Business Breakdowns

GE Aerospace: Full Throttle - [Business Breakdowns, EP.234]

41 snips
Nov 14, 2025
Guest
Ramesh Narayanaswamy
Ramesh Narayanaswamy, co-founder of Tourbillon Partners, shares his expertise on GE Aerospace, a pure-play aerospace business. He dives into the complexities of the aerospace supply chain and the unique dynamics of aircraft engine manufacturing. Listeners will learn about GE's impressive revenue scale, the importance of aftermarket services, and how military programs differ from commercial ones. Ramesh also discusses the significant role of the LEAP engine and the future growth potential amid industry challenges.
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INSIGHT

Scale Of GE’s Engine Fleet

  • GE Aerospace sells jet engines across commercial and military markets with ~70,000 engines in service globally.
  • Commercial engines dominate revenue and profitability driven by narrowbody and widebody franchises.
INSIGHT

Dominant Narrowbody Position

  • The LEAP engine gives GE near-sole-source positions on key narrowbody platforms like the 737 MAX and COMAC C919.
  • Overall, GE holds roughly 70% share of the narrowbody engine market.
INSIGHT

Services Drive Predictability

  • About 70% of GE's revenues come from services, which are highly predictable due to regulatory-mandated shop visits.
  • The aftermarket is the most profitable and stable revenue stream for GE.
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