GE Aviation. Our team worked diligently to support our customers following the grounding of the Boeing 737 MAX, never wavering in their commitment to safety while navigating near-term industry disruption. GE’s key aviation business logged an 8% increase in revenue from the same quarter last year, to $8.1 billion from $7.5 billion. In military, Aviation’s new T901 was selected for the U.S. Army’s Improved Turbine Engine Program to power its next-generation Apache & Black Hawk helicopters. This growth is likely to be driven by healthy growth in air travel globally, improved global defense spending as well as increased shipments of the more efficient and cost-effective LEAP engines. The introduction of the GE90 in 1995 and the GEnx in 2011 offered additional fuel burn improvements. Explore a timeline of GE technologies that have spurred transformation across the world. The commercial engine business accounts for the vast majority of GE Aviation's revenue: $24.2 billion in 2019. While there’s more work ahead, GE will continue to be at the center of the energy transition in the years to come.GE’s people rise to challenges like this in every corner of the world every hour of every day. Santhosh Kumar C from GE's Edison Engineering Development Program presents in our ForGE Lab in Bangalore, India. The top 10 competitors average 1B. Aviation. Opinions expressed by Forbes Contributors are their own. Will Investors Be Satisfied With 10% In 2021? Image Caption Header Image: Kevin Jones, a Development Assembly Mechanic, performs a perfection review on the propulsor for GE Aviation’s GE9X engine before it is shipped for certification testing.Middle Image: Wysheka Austin, Senior Operations Manager, works on a combustion unibody for GE Gas Power's 7HA gas turbine in Greenville, South Carolina.Final Image: Larry Culp with Joe Newkold, Combustors Repair Operations Leader at GE's Aviation Component Service Center (ACSC) in Springdale, Ohio. My goals are aligned with yours. Your feedback is playing an important role in our efforts to make GE a stronger, more valuable company.As I laid out in my last letter, I want this document to serve as a reference point for how we run the company so that we can all keep score together. GEnx engines offer up to 15% improved fuel burn compared to CF6 engines. Additionally, the COVID-19 pandemic won't hurt GE's military aviation business. Of that sum, $15.2 billion came from services (such as … We launched seven new “mission control” Command Centers with customers in 2019, which use predictive analytics and AI to help hospitals coordinate patient care more efficiently. Free Cash Flow 2018. Learn More. Our people. Meet Renee, a machinist at our Lynn, MA facility. Dawn Hall, Operation Management Specialist, from GE Gas Power in Greenville, South Carolina. GE's Aviation division is one of the leading providers of jet engines and related machinery … Our new series of operational, talent, strategic, and budget reviews is helping our leaders define what “game” we are playing in each business and how we “win.” At the same time, we’re consciously aligning our incentives with yours, tying our business teams’ compensation more closely to their repective business’ results as well as executive compensation more closely to GE’s stock performance.Additionally, I spent significant time making sure we have the right leadership in place. GE is becoming a better company as a result.Overall, as I think about the thousands of employees and customers I met with this year, each interaction has only deepened my excitement about our work. Our leading technology, global network, and exceptional team, anchored in the service of others, are the same strengths I shared with you in this letter last year. Annual stock financials by MarketWatch. By bringing together our machines with software, analytics, and artificial intelligence (AI) through our Edison software platform, Healthcare is helping make care delivery more efficient and personalized. This in turn will help GE Capital reduce its external debt, including $16 billion that matures in 2020. