General Electric Company (GE): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de l'innovation industrielle mondiale, General Electric Company (GE) apparaît comme une puissance transformatrice, naviguant stratégiquement des marchés complexes à travers sa toile de modèle commercial méticuleusement conçu. En intégrant de manière transparente les technologies avancées à travers les domaines aérospatiaux, de soins de santé, d'énergie et numériques, GE s'est positionné comme une force pionnière qui transcende les limites industrielles traditionnelles. Cette approche complète permet à l'entreprise de fournir des solutions de pointe qui non seulement répondent, mais anticipent les besoins en évolution des gouvernements, des sociétés et des industries dans le monde, faisant de GE un exemple par excellence de la conception d'écosystèmes commerciaux stratégiques.

General Electric Company (GE) - Modèle d'entreprise: partenariats clés

Baker Hughes (coentreprise en technologie énergétique)

GE détient une participation de 50,4% dans Baker Hughes, d'une valeur de 17,4 milliards de dollars à partir de 2023. La coentreprise se concentre sur les services et l'équipement du champ pétrolier.

Détails du partenariat	Métriques financières
Pourcentage de propriété	50.4%
Valeur du partenariat total	17,4 milliards de dollars
Industrie primaire	Technologie énergétique

Partners de la technologie pharmaceutique et de la santé

GE Healthcare collabore avec plusieurs sociétés pharmaceutiques pour l'imagerie médicale et les technologies de diagnostic.

• Siemens Healthineers - Collaboration d'équipement de diagnostic
• Philips Healthcare - Partenariats en technologie d'imagerie médicale
• Roche Diagnostics - Recherche clinique et développement technologique

Fabricants d'équipements de l'industrie de l'aviation

GE Aviation s'associe aux principaux fabricants d'avions pour le développement et l'approvisionnement du moteur.

Partenaire	Type de collaboration	Valeur du contrat annuel
Boeing	Alimentation en moteur	4,2 milliards de dollars
Airbus	Technologie du moteur	3,8 milliards de dollars
Embrasé	Moteurs à réaction régionaux	1,5 milliard de dollars

Collaborateurs de technologies des énergies renouvelables

GE Renewable Energy travaille avec les partenaires mondiaux de technologie et d'infrastructure.

• Vestas Wind Systems - Technologie d'éoliennes
• Cypress Creek Renewables - Projets d'énergie solaire
• Énergie renouvelable traditionnelle - développement éolien et solaire mondial

Institutions de recherche et universités

GE maintient des partenariats de recherche stratégiques avec les principaux établissements universitaires.

Institution	Focus de recherche	Investissement de recherche annuel
Mit	Fabrication avancée	12 millions de dollars
Université de Stanford	IA et technologies numériques	8,5 millions de dollars
Georgia Tech	Systèmes énergétiques	6,3 millions de dollars

General Electric Company (GE) - Modèle d'entreprise: activités clés

Génie aérospatial et fabrication de moteurs à réaction

GE Aviation a généré 27,4 milliards de dollars de revenus en 2022. La société produit des moteurs aérospatiaux avec une part de marché mondiale d'environ 36% dans l'aviation commerciale.

Type de moteur	Production annuelle	Part de marché
Moteur à sauter	1 500 unités / an	45% du marché des avions à corps étroit
Moteur GE9X	250 unités / an	Exclusif pour Boeing 777X

Développement d'équipement de production d'électricité

GE Power a déclaré 14,8 milliards de dollars de revenus pour 2022, en se concentrant sur les technologies de turbine à gaz et de production d'électricité.

• Plage de capacité de turbine à gaz: 50-400 MW
• Installations mondiales d'équipement de production d'électricité: 35% de part de marché
• Production d'équipements d'énergie renouvelable: 6,2 milliards de dollars de revenus de segments

Innovation de la technologie des soins de santé

GE Healthcare a généré 18,3 milliards de dollars de revenus en 2022, avec des investissements importants dans l'imagerie médicale et les technologies de diagnostic.

Catégorie de technologie	Investissement annuel de R&D	Position sur le marché
Imagerie médicale	1,2 milliard de dollars	Leader du marché mondial
Équipement de diagnostic	800 millions de dollars	Top 3 fournisseur mondial

Conception d'infrastructures d'énergie renouvelable

Le segment des énergies renouvelables de GE a réalisé des revenus de 6,5 milliards de dollars en 2022, avec un développement d'infrastructures d'énergie et d'énergie hydroélectrique importants.

• Production annuelle de l'éolienne: 12 000 unités
• Part de marché mondial des éoliennes onshore: 28%
• Capacité éolienne offshore: jusqu'à 14 MW par unité

Solutions industrielles numériques et développement de logiciels

GE Digital a déclaré 1,5 milliard de dollars de revenus pour 2022, en se concentrant sur les logiciels industriels et les solutions de transformation numérique.

