GE Aerospace, the engine manufacturer and MRO provider, has released its Q4 and full-year results for 2024, revealing robust growth across all its divisions.
In the fourth quarter of 2024, orders grew by 46 percent to reach USD 15.5 billion, while revenue climbed 14 percent to USD 10.8 billion. For the entire year of 2024, orders totaled USD 50.3 billion, marking a 32 percent increase, and revenue reached USD 38.7 billion, a 9 percent rise.
The company also announced share repurchase plans of USD 7 billion in 2025 and increased the dividend by 30 percent.
GE Aerospace has a global network of dedicated MRO facilities equipped to handle services from routine inspections to complete engine overhauls with locations in the US, Europe, and Asia.
In an effort to streamline delivery times and address supply chain challenges for engines and parts, the company reported a 26 percent increase in material inputs during the latter half of 2024.
It has also integrated its engineering and supply chain teams into one division.
The company announced that the US Federal Aviation Administration and European Union Aviation Safety Agency have certified an upgraded durability kit for their LEAP 1-A engines which could translate to longer periods between required maintenance for these engines.
Looking forward, GE Aerospace anticipates double-digit growth in 2025 and is actively investing in research and development, with a focus on technologies like hybrid-electric and open fan propulsion systems.
PHOTO: GE AEROSPACE
A GE Aerospace LEAP engine undergoing a dust ingestion test.