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted. One team, flush with excitement, described how they’d significantly reduced production time on an engine part. Discover how our people & technology are solving global issues, improving lives, and changing industries. Revenues of $29.7 billion in 2018 implied a 13.6% y-o-y growth, and accounted for nearly 25% of the total revenue mix. For 2019, management expects slower growth at GE Aviation due to the difficult year-over-year comparison it faces. View the latest GE financial statements, income statements and financial ratios. Phil Lawrence, a welder at our Aviation Component Service Center in Springdale, Ohio, shared with me how he was hopeful the changes they were making at his site would stick. General Electric revenue for the quarter ending September 30, 2020 was $19.417B, a 16.88% … For example, in commercial, Aviation’s newly certified Passport™ engine powered Bombardier’s record-breaking flight between Sydney and Detroit in October, and the GE9X™—the world’s largest, most powerful jet engine—is on track for certification in 2020. Rather than growing tired with each turn, the teams became more energized. Alex Saldana, the Executive Project Fulfillment Leader in charge of commissioning and testing the Haliade-X. In response, Barbara Colby, a material handler, urged her supervisors to keep the operators’ momentum going. However, GE … Continued improvement actions out of a December Lean Action Workout at ACSC are driving toward a fifty-percent reduction in turnaround time at the site, positively impacting both customers and GE's bottom line. The assessment provides a 360° view and insights, outlining the key outcomes of the industry. More than two-thirds of my direct reports are new to GE or their role since I began as CEO, and I’m looking forward to welcoming our new CFO, Carolina Dybeck Happe, to the team in March. GE Aviation is a world-leading provider of aircraft engines, systems and avionics. For the full year, aviation segment revenue rose 13% to $30.6 billion. We began with the premise that the people closest to the customer know best how to serve them, so we shifted resources and accountability from Corporate to empower our business units and removed overhead layers in Power and Renewable Energy. The company continues to warn that its aviation unit … “We're doing what we said we would do, and we're on a positive trajectory for 2020”. Explore a career with us. Renewable energy revenue also soared 28% to $3.36 billion. We focused much of our energy this year on Power, and our progress illustrates the type of improvements we can make across the company over the long term. I know they won’t.I hope you will hold us to this same level of accountability as we transform GE, one day at a time. General Electric’s fast-growing Aviation business unit accounts for nearly 30% of the company’s overall revenues. We’re deeply proud of GE employees around the world rising to the challenge. General Electric Co. The platform uses extensive data to show in a single snapshot what drives the value of a company's business. GE Capital’s financing capabilities, including at GE Capital Aviation Services (GECAS) and Energy Financial Services (EFS), catalyze new growth and opportunity for our Industrial businesses and customers, enabling more than $6 billion in Industrial orders in 2019. Last year, I shared that GE had too much debt and we needed to reduce it thoughtfully and soon. Compare GE Aviation to its competitors by revenue, employee growth and other metrics at Craft. And a really fun week.After Greenville, we held lean events almost every week across the company. H. Lawrence Culp, Jr.Chairman of the Board and Chief Executive OfficerFebruary 24, 2020, Download 2019 Annual ReportDownload 2019 CEO LetterDownload 2019 10-KOrder a Copy of the 2019 Annual Report. Follow GE Aviation on Twitter and YouTube. 2021 Free Cash Flow Forecast. Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. GE ( GE ) shares fell 4% on Monday, leaving them down 44% year-to-date. GE Aviation is part of the General Electric conglomerate, which is one of the world's largest corporations. Learn more about our culture, businesses, and life at GE. You may opt-out by. General Electric Co. General Electric Co. is a technology and financial services company. This is GE: four mission-critical, global industrial businesses, each with growing backlogs and sizable installed bases where services represent more than half of our revenue and give us daily opportunities to serve our customers. Although, military spending tends to be cyclical, the company expects conditions to be upbeat over coming years and expects its military business revenue to roughly double by 2025. Thank you for joining us on this journey. Annual stock financials by MarketWatch. What I observed there gave me so much pride and hope. Indeed, GE’s aviation segment is the backbone of the company right now, and the lead generator of revenue. Trefis highlights this in the interactive dashboard Importance Of Aviation Division For GE. 7.4.2 GE Aviation Military Aviation Sensors and Switches Product Introduction, Application and Specification 7.4.3 GE Aviation Military Aviation Sensors and Switches Production Capacity, Revenue, Price and Gross Margin (2015-2020) 7.4.4 GE Aviation Main Business and Markets Served 7.5 United Technologies Corp For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/investor-relations/important-forward-looking-statement-information. This