Welcome to our dedicated page for GE Aerospace news (Ticker: GE), a resource for investors and traders seeking the latest updates and insights on GE Aerospace stock.
GE Aerospace, a segment of General Electric Company (NYSE: GE), is a global leader in the design, manufacture, and service of aircraft engines. Founded in 1892 and headquartered in Boston, GE has a rich history tied to American inventor Thomas Edison. While GE operates in multiple industries including power, renewable energy, digital industry, and additive manufacturing, GE Aerospace remains its core business.
With nearly 70,000 commercial and military engines installed worldwide, GE Aerospace generates significant revenue from the recurring service and maintenance of these engines. The company's partnership with Safran in their CFM joint venture further solidifies its leadership in aerospace propulsion.
Recent achievements for GE Aerospace include significant deals and technological advancements. Notably, GE Aerospace retained its portfolio of intellectual property related to aerospace and defense technologies after a definitive agreement with Dolby Laboratories to acquire GE Licensing. This acquisition, valued at $429 million and expected to close by the end of fiscal year 2024, highlights GE Aerospace's focus on its core aerospace and defense markets.
In another major development, GE Vernova's Onshore Wind business, a part of GE's power and renewable energy segment, announced a landmark deal with Pattern Energy. This deal involves the supply of 674 wind turbines for the SunZia Wind project, set to be the largest wind project in the Western Hemisphere. This project is a testament to GE's commitment to renewable energy and showcases its ability to deliver large-scale, high-efficiency projects.
Moreover, GE Aerospace continues to innovate with products like the 3.6-154 wind turbine, which incorporates advanced AI-trained blade manufacturing processes. This turbine is built to meet U.S. market needs and is part of GE's strategy to drive quality and reliability across its fleet.
Financially, GE Aerospace is robust, leveraging its longstanding expertise and extensive global network to maintain a strong market position. The company's continuous investments in technology, such as the new manufacturing assembly line for its Onshore Wind business in Schenectady, New York, reflect its commitment to enhancing American manufacturing and supporting climate change goals.
GE Aerospace's mission to define the future of flight and bring innovative solutions to the aerospace and defense sectors is backed by its substantial workforce of 52,000 employees globally. The company's operations aim to provide affordable, reliable, sustainable, and secure energy solutions, reinforcing its leadership in the industry.
GE Digital has achieved AWS Industrial Software Competency status, highlighting its expertise in industrial software solutions. This recognition enables GE Digital to better support industrial firms in optimizing operations without requiring in-house data centers. The company is expanding its offerings on the AWS Marketplace, including the Proficy Historian for Cloud and upcoming Proficy Smart Factory MES and Operations Hub. GE Digital serves over 20,000 customers, aiming to drive efficiency, productivity, and sustainability in manufacturing and infrastructure.
GE Healthcare and Lantheus Holdings have announced that their Phase III clinical trial of the investigational radiotracer [18F]flurpiridaz has successfully met co-primary endpoints for detecting Coronary Artery Disease (CAD), exceeding 60% in both sensitivity and specificity. This trial demonstrated superior diagnostic efficacy compared to SPECT Myocardial Perfusion Imaging. With a half-life approximately 12 times longer than existing PET tracers, [18F]flurpiridaz could significantly improve patient access to PET MPI if approved.
GE has successfully completed testing on its second XA100 adaptive cycle engine in partnership with the U.S. Air Force at the Arnold Engineering Development Complex. This marks the final major milestone of the Air Force's Adaptive Engine Transition Program, initiated in 2016. The XA100 engine delivers significant improvements, including over 10% more thrust, 25% better fuel efficiency, and enhanced thermal management. GE is poised to transition to an Engineering and Manufacturing Development program, aiming to equip the F-35 with this advanced engine by the decade's end.
GE HealthCare is preparing for its transformation into a standalone public company following its spin-off from GE. This move is scheduled to be completed in the first week of January 2023. The newly formed Board of Directors boasts a mix of industry veterans, including Peter Arduini as CEO, who bring extensive expertise in healthcare innovation and management. An investor day is set for December 8, 2022, in New York, NY, to discuss the company's future direction. This strategic shift aims to enhance precision health innovation and patient care.
The Board of Directors of GE has declared a $0.08 per share dividend on outstanding common stock. This dividend will be payable on October 25, 2022, to shareholders of record as of the close of business on September 27, 2022. The ex-dividend date is September 26, 2022.
For over 125 years, GE has been a leader in industrial innovation, focusing on efficient and safe operations worldwide.
GE Aviation has inaugurated an $8 million Asia-Pacific Service Centre at Brisbane Airport, aimed at enhancing maintenance, repair, and overhaul services for customers in the Asia-Pacific region. This state-of-the-art facility will be the largest GE Aviation service center in the area, providing support for various aircraft systems, including those used by the Royal Australian Air Force. The center is expected to employ over 80 individuals and significantly contribute to the local economy while strengthening GE Aviation's service network in the region.
The European Commission's LIFE program has awarded GE Renewable Energy €3 million to develop a 245 kV g³ gas-insulated substation. This initiative, aimed at reducing greenhouse gas emissions, is part of GE's commitment to deliver SF₆-free technology, compliant with stricter EU regulations targeting a two-thirds reduction in F-gas emissions by 2030. Over 30 electrical utilities are adopting GE's g³ products, contributing to a potential decrease of over one million tons of CO₂ equivalent emissions annually. The new substation will support urban and offshore projects, enhancing the electric grid's sustainability.
Hyliion Holdings Corp (NYSE: HYLN) announced its acquisition of the KARNO hydrogen and fuel agnostic generator from GE Additive for approximately $37 million, comprising $15 million in cash and $22 million in stock. The KARNO generator is poised to enhance efficiency by over 20% compared to conventional generators and can operate on more than 20 fuels, including hydrogen. Expected to meet stringent emissions standards, this technology will be integrated into Hyliion's Hypertruck powertrain platform, advancing its mission in clean energy solutions for Class 8 trucks.
GE Renewable Energy's Grid Solutions business will unveil new technologies at CIGRE Session 2022, focusing on grid modernization, decarbonization, digitization, and electrification. The highlight includes the world's first SF6-free g3 circuit-breaker for 420 kV gas-insulated substations. GE emphasizes its commitment to advanced hardware and digital solutions to create efficient, resilient, and sustainable grids. Chief Technology Officer Vera Silva stated the global energy sector is undergoing a transformation, prompting innovative approaches to meet new challenges.
GE Digital announced that Ignitis Gamyba, Lithuania's largest power producer, will implement its OPM Production Planning solution. This software aims to minimize uncertainty, enhance power generation reliability, and reduce operational costs. By automating data transmission, the solution is expected to improve forecasting accuracy and planning efficiency. Ignitis Gamyba seeks to maximize electricity sales and reduce imbalances while ensuring stable power supply. CEO Rimgaudas Kalvaitis highlighted the software's potential to optimize production capacity and enhance shareholder benefits.
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