GE Aerospace raises full-year forecast after strong third-quarter results

The demand surge comes as aircraft manufacturers face delivery delays and supply chain issues, prompting airlines to keep older planes in service longer to maintain capacity needs—a trend that benefits companies like GE Aerospace that generate most commercial engine revenue from parts and maintenance services.

During Q3, services revenue grew by 32%. Internal shop visit revenue rose by 33%, while spare parts revenue increased by over 25%. The Commercial Engines & Services division saw a 27% increase in revenue to $8.9 billion year-on-year, with equipment unit volume rising by 33%. Material input from key suppliers was up by 35%.

To help address ongoing supply chain challenges, GE sent engineers to work directly with critical suppliers, which contributed to a boost in jet engine output—deliveries were up 33% year-on-year overall, including a record number of LEAP engines delivered (up by 40%).

GE secured several new engine orders during the quarter: Korean Air selected GEnX, GE9X, and CFM LEAP-1B engines as part of its commitment to purchase new Boeing jets; Cathay Pacific ordered an additional 28 GE9X engines; and earlier quarters included major orders from Qatar Airways and IAG Group following large Boeing aircraft purchases.

Total orders for Q3 reached $10.3 billion—a modest increase over last year but down from the second quarter’s total due to fewer exceptionally large deals.