GE Aviation Forms Joint Venture with Woodward to Develop Aircraft Engine Fuel Systems
GE Aviation has teamed up with Woodward in a joint venture to design and develop a new fuel system that will be used on GE’s commercial aircraft engines. This joint venture will source, supply, and service the fuel systems which include fuel inlets and fuel nozzles for the GE90, GEnx, GE9X, and other future GE commercial engines. Woodward will receive $240 million and work as the primary supplier for control systems solutions along with components.
GE Aviation has greatly increased the production rates for jet engines and components over the last five years as large commercial engine production more than doubled to almost 500 engines in 2015. There is currently a backlog of over 1,600 high thrust engines and is expected to continue high production rates in the future. GE Aviation is a subsidiary of the multinational conglomerate General Electrics. Headquartered in Evendale, Ohio, GE Aviation is currently one of the top leading aircraft engine suppliers that provide their products to the majority of commercial aircraft.
Primary competitors include Rolls-Royce and Pratt & Whitney. The company was founded in 1917 and currently has over 37,800 employees, meeting over $18 billion in yearly revenue. GE Aviation’s products include turbojets, light and low-bypass turbo fans, high-bypass turbo fans, turbo props, prop fans, turbo shafts, vehicle propulsions, and industrial aero derivative and marine propulsion.
Woodward, Inc. is the world’s largest and oldest independent designer, manufacturer, and service provider of control systems and control system components for aircraft engines. Their products include fuel pumps, engine controls, actuators, air valves, fuel nozzles, electronics, industrial engines, turbines, and power generation. Founded in 1870, the company is headquartered in Rockford, Illinois with over 7,000 employees. Woodward, Inc. has 32 plants and offices in 15 countries and has met over $2 billion in yearly revenue.
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Posted on May 28, 2015