The recent British Airways mayday incident has put aircraft safety systems back under the spotlight, and that attention can quickly spill over into related stocks. When headlines focus on stall warnings, data failures, and backup flight control modes, investors often reassess companies linked to avionics, flight control, and maintenance. This article looks at how that safety scare and the AAIB investigation might influence parts of the Aerospace and Defense supply chain. It also reveals 3 stocks from our Aircraft Safety and Component Suppliers screener that appear more directly exposed to this news driven theme.

Legence (LGN)

Overview: Legence is a building systems specialist that designs, installs, and maintains mission critical HVAC and other mechanical, electrical, and plumbing systems for complex sites such as data centers, hospitals, labs, and government facilities across the United States.

Operations: Legence generates about US$0.7b in revenue from Engineering & Consulting and about US$2.3b from Installation & Maintenance, with all reported revenue of roughly US$3.1b coming from the United States.

Market Cap: US$6.4b

Legence sits at the intersection of AI fueled data center build outs and high stakes building reliability, with a US$5.4b backlog and modular fabrication capacity that aims to improve project efficiency and margins over time. The company is now profitable and analysts expect faster earnings growth than revenue, yet the stock trades at a low P/S multiple relative to peers, which may appeal to investors who think current expectations are too conservative. The flip side is meaningful funding risk, limited interest cover, and a relatively new board that is still bedding in oversight. If management executes on backlog conversion, M&A and balance sheet discipline, Legence could look very different to investors tracking aircraft safety and mission critical infrastructure themes.

Legence’s low P/S, growing backlog and focus on mission critical systems could be masking a very different earnings story. Get the full picture and the catch in the 5 key rewards and 2 important warning signs (1 is major!)

ATS (TSX:ATS)

Overview: ATS Corporation designs and builds automated manufacturing and assembly systems that help companies produce complex products more efficiently, from medical devices and auto components to energy and electronics equipment, while also offering ongoing service and digital tools to keep those systems running reliably.

Operations: ATS generates about CA$3.0b in revenue from Automation Systems, with customers spread across the United States, Europe, Canada, and other global markets.

Market Cap: CA$3.7b

ATS sits at an interesting crossroads for investors watching aerospace safety after the British Airways mayday incident, because its automation, controls, and digital monitoring tools can be central to building and testing critical components. The company has turned profitable with CA$2,972.93m in revenue and earnings of CA$71.64m. Analysts expect faster earnings growth than revenue and a price target above the current share price. At the same time, ATS leans heavily on acquisitions, carries meaningful debt, and recently reported weaker order bookings, which adds execution and financing risk. With investor activism in play ahead of the August 2026 meeting and management reshaping lower margin transportation work, the key consideration is whether ATS can turn its automation strengths into steadier, higher quality cash flows in safety focused markets such as aerospace.

ATS appears to be an automation engine whose true potential in high stakes safety markets may not be fully reflected in current sentiment. To see how acquisitions, debt and cash generation fit together, review the 4 key rewards and 1 important major warning sign

Astronics (ATRO)

Overview: Astronics designs and manufactures aircraft lighting, power, safety, avionics, and test systems that sit directly on commercial, defense, and business aircraft, as well as automated test equipment used by aerospace, defense, communications, and mass transit customers worldwide.

Operations: Astronics generates about US$819.8m in revenue from its Aerospace segment and US$67.5m from Test Systems, with a small intersegment adjustment.

Market Cap: US$2.9b

Astronics is closely aligned with the renewed focus on cockpit reliability and backup systems following the British Airways mayday incident. Its lighting, power, and avionics products are built into many aircraft platforms and supported by its test equipment. The company has recently been profitable, with raised 2026 revenue guidance, a sizeable US$44.7m U.S. Army radio test order, and a new eVTOL power contract that extends its reach beyond traditional airlines. At the same time, investors need to weigh a very high P/E, heavy use of debt, past Test segment missteps, and ongoing tariff and legal risks. The key question is whether Astronics’ higher margin aerospace focus and certification strengths justify those financial and execution pressures.

Astronics appears to be a high-stakes earnings story, with cockpit exposure, test wins, and a very high P/E that may be masking key trade-offs. Get the missing context in the 3 key rewards and 2 important warning signs (1 is major!)

The three stocks in this article are only a starting point, as the full Aircraft Safety and Component Suppliers screener on Simply Wall St surfaced 42 more companies with equally compelling narratives inside the Aerospace and Defense - Aircraft Safety and Component Suppliers screener. Use Simply Wall St to identify and analyze the exact catalysts, risk flags, and business narratives that matter to you, so you can focus on the highest conviction opportunities in this aircraft safety theme.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.