is a board that is dedicated to doing what is right for the company and has tough, direct, and substantive discussions. First, Onshore Wind is our most established, profitable business, and it is meeting high customer demand and growing internationally. So, in June, more than 100 of our leaders and I spent five days at Power in Greenville, South Carolina, for a Lean Action Workout. We are doing it from a place of greater strength and with a mission that matters—building a world that works. Our people. Accomplished leaders building GE’s legacy. Workhorse Vacuum is Bissell Inc.'s biggest rival. Learn how we’re delivering on our priorities. At GE, we rise to the challenge of building a world that works. GE Aviation introduced the CF6 engine into revenue service in 1971, which improved fuel efficiency compared to existing commercial engines in the market at the time. While the company’s other segments have struggled, Aviation’s pre-tax profit surged 20% year-over-over to $6.4 billion in 2018, accounting for more than 60% of the company’s industrial segment pre-tax profit. I’m pleased with the progress Power made in 2019 and look forward to more in 2020. Power. For the year ended December 2018, GE Aviation reported revenue of $30.6 billion. While it takes discipline, we’re fostering this at all levels of the company.The best tool I know to drive this type of positive change at a fundamental level is lean management, in which a relentless focus on customer value helps leaders get to the root cause of problems, continuously eliminate waste, and ruthlessly prioritize their work. Over 60 GE wind turbines work together at Meikle Wind Farm, the largest wind farm in Western Canada. Sign up for our newsletter and stay up to date with what’s happening in Investor news. GE Aviation has a global service network to support these offerings. As these engines fly for decades to come, they will continue to produce predictable revenue. Together with our customers, we’re proving that no one is ever limited to only affordable, reliable, or sustainable energy. Aviation revenue grew 5% while profit fell 6%, amid a transition to newer engines. GE Aviation Aircraft Landing Gear and Brakes Revenue and Gross Margin (2018-2020E) Table 61. This fleet is poised for growth; for example, in our commercial business, nearly 70 percent of the CFM56 fleet has had one or fewer shop visits. GE Aviation's main competitors include MTU Aero Engines, Safran, Pratt & Whitney, Rolls-Royce Singapore, AECC Shenyang Liming Aero Engine, Hanwha Aerospace and Boeing. We are solidifying our financial position, continuing to strengthen our businesses, and driving long-term profitable growth. GE Outlook. The unit reported that revenue rose 7.6 percent to $32.9 billion while operating income rose 5 percent to $6.8 billion in 2019. General Electric Company (GE) is an American multinational conglomerate incorporated in New York City and headquartered in Boston.As of 2018, the company operates through the following segments: aviation, healthcare, power, renewable energy, digital industry, additive manufacturing and venture capital and finance.. $27.3 billion Scott Strazik, CEO of GE Gas Power, with leaders from GE’s customer Azito Energie S.A. in Abidjan, Côte d’Ivoire. LEAP engine has continued to perform well, with GE having a better win rate over its competitors primarily due to its improved pricing. Forward-looking StatementsSome of the information we provide in this document is forward-looking and therefore could change over time to reflect changes in the environment in which GE competes. Segment profit grew at an even faster rate, surging 20% to $6.5 billion.While the aviation division only accounted for about a quarter of General Electric's revenue in 2018, it provided 60% of the company's industrial segment profit. Revenue: $27.3 billion vs. expected $27 billion; GE's revenue remained steady in the quarter even as the company continued to burn cash. The Aviation segment has been GE’s best-performing unit in recent quarters. The Aviation division has been General Electric’s (GE) best-performing business unit in recent quarters. Offering a suite of products to help unlock the full potential of additive manufacturing. GE ( GE ) shares fell 4% on Monday, leaving them down 44% year-to-date. This text provides general information. Our new, smaller Board is also now in place, which today includes 10 directors, seven of whom are new to the Board since 2017 and four of whom are women—bringing fresh perspective, diversity of thought, and the right experience for GE. Our leadership and Board are focused on this, too. I am proud of the progress our team made together, especially in how we operate. You can adjust various drivers to see the impact on the segment’s earnings and its contribution