The big engine OEMs GE Aerospace and Pratt & Whitney have been making good progress on solving some of the supply chain issues, but they will remain for months to come. In fact, it will take until the end of this year until the production of structural castings will have recovered from staff shortages. Engine makers are progressing but not out of the woods.
Both General Electric and Raytheon reported their FY22 results today, reporting stronger sales and profits as their defense business units benefit from the war in Ukraine. But also the commercial engine business is doing better than a year ago as air travel has recovered further during 2022. This is reflected in more shop visits for existing engines while demand for new ones remains strong in line with what the airframers are seeing.
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