GE Aerospace has officially spread its wings, releasing its first annual report as a standalone entity after becoming an independent company on April 2, 2024. The report underscores the company’s formidable presence in propulsion, services, and systems, with an installed base of 70,000 commercial and defence engines supporting a thriving aftermarket services business that accounts for approximately 70% of its revenue. Operating in 120 countries, GE Aerospace’s 53,000-strong workforce continues to power the aviation industry worldwide.
Defining the Future of Flight
“The promise of becoming a standalone company was that our future would be wholly in our hands—ours to define and ours to create,” stated GE Aerospace Chairman and CEO Larry Culp in his letter accompanying the report. As the company that pioneered the first U.S. jet engine, the world’s first high-bypass turbofan, and the largest commercial aircraft engine in history, GE Aerospace remains at the forefront of innovation.
“We were meant to fly,” Culp emphasised. “Our work matters to the world, and we care deeply about how we do it—with a relentless focus on safety, quality, delivery, and cost (SQDC)—always in that order.”
Safety as a Cornerstone
Reaffirming its unwavering commitment to safety, GE Aerospace reflected on the 35th anniversary of the United Airlines Flight 232 crash in Sioux City, Iowa. The tragic incident led to the implementation of the company’s Safety Management System (SMS), which has since contributed significantly to industry-wide safety improvements.
“When it comes to safety, we never compete,” Culp stressed. “It is a team sport and an industry-wide effort.” With this ethos in mind, GE Aerospace recently formed the Aviation Supply Chain Integrity Coalition, partnering with industry leaders in the U.S. and Europe to prevent unauthorised parts from infiltrating the aviation supply chain. The company is also leveraging AI and digital tools to enhance maintenance and overhaul processes, ensuring real-time validation of key data fields and mitigating risks.
Expanding Horizons: Commercial and Military Growth
GE Aerospace remains a dominant force in commercial aviation, with engines powering three out of every four commercial flights. The company recently celebrated the 50th anniversary of its joint venture with Safran Aircraft Engines, CFM International, which specialises in narrowbody engines. Notably, in July 2024, its LEAP program reached a milestone with the certification of the CFM-powered Airbus A321XLR by both the U.S. Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA).
On the widebody front, the GEnx engine continues to see strong demand, with airlines such as LATAM Airlines, Thai Airways, and British Airways selecting it for their future Boeing 787 fleets. Meanwhile, the GE9X—the fastest-selling widebody engine in company history—is poised to enter service on the Boeing 777X, with an order book exceeding 950 engines. To support its growing services business, GE Aerospace is investing $1 billion to expand its Maintenance, Repair, and Overhaul (MRO) capacity.
The company’s Defense and Propulsion Technologies division is equally robust. In 2024, GE Aerospace delivered the first two T901 engines for the U.S. Army’s Improved Turbine Engine Program (ITEP), intended for integration and testing on the Sikorsky UH-60 Black Hawk. The division also achieved a major breakthrough in hypersonics with a successful demonstration of a cutting-edge dual-mode ramjet engine.
Investing in the Future of Aviation
GE Aerospace remains committed to innovation, investing approximately $2.7 billion in Research and Development (R&D) in 2024. The company’s focus areas include:
- Open Fan engine architecture
- Hybrid-electric propulsion
- Hypersonic technologies
- Small engines for unmanned applications
- Next-generation adaptive cycle engines
A top priority remains the development of highly efficient engines, aligning with industry sustainability goals. The company highlighted continued advancements in CFM’s Revolutionary Innovation for Sustainable Engines (RISE) program, designed to revolutionise narrowbody propulsion. Additionally, GE Aerospace launched FLIGHT DECK, its proprietary lean operating model to optimise operations and enhance efficiency.
Philanthropy and Workforce Development
In 2024, the newly launched GE Aerospace Foundation built upon the 100-year legacy of philanthropy established by the GE Foundation. Over the past year, GE Aerospace, its employees, and the foundation contributed $21.5 million to causes focused on workforce development, disaster relief, and veteran support. The foundation’s leadership, Christian Meisner and Meghan Thurlow, emphasised the organisation’s mission to uplift communities and foster a skilled aviation workforce.
Ready for the Climb
Reflecting on GE Aerospace’s deep-rooted history, Culp referenced Thomas Edison’s pioneering spirit, which laid the foundation for the company’s innovation-driven ethos.
“Our vision at GE Aerospace is to be the company that defines flight for today, tomorrow, and the future,” Culp wrote. “We are accountable to each other, our customers, and our shareholders to always find a better way and climb higher together.”
And, as he concluded, “we are ready for the climb.”
SOURCE AND IMAGES: GE AEROSPACE
