Howmet Aerospace is the dominant supplier of mission-critical engine components and aerospace fasteners, holding ~60% share in widebody engine airfoils with multi-decade customer qualification barriers that make switching prohibitively expensive. The company is compounding at 10-11% top-line growth driven by a structural aerospace supercycle (decade-long OEM backlogs, accelerating spares demand at 33% YoY growth, and data-center-driven IGT tailwinds), while expanding EBITDA margins toward 30%+ through operating leverage on a largely fixed manufacturing base. The $1.8B CAM acquisition adds high-margin fastener/fittings revenue and deepens content per aircraft.