Textron Inc. is a diversified manufacturer that makes Cessna and Beechcraft business aircraft, Bell helicopters, and specialized industrial and defense products through a portfolio of distinct operating segments. Its aviation segment builds business jets and turboprop aircraft sold to corporate and private aviation customers, a business tied to corporate profits and wealthy individuals' willingness to purchase private aircraft. Textron's Bell segment makes both commercial and military helicopters, giving the company exposure to defense spending alongside its more cyclical commercial aviation and industrial businesses. The company's diversified portfolio across aviation, defense and industrial products gives it exposure to multiple different demand cycles, though its aviation businesses in particular are sensitive to broader economic conditions and corporate capital spending on aircraft.