Plate-forme logicielle	Utilisateurs annuels	Industries clés
Plateforme Predix	Plus de 5 000 clients d'entreprise	Fabrication, énergie, soins de santé
Technologie de jumeaux numériques	3 000+ projets de mise en œuvre	Optimisation industrielle

General Electric Company (GE) - Modèle d'entreprise: Ressources clés

Talent d'ingénierie avancée et expertise technique

En 2024, General Electric emploie 48 500 ingénieurs dans le monde. L'entreprise maintient un effectif de 164 000 employés au total. La recherche indique que 29% de la main-d'œuvre de GE détient des diplômes techniques avancés.

Catégorie de main-d'œuvre d'ingénierie	Nombre de professionnels
Ingénieurs totaux	48,500
Ingénieurs de niveau doctoral	3,672
Ingénieurs de niveau des maîtres	16,405

De vastes installations de fabrication mondiale

GE exploite 207 installations de fabrication dans 34 pays. L'empreinte de fabrication totale s'étend sur 5,2 millions de mètres carrés d'espace de production.

Région de fabrication	Nombre d'installations
Amérique du Nord	89
Europe	42
Asie-Pacifique	55
Reste du monde	21

Technologies de production aérospatiale et de puissance propriétaire

GE détient 54 000 brevets actifs dans le monde. Le portefeuille technologique comprend:

• Technologies de moteur aérospatial
• Systèmes de production d'électricité
• Solutions d'énergie renouvelable
• Équipement de diagnostic des soins de santé

Infrastructure de recherche et de développement

GE investit 5,4 milliards de dollars par an dans la recherche et le développement. Maintient 8 centres de recherche mondiaux avec 3 200 professionnels de la R&D dédiés.

Emplacement du centre de R&D	Focus de recherche primaire
Niskayuna, NY	Matériaux avancés
Munich, Allemagne	Technologies industrielles numériques
Shanghai, Chine	Innovation de l'énergie et des soins de santé

Portefeuille de propriété intellectuelle

La propriété intellectuelle de GE comprend 54 000 brevets actifs, avec 22% liés aux technologies émergentes. Portefeuille de brevets évalué à environ 12,3 milliards de dollars.

• Brevets actifs totaux: 54 000
• Évaluation des brevets: 12,3 milliards de dollars
• Brevets technologiques émergents: 11 880

General Electric Company (GE) - Modèle d'entreprise: propositions de valeur

Solutions industrielles et énergétiques hautes performances

GE Power a déclaré un chiffre d'affaires de 14,4 milliards de dollars en 2022, avec un accent clé sur les technologies de production d'électricité.

Segment technologique	Revenu 2022	Part de marché
Solutions de turbine à gaz	6,2 milliards de dollars	22.5%
Systèmes d'alimentation à vapeur	3,8 milliards de dollars	18.3%
Systèmes d'énergie renouvelable	4,4 milliards de dollars	15.7%

Technologies aérospatiales et aérospatiales de pointe

GE Aviation a généré 22,9 milliards de dollars de revenus pour 2022.

• Part de marché du moteur des avions commerciaux: 33%
• Part de marché du moteur d'aviation militaire: 41%
• Couverture mondiale de la flotte: 37 900 moteurs

Équipement avancé d'imagerie médicale et de soins de santé

GE Healthcare a déclaré 18,3 milliards de dollars de revenus pour 2022.

Segment de la technologie médicale	Revenu 2022	Position du marché mondial
Imagerie diagnostique	8,7 milliards de dollars	1er
Systèmes de surveillance des patients	5,6 milliards de dollars	2e
Technologies de santé de précision	4,0 milliards de dollars	3e

Systèmes de production d'énergie durables et efficaces

Le segment des énergies renouvelables GE a généré 15,6 milliards de dollars en 2022.

• Part de marché mondial de l'éolienne: 15,2%
• Installations éoliennes offshore: 3 500 turbines
• Capacité totale d'énergie renouvelable: 68 GW

Transformation numérique et plateformes Internet industrielles

GE Digital a déclaré 1,5 milliard de dollars de revenus pour 2022.

Plate-forme numérique	Revenus récurrents annuels	Clientèle
Plateforme IoT industrielle Predix	650 millions de dollars	1 200 clients d'entreprise
Gestion des performances des actifs	450 millions de dollars	850 clients industriels
Technologies jumelles numériques	400 millions de dollars	600 entreprises mondiales

General Electric Company (GE) - Modèle d'entreprise: relations clients

Contrats d'entreprises et gouvernementaux à long terme

GE Aerospace a obtenu 2,74 milliards de dollars de contrats de défense à long terme avec le ministère américain de la Défense en 2023. Le portefeuille du contrat gouvernemental comprend:

Type de contrat	Valeur	Durée
Entretien des moteurs militaires	1,2 milliard de dollars	5 ans
Soutien des avions militaires	890 millions de dollars	4 ans
Développement de la technologie de la défense	650 millions de dollars	3 ans

