precision and cutting-edge technology, specialized in high-quality surface finishes for footwear, apparel, and leather goods.

Quantifiable outcome

• Over 15 kg weight reduction in Mazda Wankel engine through HVOF coating replacing cast iron with aluminum
• +4 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature7 records

Partnerships

Four partnerships are on record, tiered core, supporting and major.

• ATLIX (formerly TRUMPF Additive Manufacturing)coreTechnology or Integration · 1 June 2025Strategic manufacturing partnership using ATLIX TruPrint Laser Beam Powder Bed Fusion technology. Oerlikon AM produces additively manufactured suppressors using proprietary MetcoAdd nickel powder on TruPrint platforms. Oerlikon has doubled its TruPrint fleet and become the largest contract manufacturing partner in North America. Next-generation TruPrint 5000 being installed.
• BB EngineeringsupportingStrategic or Co-development Partner · 1 June 2025Joint venture partner in Barmag Recycling Technologies initiative. BB Engineering collaborated with Oerlikon Barmag to present plastics recycling and processing solutions at K 2025 trade fair under the banner 'Closing the Loop. Opening Potential.'
• Oerlikon Barmag Huitong EngineeringsupportingStrategic or Co-development Partner · 1 June 2025Joint venture presenting recycling technologies at K 2025 alongside BB Engineering and Oerlikon Barmag.
• RietermajorOthers · 1 May 2025Rieter acquired Barmag from Oerlikon in May 2025 for CHF 713-850 million, creating a globally leading player in natural and manmade fibers. The transaction closed in February 2026. Alantra acted as exclusive financial advisor to Rieter.

Scale indicators16 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Bodycote: Bodycote is the world's largest provider of thermal processing services including specialized coatings (PVD, CVD, thermal spray) for aerospace, automotive, and industrial customers. Directly competes with Oerlikon Balzers/Metco coating service centers across many of the same end markets and geographies.
• Praxair Surface Technologies (Linde): Praxair Surface Technologies (now part of Linde) is a major competitor in thermal spray coatings and advanced materials for aerospace, power generation, and industrial markets. Listed as a key player in the thermal spray coatings market alongside Oerlikon with comparable service center footprint.
• Höganäs: Höganäs is a global leader in metal powders for additive manufacturing, surface coating, and electromagnetic applications. Directly competes with Oerlikon's MetcoAdd and MetcoMed powder portfolios in the additive manufacturing materials market.

Broad incumbents

• Sulzer: Sulzer is a Swiss industrial engineering company with surface technology and coating equipment capabilities through its Chemtech and Flow divisions. Operates broadly across industrial equipment including rotating equipment, pumps, and coating-related services that overlap with Oerlikon's surface solutions portfolio.
• GE Aviation: GE Aviation (now GE Aerospace) manufactures aircraft engines and is both a customer of Oerlikon's thermal barrier coatings and turbine components, and a vertically integrated competitor in advanced materials for aerospace. The two companies collaborate and compete in advanced aerospace coatings.
• Rolls-Royce: Rolls-Royce manufactures aircraft engines and industrial power systems, consuming Oerlikon thermal barrier coatings and turbine components while also maintaining in-house surface technology capabilities. A major aerospace OEM and dual customer/competitor relationship.
• Voestalpine: Voestalpine is a major European steel and technology group with significant surface treatment capabilities and specialty materials for automotive and industrial applications. Operates as a broad incumbent with overlap in advanced coatings for automotive and industrial customers.
• Sandvik (Sandvik Materials Technology): Sandvik operates a materials technology division producing advanced alloys, powders, and coatings for industrial and aerospace applications. Competes with Oerlikon in materials, tooling, and surface treatment with a broader manufacturing footprint.
• Element Solutions (formerly Platform Specialty Products): Element Solutions is a global specialty chemicals company focused on electronic, industrial, and decorative surface treatments. Competes with Oerlikon Balzers in PVD coatings for tooling, automotive, and electronics applications through brands like MacDermid Enthone.

Emerging players

• Carpenter Technology: Carpenter Technology is a US-based producer of specialty alloys and metal powders for aerospace, medical, and additive manufacturing markets. Competes with Oerlikon Metco in advanced powder materials, particularly for aerospace and medical AM applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/358871140829460
• LinkedInlinkedin.com/company/oerlikon
• Instagraminstagram.com/oerlikon
• Xx.com/oerlikongroup

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries9 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oerlikon