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Price · 1Y
$319.80
Thesis
GE Aerospace is the pure propulsion company that emerged from GE's three-way breakup — the largest installed base of commercial jet engines in the world, paired with a services annuity that compounds for decades after each engine is sold. Through CFM International, its joint venture with Safran, it co-owns the narrowbody-engine duopoly that powers most single-aisle aircraft.
The quality here is the aftermarket: shop visits, spare parts, and service agreements on an enormous flying fleet generate high-margin, recurring cash that dwarfs original-equipment economics. Military propulsion (fighter and rotorcraft engines) adds defense exposure. The risk is aerospace cyclicality and execution on engine programs and the maintenance ramp.
Catalysts
- LEAP delivery and shop-visit ramp
- Departures / aftermarket demand recovery
- Military engine programs (T901, next-gen propulsion)
- Margin and free-cash-flow trajectory
Recent events
Material filings, federal awards, and regulatory activity. Impact is scored against market cap.