MTU Aero Engines and General Electric Sign Strategic Agreement
MTU Aero Engines, a German aircraft engine manufacturer, recently concluded discussions and entered into a strategic agreement with GE Aviation, a US engine manufacturer. The deal revolves around the maintenance, repair, and overhaul of the GEnx turbine center frame, one of GE’s newest products. This new contract is considered significant for MTU Aero Engines for the sole reason that it will make the company the only provider of MRO services for all GEnx TCFs (turbine center frames) in the entire GE Aviation global network.
Given the fact that the GEnx currently powers the up and coming Boeing 787 Dreamliner and is also the only engine or the Boeing 747, this solidifies a business relationship and a source of revenue for years to come. The agreement is estimated to be worth over 3 billion euros in sales throughout the life cycle of the engine. The GEnx is also becoming increasingly popular on many of Boeing’s aircraft. MTU Aero Engines has benefited greatly over the past five years by being involved in the development and production of the TCF, along with corresponding aftermarket services.
MTU Aero Engines, formerly MTU Munchen, is a publicly-traded German aerospace manufacturer that develops products and provides services for both military and civil aircraft engines. Since its inception in 1934, the company has since grown to its current size at over 2.7 billion euros in annual revenue. Of this amount, 268 million euros is operating income.
Together with its subsidiary Vericor Power Systems, the company employs over 8,000 people. The company has locations in Vancouver, British Columbia, Poland, and China, in addition to Germany. MTU Aero Engines is currently partnered with Pratt & Whitney, International Aero Engines, and General Electric for several series of civil engines. It is partnered with General Electric, Rolls-Royce, and Turbo-Union for military engines.
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