to the company, and see more Trefis Industrial company data here. The company expects double-digit growth in military aviation revenue this year, relative to 2019's $4.4 billion. As we execute, we can grow our revenues profitably while improving our overall cash generation—and we will.GE’s mission also holds a larger purpose. But aviation revenue jumped 21% to $8.46 billion, amid what GE called "strong momentum" in the next-gen, Leap jet engine program. For the year ended December 2018, GE Aviation reported revenue of $30.6 billion. With an eye on long-term profitability, the company’s focus over coming years will be on its Aviation, Power and Renewable Energy divisions. GE Aviation has sold more than 2,500 GEnx engines since their launch 15 years ago, and are now the fastest selling high-thrust GE engine in history. That said, 2019 wasn’t without its challenges. Trefis is currently used by hundreds of thousands of investors, company employees, and business professionals. Second, we’re placing technology bets in fast-growing markets. GE Aviation currently has four 3D-printed discrete parts certified by the FAA, and the expected approval of its GE9X and Catalyst engines over the next two years will give it about 20 more. Global passenger air travel has grown strongly over the years. With revenue of approximately 32.8 billion U.S. dollars, the aviation segment was GE's leading segment in terms of sales in the 2019 fiscal year. The company reported strong 2019 fourth-quarter and year-end results, including organic revenue growth, margin expansion and positive cash flow. Doing this day after day, a remarkable thing happened. Aviation’s long-term end-market fundamentals remain attractive, and the team is introducing advanced technologies in growing commercial and military markets. For 2019, management expects slower growth at GE Aviation due to the difficult year-over-year comparison it faces. Indeed, GE’s aviation segment is the backbone of the company right now, and the lead generator of revenue. Table 59. The business is embracing lean throughout its operations; at one lean event at our MR production facility in Florence, South Carolina, the Healthcare team identified $50 million of potential savings in just four days. In 2018, revenue passenger miles growth outpaced the ten-year average – increasing 6.6% with strong growth both domestically and internationally. Third are our required turnarounds in Grid Solutions and Hydro. Using lean tools, the plant has been able to reduce losses by more than 60 percent so far, saving millions of dollars’ worth of waste. GE Aviation a Crown Jewel. Revenue: US$ 30.566 billion (2018) - Equipment :: US$ 11.499 billion ... GE Aviation is among the top aircraft engine suppliers, and offers engines for the majority of commercial aircraft. Engine maintenance isn't optional, so this is typically a reliable revenue stream. More cuts are expected at GE Aviation, which has a facility in Lynn. Employees next to a row of autoclave ovens at the GE Aviation manufacturing facility in Batesville,... [+] Mississippi, U.S., on Wednesday, Sept. 7, 2016. Vidya Ravishankar from the materials planning team in Greenville summed up the week perfectly when she said: “The energy levels just kept skyrocketing. Table 60. We do not undertake to update our forward-looking statements. How Has The Aviation Division Fared Over Recent Years? GE’s Aviation division in particular will remain key to its success over coming years – primarily because it is responsible for roughly 25% of the company’s revenues, and almost 45% of its operating profit. Learn More. Explore the latest stories, news, downloads, and press tools. However, the sale of commercial jet engines accounted for just $9 billion of GE Aviation's $32.9 billion of revenue in 2019, and on average, those sales generate fairly low margins. Communities around the world want to generate more sustainable growth, broadening access to electricity, healthcare, and transport to enable a better quality of life for their citizens. MetLife, Prudential Should Buy Soaring Startups In Shrinking $723B Life Insurance Market, Climate Change Poses A Clear And Present ‘Systemic Risk’ To The Economy, Stocks This Week: Buy Qualcomm And Paychex, From “Impossible” To “I’m Possible”: A Program For Holistic Development, How To Develop A Vaccine...For Your Portfolio, Policy Rx For Recession Aggravates Income Inequality. Assuming GE Healthcare achieves low-single-digit percentage growth, then at that point, it will be generating $1.2 billion to $1.4 billion in annual revenue. A culture of integrity, compliance, safety, and respect for human rights, while reducing our environmental footprint. Transforming how industry solves its toughest challenges by bringing simplicity, speed and scale to digital