General Electric Analysis
What is General Electric?
Three standalone companies focused on aerospace, energy, and healthcare
Employees
10001+
Founded
1892
Industry
Renewable Energy
HQ Full Address
One Financial Center, Boston, Massachusetts, United States
Market Share
60.3%
Product Features & Capabilities
- Commercial and military aircraft engines
- Wind and gas turbines
- Medical imaging and diagnostic equipment
- Digital industrial solutions
- Energy management systems
Other Considerations
Approximately $32B in annual revenue for GE Aerospace; Approximately $33B in annual revenue for GE Vernova; Approximately $19B in annual revenue for GE HealthCare
Competitors
- Siemens AG - A German multinational company that operates in various sectors, including energy. Siemens is a major competitor of GE in the production of gas and steam turbines, generators, and renewable energy solutions.
- Schneider Electric - A French multinational corporation that specializes in energy management and automation solutions. Schneider Electric competes with GE in providing technologies for energy efficiency and sustainability.
- Mitsubishi Electric - A Japanese multinational electronics and electrical equipment manufacturing company. Mitsubishi Electric competes with GE in the energy sector, particularly in power generation and transmission technologies.
- ABB Ltd. - A Swiss-Swedish multinational corporation that operates in robotics, power, and automation technology. ABB is a key competitor in the energy sector, focusing on electrification and automation solutions.
- Emerson Electric Co. - An American multinational corporation that provides technology and engineering services for industrial, commercial, and consumer markets. Emerson competes with GE in automation solutions and energy management.
- Hitachi Energy - A subsidiary of Hitachi, focusing on power and energy solutions. Hitachi Energy competes with GE in the areas of grid solutions and renewable energy technologies.
Recent News
- GE Vernova's Financial Performance - GE Vernova, the company's energy division, reported $10.6 billion in revenue during the last quarter of 2024, marking a 5% increase from the previous year.
- Offshore Wind Business Challenges - GE's offshore wind segment faced significant losses, amounting to approximately $1.1 billion in 2023. However, the company is focusing on a $4 billion backlog, indicating potential future growth and recovery in this area.
- Improvements in Renewable Energy Losses - GE Vernova's renewable energy sector reduced its losses to $1.44 billion in 2023, an improvement from a $2.24 billion deficit in 2022.
- Corporate Restructuring - GE has announced plans to split into three public companies, focusing on aviation, healthcare, and energy.
Sustainability Initiatives
- Decarbonization Goals - GE aims to achieve net-zero carbon emissions for its operational emissions by 2030 and supports the industry's goal of net-zero by 2050.
- Sustainability Framework - GE Vernova, a part of GE, follows a sustainability framework focused on four pillars: Electrify, Decarbonize, Conserve, and Thrive.
- Aerospace Sustainability - GE Aerospace is committed to achieving net-zero carbon emissions by 2050, focusing on sustainable aviation technologies and practices.
- Carbon Capture Projects - GE is involved in projects aimed at integrating carbon capture technologies, such as a recent initiative funded by the U.S. Department of Energy.
- Partnerships for Sustainability - GE has formed partnerships, such as with AWS, to drive digital innovation and improve sustainability in operations, particularly in data centers.
- Comprehensive Reporting - GE publishes annual sustainability reports that detail their progress and strategies in sustainability, including their environmental, social, and governance (ESG) commitments.
