GE Aviation’s final order tally at the 2015 International Paris Air Show this week reached $19 billion worth of orders and commitments from airline customers.
That’s more orders than company leaders anticipated to begin the week, when GE Aviation President and Chief Executive Officer David Joyce said the expectation was to sign as much as $15 billion worth of deals.
Orders include jet engines made by GE Aviation and its joint ventures such as CFM International.
“We have a huge execution challenge, but we have been preparing for some time,” Joyce told international media at the show Monday.
Preparations include announcements for the opening of seven new parts and assembly factories, and research centers in the last seven years, including the Electrical Power Integrated Systems Research and Development Center opened at University of Dayton.
But this year also scored less new business than prior shows, as deals at the last Paris Air Show in 2013 totaled approximately $26 billion, according to GE. However, GE did not unveil any new engine products this year, and showcased the latest technologies that will be incorporated on its next two commercial engines preparing to enter service, according to industry experts.
“With over $19 billion worth of deals secured between GE and CFM, the market preference for their engines leads the way and the focus now for both companies is to execute and deliver on those commitments,” said Saj Ahmad, chief analyst for StrategicAero Research.com, which has offices in London and Dubai.
AerCap Holdings N.V. was one of the single biggest contracts landed by GE and CFM this week, when it ordered 200 CFM LEAP engines to power 100 737 MAX aircraft. The order is valued at $2.7 billion, according to GE Aviation.
The action in Paris brings GE Aviation’s backlog for jet engine orders to over $150 billion, which is unprecedented for the company.
Before the show started, the order book for jet engines and services from GE and its joint ventures stood at $140 billion, with more than 15,000 engine orders to fill.
“The biggest pressure is on CFM which has orders and commitments for over 9500 LEAP engines,” Ahmad said in an email. “With the massive investment CFM has made across the USA and France to support engine production for the LEAP family, the company has the footings it needs to deliver this record-breaking backlog.”
GE Aviation is headquartered in Evendale in suburban Cincinnati. It and the joint venture with the engine maker CFM International, based in West Chester Twp., employ more than 9,000 people in Southwest Ohio.