transformation. His site leaders were unequivocal; if anything started to slide back to the way it was, they told him, he should call them immediately. Renewable Energy is well positioned to serve clean energy markets that are expected to grow rapidly over the coming decades.1 In 2019, we brought all of GE’s renewable and grid assets into this business, creating a differentiated offering that can both produce renewable energy and reliably and safely integrate it into electrical grids. Our people are committed, capable, and enthusiastically driving these changes, and our customers are rooting for us. GE Aviation booked $4.4 billion of revenue from its military business in 2019 and is on track for double-digit growth in 2020. Leader Milena Chapuis and Manufacturing Process Engineer Estelle Le conduct a quality check on GE Healthcare's production line. You can play with assumptions, or try scenarios, as-well-as ask questions to other users and experts. However, the largest portion of GE Aviation's revenue ($15.2 billion in 2019) comes from commercial services related to engine maintenance. GEnx engines offer up to 15% improved fuel burn compared to CF6 engines. This is resulting in significantly quicker turns; for example, we reduced planned downtime on a software upgrade for one major manufacturer by 50 percent.There are thousands of opportunities like this within GE, each representing untapped potential for customers and investors. Creating the energy technologies of the future and improving the power networks that we depend on today. GE AVIATION CAREERS Homepage Discover Life At GE Events Discover ... $30.6B Revenue (2018) GE VOLUNTEERS. Explore GE’s recent and historic SEC filings. Lufthansa Technik AG has reported record earnings for 2019, but also warned that the coronavirus crisis will undoubtedly have an “massive” impact on the maintenance industry. Table 63. Commercializing GE’s technology and IP to accelerate growth and achieve market differentiation. I t’s about making something tangible, something beautiful, it’s art. This has led to boosted the demand for new aircrafts globally. Photographer: Daniel Acker/Bloomberg. A GE Additive AddWorks team in Cincinnati, Ohio review a 3D printed helicopter engine frame designed for a CT7. Aviation delivered strong performance, closing its 100th year of operation with over $270 billion in backlog and an installed base of more than 64,0002 commercial and military engines. The Global Jet Engines Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2027). Over the course of 2019, we laid the foundation to apply lean more systematically across GE, driving better results and, in turn, a better culture.In my experience, lean transformations succeed when the senior team leads by example. The Business Journals. What’s behind Trefis? Mississippi, U.S., on Wednesday, Sept. 7, 2016. “Don’t let them off the hook,” she told her colleagues. Revenue rose by 13 per cent to EUR 6.9 billion. We’re doing what we said we would do on both fronts, and we’re on a positive trajectory for 2020. Last year, GE Aviation surpassed the company's troubled power segment to become the conglomerate's largest division, with annual revenue of more … GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, as well as integrated systems for commercial, military, business and general aviation aircraft. We forecast GE’s Aviation revenues to grow around 4% in 2019 to $31 billion. GE's innovation engine where ideas become reality to create a better world and deliver differentiated tech across the company's industrial portfolio. Earnings before interest and taxes (adjusted … The solid performance is … At present, airlines around the world have grounded thousands of planes due to weak demand, so they have been able to defer maintenance spending. The Aviation division has been General Electric’s (GE) best-performing business unit in recent quarters. Most of General Electric's businesses struggled in 2018, but GE Aviation had an incredible year. Phil shared that he had never experienced that attitude before at GE—and that improvements at the site were only accelerating.Across our businesses and around the world, we’re using lean to make real improvements in safety, quality, delivery, and cost. The introduction of the GE90 in 1995 and the GEnx in 2011 offered additional fuel burn improvements. The one bright spot at the company throughout these travails has been GE Aviation. In October, for example, Offshore Wind successfully installed the prototype for the Haliade-X, which already is breaking records for power production by a wind turbine. The aviation business will only grow in importance … Lufthansa Technik Details, Company Total Revenue (in $ million), Head Office, Aircraft Landing Gear and Brakes Major Market Areas and Its Competitors.