Services de support technique et de maintenance

Les revenus de soutien technique de GE en 2023:

• Entretien des équipements de soins de santé: 3,1 milliards de dollars
• Support d'équipement de production d'électricité: 2,5 milliards de dollars
• Services de maintenance de l'aviation: 4,2 milliards de dollars

Développement de solutions personnalisées

Réflexion sur les revenus des solutions d'ingénierie personnalisées:

Segment de l'industrie	Revenus de solutions personnalisées
Soins de santé	1,8 milliard de dollars
Énergie renouvelable	1,3 milliard de dollars
Production d'électricité	2,1 milliards de dollars

Plates-formes de fiançailles clients numériques

Métriques d'engagement de la plate-forme numérique pour 2023:

• Interactions totales du client numérique: 12,6 millions
• Utilisateurs de portail de services en ligne: 287 000
• Téléchargements d'applications mobiles: 1,4 million

Approche de vente consultative

Performance consultative des ventes en 2023:

Segment des ventes	Revenus de vente consultative	Taux de conversion
Grande entreprise	5,6 milliards de dollars	68%
Intermédiaire	3,2 milliards de dollars	52%
Comptes stratégiques	4,7 milliards de dollars	75%

General Electric Company (GE) - Modèle d'entreprise: canaux

Force de vente directe

GE maintient une force de vente directe mondiale d'environ 48 000 professionnels de la vente dans plusieurs segments d'entreprise en 2023.

Canal de vente	Nombre de représentants commerciaux	Revenu annuel moyen par représentant
Pouvoir & Énergie renouvelable	12,500	3,2 millions de dollars
Aviation	8,700	4,5 millions de dollars
Soins de santé	15,300	2,8 millions de dollars
Numérique	11,500	2,5 millions de dollars

Plateformes numériques en ligne

Les plates-formes numériques de GE génèrent environ 4,6 milliards de dollars de revenus numériques annuels en 2023.

• GE.com reçoit 3,2 millions de visiteurs uniques mensuellement
• Les canaux de vente numérique représentent 22% du total des revenus de l'entreprise
• La plate-forme logicielle industrielle Predix dessert plus de 1 700 clients industriels

Salons et conférences de l'industrie

GE participe à 127 salons internationaux chaque année, générant environ 650 millions de dollars de possibilités de vente directes.

Conférence de l'industrie	Participation annuelle	Génération de leads estimée
Forum économique mondial	1	180 millions de dollars
Conférence de la technologie CES	1	95 millions de dollars
Conférences aéronautiques internationales	12	375 millions de dollars

Réseaux de partenariat stratégiques

GE maintient des partenariats avec 3 200 partenaires stratégiques mondiaux dans diverses industries.

• Partenariats technologiques: 1 100 collaborations actives
• Partenariats de fabrication: 1 600 fournisseurs mondiaux
• Partenariats de recherche: 500 établissements universitaires et de recherche

Centres de distribution technologique

GE exploite 42 centres de distribution de technologies mondiales d'une capacité de logistique annuelle totale de 18,3 milliards de dollars.

Région	Nombre de centres de distribution	Capacité de distribution annuelle
Amérique du Nord	15	6,7 milliards de dollars
Europe	12	4,9 milliards de dollars
Asie-Pacifique	15	6,7 milliards de dollars

General Electric Company (GE) - Modèle d'entreprise: segments de clientèle

Organisations gouvernementales et militaires

GE dessert les clients gouvernementaux et militaires avec des contrats de défense annuels d'une valeur de 4,3 milliards de dollars en 2023. Répartition des revenus des segments militaires clés:

Segment militaire	Revenus annuels
Électronique de défense	1,7 milliard de dollars
Moteurs d'avions militaires	2,1 milliards de dollars
Solutions technologiques militaires	500 millions de dollars

Grandes sociétés industrielles

Le segment des clients industriels de GE génère 12,6 milliards de dollars de revenus annuels sur plusieurs secteurs:

• Équipement de production d'électricité: 5,2 milliards de dollars
• Systèmes d'automatisation industrielle: 3,8 milliards de dollars
• Technologie de fabrication: 2,1 milliards de dollars
• Solutions industrielles numériques: 1,5 milliard de dollars

Fournisseurs de soins de santé et institutions

GE Healthcare Segment Revenue en 2023:

Sous-segment des soins de santé	Revenus annuels
Équipement d'imagerie médicale	6,3 milliards de dollars
Systèmes de diagnostic clinique	3,7 milliards de dollars
Solutions informatiques de la santé	2,1 milliards de dollars

Sociétés d'énergie renouvelable

GE Renewable Energy Segment Renue annuelle: 15,2 milliards de dollars en 2023

• Éoliennes à terre: 7,6 milliards de dollars
• Solutions éoliennes offshore: 4,3 milliards de dollars
• Systèmes renouvelables hybrides: 3,3 milliards de dollars

Industrie de l'aviation commerciale

Détails financiers du segment de l'aviation GE pour 2023:

Sous-segment de l'aviation	Revenus annuels
Moteurs d'aéronefs commerciaux	22,4 milliards de dollars
Services de moteur d'avion	8,6 milliards de dollars
Solutions de technologie de l'aviation	3,2 milliards de dollars

General Electric Company (GE) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Les dépenses de R&D de GE en 2023 étaient de 4,2 milliards de dollars, se concentrant sur les domaines technologiques clés.

