Raytheon reported 1st quarter 2024 results (Jan, Feb, March 2024 is first quarter). 4/23/24 which beat estimates, always a good thing!  Let’s focus on one of the sectors of Raytheon, Pratt Whitney, which builds airplane engines and services them as well as builds auxiliary power units. Let’s see what their GTF Engine is all about!!!

 Whitey Pratt has installed 12,000 engines and has a backlog of 10,000 GTF Engine. GTFs, is the name of this engine and it has redesigned efficiency. At the heart of the GTF Engine (Geared Turbo Fan Engine)is a groundbreaking change of how power is delivered to aircraft.  It allows the fan to operate at lower speeds and the compressor and turbine to operate at higher speeds .  This reduces fuel consumption and reduces environmental impact in emissions as well as allowing aircraft to fly longer distances. This is a massive shift!  This engine has a 12 to 1 bypass ratio; looking at the front of the engine you can see it has a very large fan and a very small core (see YouTube video) https://www.youtube.com/watch?v=0eMEXTTigLE.  These designs make it the most fuel efficient engine in the world (about 20% reduction in fuel)  with the largest bypass ration and low weight and it offers greater range capability to the airplane. Before we needed 4 engines, then 3, now only 2 engines to cross the Atlantic.  

These engines have a dispatch reliability of 99.96 which means these engines have a 999.6 flights dispatch on time because of engine reliability. These engines have 10,000 order commitments of sales for the company.  Also, the GTF Engines offer a quieter cabin experience for passengers as well as a quieter noise level at airports from engine noise.

Now, in the beginning of the engine and for engines sold to India it was discovered that some contaminated metal powder was in the metal parts of some part such as hubs and rotors. This was discovered but because these engines are usually sold with maintenance contract which is 51% covered expense by Pratt Whitney the engine parts were examined and replaced, though grounding some aircraft.

From the press readings I have come across in my research, it appears these were some kinks that are part of new designs and sometimes occur in new engines and are only resolved over time. It appears that this will cost Pratt Whitney 3 to 3.5 billion in expenses over next several years as it is estimated that 600 to 700 engines would need to be removed to be repaired. See article here …https://www.mobilityoutlook.com/features/troubled-gtf-engines-to-cost-about-7-bn-for-pratt-whitney/

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