General Electric Co - Company Profile
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Business Description
General Electric Co (GE Aerospace) is an industrial conglomerate, which offers a wide range of products and services from aircraft engines and systems, healthcare systems and pharmaceutical diagnostics, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Through the integration of its engineering capabilities with software and analytics, the company assists companies in securing an efficient, reliable and safe work environment.
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R&D Overview
R&D efforts focus on enhancing existing products and services, developing new products and services to meet customers’ changing needs and requirements, and capturing market opportunities. GE is uniquely positioned to develop technologies that help decarbonize the energy sector and promote the reliability of and access to electricity. It focuses on advancing precision healthcare for faster diagnosis and treatment for more people in need by using fewer resources. GE focused on developing the future of flight, which continues to define how the aviation industry turns innovative to improve sustainability and efficiency. In FY2022, it spent US$2,813 million on R&D, which stood at 3.7% of the company’s total revenue, and grew 12.7% YoY. It operates two R&D facilities in Bengaluru, India and New York, the US. It has R&D collaboration with Forge Lab; Information Works to perform demonstrations for audiences; and Robotics and Autonomous Systems Lab for prototyping, designing, developing, and testing robots and autonomous systems.
Business Segments
Overview
Designs and produces commercial and military aircraft engines, electric power and mechanical aircraft systems, and integrated digital components. It also provides aftermarket services. Manufactures jet engines and turboprops for commercial airframes in regional, narrowbody and widebody categories. Also produces and markets engines through joint ventures with Safran Group and Raytheon Technologies Corporation. Manufactures jet engines for military airframes in tankers, helicopters and surveillance aircraft, fighters, bombers and marine applications. Provides maintenance, component repair and overhaul services, including sales of replacement parts. Also offers engine components, systems and services for commercial and military applications, includes avionics systems, flight efficiency and intelligent operation services, aviation electric power systems, aircraft structures and Avio Aero. Provides products and services including additive machines from Concept Laser and Arcam EBM, additive materials and additive engineering services through its consultancy brand, AddWorks. Views focused intellectual property strategies and protection of major aircraft engine design, manufacture, repair and product upgrade technologies as major strategies for this segment.
Performance
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Overview
Provides healthcare technologies to developed and emerging markets. It serves hospitals, pharmaceutical and biotechnology companies, medical facilities and life science research markets. Has expertise in drug discovery, medical imaging, patient monitoring and diagnostics, digital solutions, and biopharmaceutical manufacturing technologies and performance improvement solutions. Develops, manufactures, markets and services a wide range of products and solutions used in the diagnosis, treatment and monitoring of patients that is embraced in imaging, ultrasound, life care solutions and enterprise software and solutions. Offers computed tomography, magnetic resonance, molecular imaging, X-ray systems and complementary software and services, for use in general diagnostics, women’s health and image-guided therapies. Product portfolio in ultrasound includes high-frequency soundwave systems, and complementary software and services for use in diagnostics to a wide range of clinical settings. Life care solutions include clinical monitoring and acute care systems, and software and services for use in intensive care, diagnostic cardiology, anesthesia delivery and perinatal care. Enterprise software & solutions includes enterprise digital, consulting and healthcare technology management offerings for improving efficiency in healthcare delivery and expanding global access to advanced health care. Also researches, produces and markets imaging agents used during medical scanning procedures to highlight organs, tissue and functions inside the human body, to aid physicians in the early detection, diagnosis and management of disease through advanced in-vivo diagnostics. Views creating new products and solutions to improve patient and operational outcomes, and expanding existing offerings as major strategies for this segment.
Performance
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Overview
Provides products and services related to energy production. It serves power generation, government, industrial and other customers. Its products and technologies harness coal, oil, diesel, gas, nuclear and water resources to produce electric power. Offerings: gas and steam turbines, upgrade and service solutions, full balance of plant, and data-leveraging software; heavy-duty and aeroderivative gas turbines; steam power technology for fossil and nuclear applications. Also provides maintenance, service and upgrade solutions across total plant assets and over their operational lifecycle. Views restructuring its operations to dispose of non-core businesses, resizing the remaining businesses to align with market demand and repulsing these businesses with customers’ lifecycle experience as major strategies for this segment.
Performance
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Overview
Engineers and manufactures energy equipment and projects, grid solutions and digital services. Provides a comprehensive range of technology solutions to onshore and offshore wind, hydro and its wind turbine blade manufacturing businesses. Delivers technology and services for the onshore wind power industry by offering wind turbine platforms, and hardware and software to optimize wind resources; offers offshore wind turbine, Haliade X-12MW; and high voltage equipment, power electronics, automation and protection equipment. Also offers a portfolio of solutions and services, including the design, construction, management, installation, maintenance and operation of large and small hydropower solutions; and comprehensive asset management program to hydro power plant operators. Views investing in renewable energy, improving the efficiency and flexibility of its hydropower technology with digital solutions, and enhancing business with wind turbine product improvements, including larger rotors, taller towers and higher nameplate ratings as major strategies for this segment.
Performance
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Overview
Includes the results of the GE Digital business.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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