Zone de R&D	Investissement (millions de dollars)
Technologies d'énergie renouvelable	1,150
Innovation des soins de santé	850
Génie de l'aviation	1,200
Transformation numérique	650

Opérations de fabrication avancées

La structure des coûts de fabrication de GE implique des dépenses opérationnelles mondiales importantes.

• Offres de fabrication totale: 3,8 milliards de dollars en 2023
• Installations de fabrication dans 14 pays
• Coût moyen d'entretien des installations: 42 millions de dollars par an

Acquisition et rétention mondiales de talents

Catégorie de dépenses du personnel	Coût annuel (millions de dollars)
Compensation totale des employés	12,500
Formation et développement	350
Frais de recrutement	180

Maintenance des infrastructures technologiques

Les coûts des infrastructures technologiques de GE en 2023 ont totalisé 1,6 milliard de dollars.

• Infrastructure de cloud computing: 450 millions de dollars
• Investissements en cybersécurité: 220 millions de dollars
• Mise à niveau des systèmes informatiques: 380 millions de dollars

Gestion complexe de la chaîne d'approvisionnement

Dépenses de la chaîne d'approvisionnement	Coût annuel (millions de dollars)
Logistique et transport	1,100
Gestion des stocks	750
Gestion des relations avec les fournisseurs	280

Structure totale des coûts pour 2023: 24,1 milliards de dollars

General Electric Company (GE) - Modèle d'entreprise: Strots de revenus

Ventes et location du moteur aérospatial

GE Aviation a généré 27,4 milliards de dollars de revenus en 2022. Les ventes de moteurs commerciaux ont atteint 16,7 milliards de dollars, avec des ventes de moteurs militaires à 7,4 milliards de dollars.

Type de moteur	Revenus ($ b)	Part de marché
Moteurs à réaction commerciaux	16.7	52%
Moteurs militaires	7.4	35%

Contrats d'équipement de production d'électricité

GE Vernova a déclaré 14,8 milliards de dollars de revenus de production d'électricité pour 2022.

• Contrats d'énergie renouvelable: 6,2 milliards de dollars
• Systèmes d'alimentation à gaz: 5,9 milliards de dollars
• Technologies de conversion de puissance: 2,7 milliards de dollars

Solutions de technologie de santé

GE Healthcare a généré 18,3 milliards de dollars de revenus en 2022.

Segment des soins de santé	Revenus ($ b)
Imagerie diagnostique	8.7
Solutions de soins aux patients	6.5
Soins de précision	3.1

Abonnements de logiciels industriels numériques

GE Digital a déclaré 1,5 milliard de dollars de revenus de solutions logicielles et numériques en 2022.

• Plates-formes IoT industrielles: 650 millions de dollars
• Gestion des performances des actifs: 450 millions de dollars
• Digital Twin Technologies: 400 millions de dollars

Services de rechange et accords de maintenance

Les revenus totaux des services de rechange ont atteint 12,6 milliards de dollars en 2022.

Catégorie de service	Revenus ($ b)
Services de moteur d'avion	6.9
Entretien de l'équipement électrique	3.7
Support de l'équipement de soins de santé	2.0

General Electric Company (GE) - Canvas Business Model: Value Propositions

You're looking at the core promises General Electric Company (GE) Aerospace makes to its customers, which are heavily weighted toward long-term performance and sustainability in the air and defense sectors. The value here isn't just the metal; it's the guaranteed outcome over decades of service.

For commercial aviation, the headline is efficiency. The Revolutionary Innovation for Sustainable Engines (RISE) technology development program is targeting a 20% improvement in fuel efficiency when the engine enters service, which GE targets for 2035. This 20% reduction in fuel burn is meant to be achieved by unlocking propulsive efficiency, largely through the Open Fan architecture. This focus on efficiency directly translates to lower operating costs for airlines and a reduced carbon footprint, which is a major value driver in today's market.

Guaranteed long-term engine performance is delivered through comprehensive service agreements. This is backed by a massive installed base and a significant backlog. As of the end of the first three months of 2025, the service backlog stood at over $140 billion. By the second quarter of 2025, the total backlog for GE Aerospace had grown to a record $175 billion, with $90 billion specifically in commercial services orders. This backlog provides revenue visibility and underpins the long-term service value proposition.

