Colorado Springs CEO Renata Ibarra Leads Aerospace Supplier Through Growth Spurt

When Renata Ibarra took over as chief executive of Summit Precision Components from her father five years ago, the Colorado Springs aerospace parts supplier employed around forty people. Today, the company employs more than a hundred, riding a wave of increased demand from the region's aerospace and defense supply chain.

"I inherited a solid, well-run company," Ibarra said. "My job was figuring out how to grow it without losing what made it reliable in the first place." That balance has meant investing heavily in new manufacturing equipment while keeping the company's original quality control processes largely intact.

Modernizing a Family Business

Ibarra's most significant early decision was investing in computer-controlled precision machining equipment to replace older manual processes, a multi-year capital investment she says was necessary to compete for larger contracts requiring tighter manufacturing tolerances. The upgrade required retraining much of the existing workforce, some of whom had operated the older equipment for decades.

"There was real anxiety among some longtime employees about whether new machines meant their jobs were at risk," Ibarra said. "I had to be very direct that we were investing in their capabilities, not replacing them." The company retained its entire senior machinist staff through the transition, retraining them as equipment operators and quality inspectors for the new systems.

Riding Regional Aerospace Growth

Summit Precision has benefited from broader growth in the Colorado Springs aerospace and defense manufacturing sector, winning several new supply contracts as larger contractors have expanded local operations. Ibarra says the company has been deliberate about diversifying its client base rather than becoming overly dependent on any single large contract.

Looking ahead, Ibarra says she's focused on expanding the company's engineering capabilities so it can take on more complex component designs rather than just manufacturing to specifications provided by clients, a shift she believes will protect the company's margins as manufacturing-only work faces increasing price competition.