General Electric has completed the separation of its businesses. GE Aerospace, the US engine manufacturer, is now listed independently on the New York Stock Exchange (NYSE) under the symbol “GE”.
This transition represents a strategic repositioning for the conglomerate, which has been divided into three distinct entities, each with its own unique area of focus. The first to undergo this transformation was GE HealthCare in January 2023, now followed by GE Vernova, which concentrates on energy-related activities. GE Aerospace will focus solely on the aerospace sector.
“With the successful launch of three independent, public companies now complete – today marks a historic final step in the multi-year transformation of GE,” Henry Lawrence Culp Jr., GE Aerospace’s Chairman and CEO, stated. “I am tremendously proud of our team, their resilience, and their dedication to achieving this defining moment.”
GE Aerospace is a leading provider of propulsion, services, and systems for the aerospace industry.
The CFM56 LEAP engine is the cornerstone of GE’s commercial business, which is produced in collaboration with the French engine manufacturer Safran. This engine is used to power the Boeing 737 MAX and Airbus A320neo narrowbody airliners, which are among the most popular commercial aircraft in service today.
GE’s engines are also used in military aviation and are installed in various aircraft, including the F-15EX and F-16 jets, as well as newer designs like the South Korean KAI KF-21 Boramae fighter, which is currently under development.
The manufacturer’s global footprint includes over 44,000 commercial engines and around 26,000 military engines.
In 2023, the US engine manufacturer generated around $32 billion in adjusted revenue, 70% through services and the aftermarket engine market. GE Aerospace is confident that it will achieve nearly $10 billion in operating profit by 2028.