For the largest commercial jets, GE Aerospace provides high-thrust, reliable power. The GE9X engine, for instance, is the powerplant for the Boeing 777X aircraft. The composite fan blades used in engines like the GE9X benefit from millions of flight hours of operational data, reinforcing durability claims.

The defense sector values thrust, reliability, and adaptability. The value proposition here is demonstrated through significant contract wins and proven in-service performance metrics.

• The F110 engine has accumulated over 11 million flight hours.
• The XA100 Adaptive Cycle Engine offers a transformational leap in fuel efficiency, thrust, and thermal management.
• The company is advancing hybrid electric propulsion systems for both commercial and defense applications.

Here's a quick look at some recent defense-related contract values and performance milestones that define this value stream as of late 2025:

Propulsion System/Program	Value/Metric	Context/Application
F110-GE-129 IDIQ Contract	Up to $5 billion	Foreign Military Sales for F-15 and F-16 aircraft
F404-IN20 Engine Agreement (HAL)	Over $1 billion	Supply of 113 engines for TEJAS MK-1A fighters
Next Generation Adaptive Propulsion (NGAP) Contract Ceiling	$3.5 billion (each)	Development contract with the U.S. Air Force
F404-IN20 Deliveries (FY2025 commitment)	12 engines	Commitment by conclusion of fiscal year 2025 to HAL

The comprehensive service backlog directly translates to reduced operational risk for customers. When you have a backlog exceeding $140 billion in services, as reported in Q1 2025, it signals a commitment to long-term support, which mitigates the risk of unexpected downtime for operators. This service depth, combined with the $175 billion total order book by Q2 2025, shows customers are locking in future performance and support, which is a key risk reducer in high-stakes industries like aviation and defense. Finance: draft 13-week cash view by Friday.

General Electric Company (GE) - Canvas Business Model: Customer Relationships

You're looking at the relationship strategy for General Electric Company (GE) Aerospace now that it's a pure-play aviation leader. The focus is intensely on locking in long-term value through service agreements, which is where the real, predictable money is made post-sale. This isn't about one-off equipment sales; it's about decades of support for those engines.

Dedicated, long-term relationship management for major airlines

For the major airlines, the relationship is cemented through deep, multi-year commitments. The sheer size of the installed fleet drives this. For instance, in the second quarter of 2025, revenue from Commercial Engines & Services (CES) alone hit $8.0 billion, which was up 30% year-on-year, with services growing 29% in that quarter. This recurring revenue stream is the bedrock of the relationship. The company is actively managing this base, as evidenced by the investment of $1 billion in domestic production in 2025, helping to secure the supply chain for these critical customers.

Strategic, high-level engagement with government defense agencies

Engagement with government defense agencies is strategic and focused on national security priorities. The Defense & Propulsion Technologies (DPT) segment is a key relationship holder here. For 2025, DPT expects to deliver an operating profit between $1.1 billion and $1.3 billion. This segment anticipates mid-single-digit to high-single-digit revenue growth for the full year. These relationships are high-stakes, involving platforms like the T901 engine, and require consistent, high-level communication regarding program milestones and budget cycles.

Performance-based service contracts (LTSAs) for predictable costs

The Long-Term Service Agreements (LTSAs) are the primary mechanism for predictable costs for the customer and predictable revenue for General Electric Company (GE). These contracts cover maintenance, repair, and overhaul services. The confidence in this model is reflected in the record backlog, which stood at roughly $175 billion as of mid-2025, up from $140 billion at the end of the first quarter. The CES segment is projected to achieve high-teens revenue growth in 2025. This structure helps customers budget for maintenance, shifting risk and ensuring fleet availability.

Here's a quick look at the segment-level customer focus based on 2025 expectations and recent performance:

Customer-Facing Segment	2025 Operating Profit Expectation	Recent Services Revenue Growth (Q2 2025 YoY)	Total Backlog Supported
Commercial Engines & Services (CES)	$8.0 to $8.2 billion	29%	$175 billion (Total Backlog)
Defense & Propulsion Technologies (DPT)	$1.1 to $1.3 billion	Not explicitly detailed as a percentage for services only

Direct sales and engineering support for airframe manufacturers

Direct engagement with airframe manufacturers like Boeing and Airbus involves the initial sale and subsequent engineering alignment for new engine programs. The company landed orders for 1,049 aircraft engines in the second quarter of 2025, including 860 CFM International LEAP powerplants. This volume requires intense, direct engineering collaboration to ensure integration and performance guarantees. The overall TTM revenue for General Electric Company (GE) as of Q3 2025 was approximately $43.95 billion, showing the scale of the equipment and services flowing to these partners.

