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 Current, a Daintree company, has appointed Arctic Sales to represent its LED lighting and controls solutions for DOT and municipality applications in Alaska. Arctic Sales, with over 25 years of experience in lighting, will also manage Hubbell’s C&I Lighting business, following Current's acquisition in February. This partnership aims to provide seamless service in the growing lighting market, leveraging Arctic Sales' knowledge to adapt to evolving technologies. The collaboration seeks to enhance the roadway lighting sector in Alaska, benefiting both companies.
GE Healthcare has received FDA pre-market approval for its End-tidal (Et) Control software, enhancing general anesthesia delivery through precise oxygen and anesthetic agent targets. This software, previously available in Europe since 2010, is now the sole FDA-approved product of its kind in the U.S. It significantly reduces greenhouse gas emissions by up to 44% and operating room costs by 27%, while improving workflow efficiency. Annually, over 300 million surgeries necessitate general anesthesia, costing around $1.2 billion. The software will be available with the Aisys CS2 Anesthesia Delivery System in the coming months.
GE Aviation recently marked a significant milestone by achieving 400 million flight hours and 37 years of on-time delivery for its navigation database (NDB), serving over 14,000 aircraft globally. The NDB, tailored for each customer, includes more than 18,000 airports and offers 24/7 support. GE's advanced flight management systems (FMS) enhance operational efficiency and situational awareness for airlines. This achievement underscores GE's commitment to delivering reliable aviation solutions and continuous advancements in flight management technology.
The U.S. Air Force and GE initiated Phase 2 testing of the XA100 adaptive cycle engine on March 25, 2023, at the Arnold Engineering Development Complex. This engine is significant for the F-35’s future, having completed Phase 1 in November 2021. The XA100 includes innovations that enhance thrust by over 10% and fuel efficiency by 25%, while also being compatible with Sustainable Aviation Fuel. GE Edison Works oversees the development of this ground-breaking engine, which aims to reduce operational costs and ensure enhanced combat capabilities for the F-35.
GE Renewable Energy has unveiled the world's first 420 kV, 63 kA g³ gas-insulated substation (GIS) circuit-breaker prototype. This innovation marks a significant advancement in the power industry, offering a viable alternative to SF6 gas. The g³ technology reduces greenhouse gas emissions by over 99%, contributing to cleaner electrical grids. The prototype, showcased to European transmission utilities, is expected for commercial release in 2023. This move aligns with GE's commitment to accelerating grid decarbonization through innovative solutions.
GE Healthcare has initiated a Phase III clinical trial for a new PET radiopharmaceutical aimed at aiding the evaluation of adult patients with suspected Parkinsonian syndromes. This trial follows the success of DaTscan, a leading SPECT agent, to enhance diagnostic imaging options. The study, taking place in France, compares PET technology's higher resolution against SPECT for better visualization of dopamine transporters. Additionally, a SPECT agent study will begin in the U.S. This expansion supports GE's commitment to improving patient care and aligns with the growing need for Parkinson’s disease diagnostics.
GE Renewable Energy’s Grid Solutions and BOND Civil & Utility Construction have secured an EPC contract from Empire Offshore Wind for the Empire Wind 1 project. This venture will deliver a digital onshore substation and integrate an 816-MW wind power project into the New York Power Grid. Upon completion, it will provide energy to over 500,000 homes in New York and contribute to the state's renewable energy goals, including a 70% generation target by 2030 and a zero-emission electricity sector by 2040.
GE Healthcare has partnered with AliveCor to integrate data from the KardiaMobile 6L personal ECG device into its MUSE cardiac management system. This collaboration enables physicians to access patient ECGs remotely, enhancing diagnostic capabilities and continuity of care. MUSE is already utilized by 87% of the top cardiac hospitals in the U.S. The integration aims to improve patient outcomes by reducing hospitalizations linked to cardiac conditions like atrial fibrillation. The KardiaMobile 6L provides medical-grade ECGs that help physicians monitor heart health conveniently.
GE Healthcare announced its plans to launch the Edison Digital Health Platform, a vendor-agnostic digital health solution designed to improve healthcare delivery efficiency and reduce IT burdens. At HIMSS 2022, the company revealed that the platform aims to aggregate data from various sources, enabling better patient care management through enhanced analytics and AI tools. Collaboration with ecosystem participants is underway to evaluate the platform's functionality, which promises to facilitate seamless app integration and improve clinicians' workflow.
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