Who Owns GE Aerospace?

GE Aerospace's origins trace to 1917, when General Electric established an aircraft engine division to develop engines for military aviation during World War I. General Electric had been founded in 1892 through the merger of Edison General Electric Company and Thomson-Houston Electric Company, and its entry into aviation reflected the company's broader strategy of applying its electrical engineering expertise to emerging technologies.

General Electric's early aviation work focused on superchargers for piston aircraft engines, which improved engine performance at high altitudes. During World War II, General Electric played a critical role in U.S. aviation by manufacturing superchargers for the B-17 Flying Fortress and other military aircraft. The company also developed the first American jet engine, the I-A, in 1942, based on designs shared by British engineer Frank Whittle.

Following World War II, General Electric invested heavily in jet engine development, competing with Pratt and Whitney for U.S. military and commercial engine contracts. The company developed the J47 engine, which powered the F-86 Sabre fighter, and the J79, which powered the F-104 Starfighter and B-58 Hustler. GE's military engine business provided the technological foundation for its subsequent entry into commercial aviation.

In 1971, General Electric formed CFM International, a 50/50 joint venture with France's Snecma (now Safran Aircraft Engines), to develop the CFM56 engine for commercial aviation. The CFM56 became one of the most successful jet engines in history, powering the Boeing 737 and Airbus A320 families and accumulating more than 30,000 engines delivered. CFM International remains one of the most important commercial aviation engine manufacturers in the world.

GE's commercial engine business grew significantly through the 1980s and 1990s, with the development of the GE90 engine for the Boeing 777, which set a world record for thrust at its introduction. The GE90 and its successor, the GEnx (which powers the Boeing 787 Dreamliner and Boeing 747-8), established GE as the leading engine supplier for wide-body commercial aircraft.

In the 2010s, CFM International developed the LEAP engine as the successor to the CFM56, designed for the Boeing 737 MAX and Airbus A320neo families. The LEAP engine uses advanced materials including ceramic matrix composites and 3D-printed fuel nozzles to achieve significant improvements in fuel efficiency compared to the CFM56. LEAP engine deliveries have grown substantially as Boeing 737 MAX and Airbus A320neo production has ramped up.

General Electric began restructuring its conglomerate structure in the late 2010s following financial difficulties stemming from its GE Capital financial services business and challenges in its power generation business. H. Lawrence Culp Jr. became CEO in October 2018 and initiated a comprehensive restructuring program that included asset sales, debt reduction, and the eventual decision to break up the conglomerate into three independent companies.

In November 2021, General Electric announced its plan to separate into three independent companies focused on aviation, healthcare, and energy. GE HealthCare was spun off in January 2023. GE Vernova was spun off on April 2, 2024, completing the breakup. GE Aerospace retained the GE name and NYSE: GE ticker as the continuing entity, reflecting the aviation business's status as the core of the original General Electric.

As an independent company, GE Aerospace released its first annual report in early 2025, reporting revenues of approximately $38.7 billion in fiscal year 2024. The company's installed base of approximately 70,000 commercial and defense engines drives a large and growing aftermarket services business, which provides maintenance, repair, and overhaul services and generates recurring revenue.