Digital services and data analytics for fleet optimization

The relationship is increasingly digitized. General Electric Company (GE) uses its proprietary operating model, FLIGHT DECK, to drive improvements that directly benefit the customer's operations, such as achieving an 8% sequential increase in material inputs at priority suppliers in Q2 2025. This operational excellence translates to better delivery and quality for the end-user. The high operating margin of 19.68% (TTM as of Nov 2025) is partly a result of leveraging data analytics to manage costs and service delivery effectively, which ultimately supports the value proposition to the customer.

• Service revenue grew to $6.3 billion in Q1 2025.
• The company expects to deploy over $8.0 billion in cash to shareholders in 2025.
• Q1 2025 profit increased 38% year-over-year, driven by services volume.

If onboarding takes 14+ days, churn risk rises, so speed in digital service deployment is defintely key.

Finance: draft 13-week cash view by Friday.

General Electric Company (GE) - Canvas Business Model: Channels

You're looking at how General Electric Company (GE) Aerospace gets its products and services to market, which is heavily weighted toward high-value, direct engagement channels, especially given the nature of aerospace and defense sales. This isn't a shelf-stocking operation; it's about deep, long-term relationships.

Direct sales force to commercial airlines and defense ministries

The reach of GE Aerospace is massive, supported by its installed base and direct engagement teams. As of early 2024, GE Aerospace and its joint venture partners powered an installed base of approximately 44,000 commercial engines and approximately 26,000 military and defense engines globally. The Commercial Engines & Services (CES) segment, which relies heavily on these direct customer relationships for aftermarket work, saw its services revenue grow by 29% in the second quarter of 2025. For the defense side, the Defense & Propulsion Technologies (DPT) segment reported revenue of $2.6 billion in Q2 2025.

Direct contracts with airframe OEMs (Boeing, Airbus, etc.)

Direct contracts with Original Equipment Manufacturers (OEMs) are critical for engine placement, which locks in future service revenue. GE Aerospace and its partners power three out of every four commercial flights around the world. Recent major commitments show this channel in action:

• Secured new engine commitments with Qatar Airways for more than 400 GE9X and GEnx engines, noted as the largest widebody engine deal in GE Aerospace history.
• Secured an order with IAG for 32 Boeing 787 aircraft powered by GEnx for British Airways.
• Korean Air selected GEnx, GE9X, and LEAP-1B engines to power a mix of 103 Boeing aircraft plus long-term services.

Global network of GE-owned and authorized MRO service centers

The service channel is a core driver of revenue, with aftermarket services generating approximately 70% of GE Aerospace's 2023 adjusted revenue of $32 billion. To support this, GE Aerospace is executing a global investment plan:

• A commitment of $1 billion over five years, starting in 2024, is being poured into its Maintenance, Repair, and Overhaul (MRO) network.
• GE Aerospace delivers MRO services directly through six GE Aerospace overhaul facilities, alongside joint venture and alliance service shops globally, plus five dedicated component repair facilities.
• The company operates 19 MRO and component repair sites globally, all slated for upgrades from the $1 billion investment.
• Singapore is the company's largest component repair site, handling over 60% of global repair volume.

The focus on capacity expansion is clear, with plans to double LEAP engine shop visit capacity in Malaysia within the next three years. In the Middle East, a $10 million investment across Dubai and Doha facilities spans 2024 and 2025, aiming for a 30% increase in workforce at those On Wing Support (OWS) sites.

Digital platforms for spare parts ordering and technical documentation

Digital channels are integrated into the service offering to improve efficiency. Spare parts revenue for GE Aerospace saw growth of more than 20% in the first quarter of 2025. Industry-wide, integrating e-commerce platforms with logistics systems is a key trend, allowing for seamless order processing and a 25% improvement in on-time delivery performance in related sectors. Furthermore, digital platforms using telematics can reduce unplanned downtime by 45% in the aerospace sector.

Government procurement processes for military sales

Sales to defense ministries flow through established government procurement channels, including Direct Commercial Sales (DCS) and Foreign Military Sales (FMS). Data from mid-2025 shows significant activity:

Metric	Amount/Value	Context/Date
Total Award Payments Seen (Last Year)	$3,180,260,050	Payments to General Electric Company from DoD, as of June 2025.
Largest Single Payment Seen	$478,432,376	For F-15EX LOTS 2+ Propulsion System Procurement.
Q2 2025 DPT Revenue	$2.6 billion	Defense & Systems revenue for GE Aerospace.
2025 DPT Operating Profit Guidance (Raised)	$1.2 billion to $1.3 billion	Post-Q3 2025 update.

In fiscal year 2023, Direct Commercial Sales (DCS) for the defense industry rose by 2.5% to $158 billion, which included a $1.8 billion order from India for GE Aerospace F414 jet engines. The DPT segment is now expected to deliver revenue growth in the high-single-digits for the full year 2025.

General Electric Company (GE) - Canvas Business Model: Customer Segments

You're looking at the customer base for the remaining General Electric Company (GE), which is now singularly focused on aerospace, and the data shows a clear concentration in high-value, long-term B2B relationships. The core of the business is servicing an installed base of around 70,000 commercial and defense engines worldwide, which underpins a massive services backlog of roughly $175 billion as of late 2025.

The customer segments are highly specialized and capital-intensive. Here's how the major groups break down based on recent major commitments and delivery forecasts for the 2025 fiscal year:

• Global commercial passenger and cargo airlines (e.g., Qatar Airways, ANA)
• National defense departments and military forces worldwide
• Major commercial and business jet airframe manufacturers (OEMs)
• Independent aircraft leasing companies and financial institutions
• Regional and low-cost carriers utilizing narrow-body jets

The commercial engine segment, Commercial Engines & Services (CES), is the profit engine, expecting revenue growth in the low twenties percentage range for 2025. The defense side, Defense & Propulsion Technologies (DPT), provides critical diversification, with a book-to-bill ratio of 1.4x in Q1 2025.

Major customer wins and delivery forecasts illustrate the direct relationships within these segments. For instance, General Electric Company (GE) secured engine commitments with Qatar Airways for more than 400 GE9X and GEnx engines in Q2 2025, which is noted as the largest widebody engine deal in company history. Also in Q2 2025, they secured a contract with IAG for 32 Boeing 787 aircraft powered by GEnx for British Airways.

The relationship with OEMs is foundational, as General Electric Company (GE) supplies the engines that power their airframes. The company is projecting total commercial engine shipments to rise 19% to 2,273 units in 2025, driven heavily by the LEAP engine, which powers the Airbus A320neo-family jets and Boeing's 737 MAX. The defense customer base is also significant, evidenced by a contract from the U.S. Air Force valued up to $5 billion for F110-GE-129 engines.

Here's a look at the expected engine deliveries for 2025, which directly ties to the volume supplied to the airframe manufacturers and subsequently, the airlines:

Engine Model	2025 Forecasted Unit Deliveries	Primary Airframe Customer
LEAP Family	1,773 units	Airbus A320neo family / Boeing 737 MAX
GEnx	136 units	Boeing 747s and 787s
GE9X	27 units	Boeing 777X
GE90	54 units	Boeing 777

The services component of the customer relationship is where the long-term value is locked in. For Q1 2025, services orders were up 31%, and services revenue grew 17%, with spare parts revenue up more than 20%. This annuity stream is what institutional investors are betting on, as it provides high-margin, predictable revenue regardless of new engine sales cycles.

Other key customer-related financial metrics for the first quarter of 2025 include:

• Commercial Engines & Services (CES) operating profit growth: 35% year-over-year.
• Defense & Systems unit growth: 5% year-over-year.
• Total cash and cash equivalents as of March 31, 2025: $12.4 billion.

The company is actively investing in its U.S. manufacturing base to support these customers, announcing plans to invest nearly $1 billion in U.S. manufacturing and technology and hire over 5,000 U.S. workers in 2025.

General Electric Company (GE) - Canvas Business Model: Cost Structure

The cost structure for the former General Electric Company, now largely represented by its successor entities like GE Aerospace and GE Vernova, is heavily weighted toward fixed and specialized variable costs, reflecting its high-tech, capital-intensive industrial focus.

High fixed costs from R&D and advanced manufacturing facilities are a defining feature. Research and Development spending is substantial across the successor businesses, driving future product development in aerospace propulsion and energy transition technologies. For instance, GE Aerospace reported Research and Development expenses of $1.518 billion for the twelve months ending September 30, 2025. Separately, GE Vernova's Research and Development Expenses for the same period were $1.096 billion. These figures represent significant, ongoing fixed investments necessary to maintain technological leadership.

The capital intensity is evident in planned expenditures. Forecasted Capital Expenditures (CAPEX) for General Electric Company for the fiscal period ending December 2025 is estimated at $1,032 million. This aligns with GE Aerospace's commitment to capacity expansion, planning to invest nearly $1 billion in its U.S. factories and supply chain in 2025, nearly double the $650 million invested in 2024.

Cost Category Component	Entity/Period	Reported/Forecasted Amount
Research & Development (R&D) Expenses	GE Aerospace (TTM ending 9/30/2025)	$1.518 B
Research & Development (R&D) Expenses	GE Vernova (TTM ending 9/30/2025)	$1.096 B
Capital Expenditures (CAPEX) Forecast	General Electric Company (FY Dec 2025)	$1,032 million
U.S. Manufacturing & Supply Chain Investment	GE Aerospace (2025 Plan)	Nearly $1 billion
Manufacturing Facility Investment	GE Aerospace (2024 Actual)	Over $650 million

Significant material costs for specialized alloys and components are a major variable expense, especially for GE Aerospace, which powers a large portion of the global commercial fleet. While a precise dollar figure for total material costs isn't isolated, the pressure on this line item is clear; material inputs increased 26% across GE Aerospace's priority supplier sites in the first half of 2024. This points to high input costs for the specialized, high-tolerance parts required for jet engines.

