Pratt & Whitney, one of the operating segments of diversified business conglomerate United Technologies Corp (UTX), recently rolled out three new engines on three platforms across three continents. With this, Pratt & Whitney scripted history in the aviation industry as the first ever firm to achieve such a unique feat.
The engine roll-outs were done by premier aviation companies such as Gulfstream Aerospace Corporation, Mitsubishi Aircraft Corporation and Embraer SA (ERJ). Gulfstream launched its new family of G500 and G600 business jets, which were powered exclusively by Pratt & Whitney Canada’s PurePower PW800 engine. These engines are a perfect fit for high-flying, fast, long-range business jets and use the tested core technology, which has already been used in the Pure Power family of geared turbofan commercial engines.
Also, Mitsubishi Aircraft rolled out its first Mitsubishi Regional Jet (MRJ) in Nagoya, Japan, which was powered by Pratt & Whitney PurePower PW1200G engines. Pratt & Whitney’s PurePower engine series has been developed through years of research and development providing four important aspects – less fuel consumption, lower emissions, reduced engine noise and of course condensed operating cost. Embraer launched the KC-390 tanker, an International Aero Engines V2500-E5-powered military transport and aerial refuelling aircraft, in which Pratt & Whitney is the major collaborator.
These consecutive engine roll-outs further justify Pratt & Whitney’s technological capabilities and commitment to deliver exceptional customer value.
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 provide maintenance, repair and overhaul services, including the sale of spare parts, as well as fleet management services for large commercial engines.
United Technologies, the parent company of Pratt & Whitney, provides high-end technology products and services to building systems and aerospace industries worldwide. This diversified business conglomerate serves various end markets such as aerospace, defense and commercial construction. The business diversification allows the company to remain profitable during tough economic times.
United Technologies currently has a Zacks Rank #3 (Hold). Other stocks that look promising include CLARCOR Inc (CLC) and Compass Diversified Holdings (CODI), both carrying a Zacks Rank #2 (Buy).
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