What Happened
GE Aerospace Emerges As Key Rival In Engine Services
RTX Corporation, formerly known as Raytheon Technologies Corporation, has reported a significant surge in its engine aftermarket sales, with a 21% year-over-year increase. This growth is driven by the need for maintenance, repairs, and replacement parts for engines already in service. Meanwhile, GE Aerospace has also seen substantial growth in its commercial engines and services segment, with a 21% increase in revenue. The competition between these two companies may signal a broader trend in the aerospace industry towards prioritizing aftermarket services. This article was first reported by Benzinga.