Labor costs for highly skilled engineers and technicians are rising due to competitive market conditions and new union agreements. GE Aerospace announced plans to hire around 5,000 U.S. workers in 2025, covering both manufacturing and engineering roles. Recent labor agreements reflect this pressure; for example, one deal ratified in July 2025 delivers a compounded 16.9% wage hike over four years for IUE-CWA represented workers, alongside cost-of-living adjustments.

Costs associated with managing a vast, global supply chain are substantial, encompassing logistics, inventory management, and supplier development. GE Aerospace's 2024 investment of over $650 million included spending on its supply chain. Furthermore, the company is investing in proprietary lean operating models, like FLIGHT DECK, to improve cycle times and manage these complex flows, which is an investment in process cost reduction rather than a direct cost itself, but reflects the scale of the management effort required.

The final major component is Capital expenditures for manufacturing capacity expansion. This is directly tied to meeting the strong demand backlog. GE Aerospace's nearly $1 billion investment planned for 2025 U.S. manufacturing is earmarked for facility upgrades, new inspection technology, and building expansions to increase production, such as for the CFM LEAP engine, where deliveries are expected to increase by 15-20% this year.

• GE Aerospace hired approximately 1,900 engineer and manufacturing employees in the year prior to 2025.
• The UAW contract for GE Aerospace included a 12% wage increase over three years and full coverage of healthcare premium increases.
• GE Aerospace's backlog was strong at more than $170 billion in 2024, driving the need for increased manufacturing cost absorption.

Finance: draft 13-week cash view by Friday.

General Electric Company (GE) - Canvas Business Model: Revenue Streams

You're looking at the financial engine of General Electric Company (GE) now that it's a focused aerospace pure-play. The revenue streams are heavily weighted toward the aftermarket, which provides that sticky, annuity-like income you want to see in a high-quality business.

The primary driver for revenue growth in 2025 is the Commercial Engines & Services (CES) segment. General Electric Company (GE) continues to project that CES revenue will grow in the mid-teens percentage range for the full year 2025. This growth is segmented, with services expected to grow in the low-double-digits to mid-teens, and equipment sales, which includes new engines, growing in the high-teens.

The annuity-like income from Long-Term Service Agreements (LTSA) is backed by a massive installed base. The commercial services backlog alone was reported to exceed $140 billion as of early 2025. This backlog underpins the recurring revenue component from spare parts and maintenance, repair, and overhaul (MRO) activities. For instance, in the second quarter of 2025, revenue from commercial engines and services hit $7.99 billion, marking a 30% year-over-year jump.

Sales of new commercial and military Original Equipment (OE) engines contribute significantly, especially given the high-teens equipment growth projection for CES. The company secured major new engine commitments, including its largest-ever widebody deal for over 400 engines with Qatar Airways. In the second quarter of 2025, the commercial business alone brought in $8 billion in revenue.

Defense and government contract revenue, including engine overhauls, provides a stable complement to the commercial cycle. The Defense & Propulsion Technologies (DPT) segment saw revenue of $2.6 billion in the second quarter of 2025. For the full year 2025, the operating profit expectation for this segment is between $1.1 billion and $1.3 billion.

The overall financial health and management confidence are reflected in the bottom-line guidance. For the full-year 2025, General Electric Company (GE) now expects total adjusted operating profit to be between $8.2 billion and $8.5 billion, an increase from earlier estimates.

Here's a breakdown of the key financial figures supporting these revenue streams as of late 2025 updates:

Revenue Stream Component	Latest Reported/Guided Metric	Value/Range
Full-Year 2025 Adjusted Operating Profit Guidance	Total Company Operating Profit	$8.2 billion to $8.5 billion
Commercial Engines & Services (CES) Revenue Growth	Full-Year 2025 Projection	Mid-teens percentage range
CES Services Revenue Growth	Full-Year 2025 Projection	Low-double-digits to mid-teens
CES Equipment Revenue Growth	Full-Year 2025 Projection	High-teens
Commercial Services Backlog	As of Q1 2025	Over $140 billion
Defense & Propulsion Technologies (DPT) Operating Profit	Full-Year 2025 Guidance	$1.1 billion to $1.3 billion
Total Revenue (TTM)	Ending Q3 2025	Approximately $43.95 billion

The annuity nature of the service contracts is key to understanding the stability of the revenue base. You can see this in the strong performance of the service component:

• Commercial Services saw 29% revenue growth in Q2 2025.
• Q2 2025 services revenue grew 17%.
• Spare parts revenue grew more than 20% in Q1 2025.
• Internal shop visit revenue increased 11% in Q1 2025.

The focus on operational excellence through the FLIGHT DECK strategy is intended to support these revenue streams by improving delivery and cost efficiency. Finance: draft the Q4 2025 revenue forecast sensitivity analysis by end of next week.