Pratt & Whitney, a division of United Technologies Corp UTX, recently announced its intention to increase the price of its fuel-efficient PurePower Geared Turbofan (GTF) engines across its product line effective this year.
Pratt & Whitney’s GTF engines involve less fuel consumption, lower emissions, reduced engine noise and lower operating costs. Airlines already expect to witness the benefits of this technology, which is likely to result in savings of millions of dollars in fuel expenses and maintenance costs. The PurePower GTF engines further reinforce Pratt & Whitney's technological capabilities and commitment to deliver exceptional customer value.
There is a growing demand for these GTF engines as they deliver exceptional performance and impressive test results. The PurePower engine family has already completed more than 15,000 hours and 30,000 cycles of testing. The increase in demand of these engines is likely to augment the revenues.
Pratt & Whitney is among the world’s leading suppliers of aircraft engines for the commercial, military, business jet and general aviation markets. Pratt & Whitney’s Global Services segment provides maintenance, repair and overhaul services, including the sale of spare parts, as well as fleet management for large commercial engines.
Based in Hartford, CT, United Technologies – the parent firm of Pratt & Whitney, provides high-end technology products and services to the building systems and aerospace industries worldwide. The company serves various end markets such as aerospace, defense and commercial construction. The business diversification allows United Technologies to remain profitable amid a challenging macroeconomic environment.
United Technologies currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include Swire Pacific Limited SWRAY, Danaher Corp DHR and Compass Diversified Holdings CODI, each carrying a Zacks Rank #2 (Buy).
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