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MarketScreener Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

GENERAL ELECTRIC COMPANY

(GE)
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General Electric : GE Aviation, U.S. Army near completion of FATE program; As part of program requirements, GE successfully tested two engines, multiple components

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10/14/2020 | 01:33pm EDT

LYNN, MA - GE Aviation, in coordination with the U.S. Army's Combat Capabilities Development Command (CCDC) - Aviation and Missile Center (AvMC), is nearing completion of the Future Affordable Turbine Engine (FATE) program, a multi-year initiative to develop a 5,000- to 10,000-shaft horsepower turboshaft engine.

The program is jointly funded by GE and the Army and was created to meet a series of aggressive weight, cost and performance goals. These include a 35 percent reduction in specific fuel consumption, an 80 percent improvement in power-to-weight ratio, a 20 percent improvement in design life and 45 percent reduction in production and maintenance costs relative to currently fielded legacy engines.

As part of the program requirements, GE has successfully tested two engines. GE has also completed several component tests, including the inlet particle separator, compressor, combustor and turbine. The full engine test program completed over 130 hours of testing and captured more than 2,200 steady-state data points.

'We're pleased with the results from engine and component testing, which completed all primary objectives,' said Harry Nahatis, VP and General Manager of GE Aviation's Rotorcraft and Turboprops Programs. 'Our FATE program has utilized GE's impressive stack of commercially-developed technologies and has enabled the most advanced turboshaft development engine in our history.'

Technologies developed and demonstrated under the FATE agreement will serve as the technology pipeline to meet next generation turboshaft engine requirements. These technologies are being incorporated into new engines, including GE's T901 engine, which the U.S. Army selected to reengine its Black Hawk and Apache fleet through the Improved Turbine Engine (ITE) program.

FATE technologies are also applicable for existing products such as the T700 engine, which has powered Black Hawks and Apaches around the world for the past four decades, and the military-qualified T408 engine, which is a contender for the Army Future Long Range Assault Aircraft (FLRAA).

ABOUT GE AVIATION

GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, components, integrated digital, avionics, electrical power and mechanical systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings and is part of the world's Digital Industrial Company with software-defined machines and solutions that are connected, responsive and predictive. For more information, visit us at http://www.ge.com/aviation. Follow GE Aviation on Twitter at http://twitter.com/GEAviation and YouTube at http://www.youtube.com/user/GEAviation.

For further information, contact: Nick Hurm 513.484.4450 nick.hurm@ge.com

CONTACT INFORMATION

If you are a member of the press and have additional questions, please contact us by e-mail.

GE AVIATION

GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, as well as integrated systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings. Follow GE Aviation on Twitter and YouTube.

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials (USD)
Sales 2020 79 090 M - -
Net income 2020 4 257 M - -
Net Debt 2020 19 481 M - -
P/E ratio 2020 18,1x
Yield 2020 0,52%
Capitalization 66 788 M 66 788 M -
EV / Sales 2020 1,09x
EV / Sales 2021 1,06x
Nbr of Employees 205 000
Free-Float 74,3%
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Number of Analysts 22
Average target price 8,97 $
Last Close Price 7,63 $
Spread / Highest target 70,4%
Spread / Average Target 17,5%
Spread / Lowest Target -34,5%
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H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
James S. Tisch Independent Director
Francisco D'Souza Independent Director
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