EVENDALE, OHIO -- GE Aviation expects 2011 revenues to surpass the 2010 revenues of $17.6 billion on robust engine deliveries and growing services volume.
Deliveries of commercial engines for GE and its partner companies will grow this year and in 2012, approaching record levels. In 2011, deliveries of commercial engines produced by GE Aviation, CFM International (50/50 joint company of GE and Snecma), and the Engine Alliance (50/50 joint company of GE and Pratt & Whitney) will grow approximately 10 percent over 2010 deliveries of 2000 engines.
Combined with GE's military engines, total engine deliveries in 2011 for GE Aviation and its partner companies is expected to reach 3,200 engines.
Also, GE Aviation and its partner companies anticipate record engine production rates in 2012, when total military and commercial deliveries are expected to exceed 3,350 engines.
Over the next three years, CFM expects annual engine deliveries of approximately 1,350 engines, driven by the continuing worldwide demand for single-aisle aircraft.
Meanwhile, engine deliveries for the largest engines (GE's GE90 and GEnx, and the Engine Alliance's GP7200) will nearby double in 20011 compared to the 200 engines delivered in 2009.
"We are well into the second year of a sustained recovery in aviation," said David Joyce, president and CEO of GE Aviation. "We are experiencing a healthy increase in deliveries while engine shop visits in 2011 will be up nearly 5 percent due to increase air traffic around the world."
Increased aircraft utilization rates are driving GE's engine services business with the backlog of long-term services contracts growing to $60 billion.
GE's long-time leadership in jet propulsion is reflected in its growing base of engines in airline service – the fastest in the industry. The installed base for engines produced by GE, CFM, and the Engine Alliance has reached 24,000 engines, and will surpass 30,000 engines by 2015.
GE is also investing aggressively in new-product introductions both in its engine and aviation systems businesses. Key GE Aviation technology initiatives in 2011 include:
*GEnx engine. The engine is completing its development and experiencing a rapid production ramp-up. The engine is expected to enter service this year on both the Boeing 787 and Boeing 747-8 aircraft.
*LEAP-X engine. Development is underway for this next-generation engine from CFM, which has been launched on two single-aisle aircraft: The COMAC C919 and the Airbus A320 neo (New Engine Option).
*Passport engine. GE's new engine for large business jets was launched this year for the Bombardier Global 7000 and Global 8000 business jets.
*GE-AVIC Civil Avionics Systems. The 50/50 joint venture between GE Aviation and Aviation Industry Corp. of China (AVIC) was formed earlier this year to develop and market integrated, open architecture avionics systems. The first product launch is with the COMAC 919.
GE Aviation's research & development expenditures in 2011 will exceed $1 billion, including a significant increase in the development of GE Systems products - from aircraft health management systems to satellite-guided flight path systems that will enhance fuel efficiency and more accurate aircraft arrival times.
GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, components and integrated systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings.