What's Happening?
Pratt & Whitney has announced improvements in the turnaround times for its GTF engine shop visits, reducing them to under 120 days, with expectations to decrease further to 110 days. Previously, these visits averaged up to 160 days. The company attributes
the improvement to investments in its aftermarket network, totaling at least $400 million over recent years. Pratt & Whitney's GTF MRO network includes 21 engine shops, with three new facilities set to open in New Zealand, Japan, and the UAE. The company is transitioning to support a growing GTF fleet, which is expected to double the size of its legacy products.
Why It's Important?
The reduction in shop visit times is crucial for airlines relying on Pratt & Whitney's GTF engines, as it enhances operational efficiency and reduces downtime. This development is significant for the aviation industry, which is recovering from the pandemic and facing supply chain challenges. The expansion of Pratt & Whitney's MRO network and the anticipated growth of the GTF fleet indicate a robust demand for these engines, which could lead to increased revenue and market share for the company. The strategic investments also reflect the company's commitment to supporting its customers and maintaining its competitive edge in the aerospace sector.
What's Next?
Pratt & Whitney plans to continue investing in its aftermarket network to further reduce shop visit times and support the expanding GTF fleet. The company has already announced about 1,500 orders this year, with a book-to-bill ratio greater than one, indicating strong demand. As the GTF fleet grows, Pratt & Whitney will need to ensure that its supply chain can meet the increased demand for materials and services. The opening of new engine shops in strategic locations will be critical to supporting this growth and maintaining customer satisfaction.
