Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 6

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 7
Chunk 6
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4, which included funding that supports our advanced engine development research, classified programs and product procurement and maintenance in other engine lines.

Additionally, the DoD is focused on advanced combat, enhancing platform capability and groundbreaking technology primarily in classified programs, including support for the next generation T901 turboshaft engine and advanced engine architectures. In June 2024, GE Aerospace delivered two T901-GE-900 engines to Sikorsky for integration and testing aboard a UH-60 Black Hawk as part of the U.S. Army upgrade program. In addition, GE Aerospace was awarded a $1.1 billion contract to provide T700 series turbine engines to the U.S. Army through the first half of 2029.

Sales in units, except where noted202420232022Defense engines490 556 632 

SEGMENT REVENUE AND PROFIT202420232022Defense & Systems (D&S)$6,109 $5,927 $5,426 Propulsion & Additive Technologies (P&AT)3,370 3,034 2,563 Total segment revenue$9,478 $8,961 $7,989 Equipment$4,208 $4,000 $3,405 Services5,270 4,961 4,584 Total segment revenue$9,478 $8,961 $7,989 Segment profit$1,061 $908 $976 Segment profit margin11.2 %10.1 %12.2 %

10 2024 FORM 10-K

For the year ended December 31, 2024, segment revenue was up $0.5 billion, or 6%, and segment profit was up $0.2 billion, or 17%, compared to the year ended December 31, 2023.

Revenue increased in both D&S and P&AT. D&S revenue increased primarily due to services growth, improved pricing and additional volume in aircraft systems products. This increase was partially offset by lower engine deliveries. P&AT revenue increased, primarily due to higher output at Avio Aero and Unison and improved pricing.

Profit increased primarily due to services growth, improved pricing and prior year impacts from program costs. This increase was partially offset by incremental investments to support next generation products, inflation in our supply chain and lower deliveries of new engines.

For the year ended December 31, 2023, segment revenue was up $1.0 billion, or 12%,