GE Aerospace designs, builds and services jet engines and aircraft systems for airlines, plane makers and armed forces around the world. Through CFM International, a 50-50 venture with France's Safran, it makes the LEAP engine, the only engine on Boeing's 737 MAX and one of two offered on Airbus's A320neo family. Its other units make avionics and electrical power systems for civil and military aircraft. Most of its revenue comes from repairs, spare parts and long-term service deals that airlines buy over the decades each engine stays in use, with the work done in its own and partner shops. GE Aerospace traces to General Electric, founded in 1892, and is based in Evendale, Ohio.
Company Size
10,001+
Company Stage
Grant
Total Funding
$1B
Headquarters
Evendale, Ohio
Founded
1892
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General Electric will receive up to £33m in public funding to keep jet-engine maintenance work at Prestwick on the Ayrshire coast, the company said on Monday. The money comes from UK, Scottish and local government sources. The funding aims to protect 850 jobs and add 150 more. GE is also committing £27m of its own money. Prestwick services half of GE's engines for Boeing's 787. Plant manager Andy Prow said that without the support, GE would probably have grown at lower-cost sites abroad, such as Brazil, Taiwan and Poland. The money will fund a 5,110m² building, expanding the site by roughly 20%. Prow said further expansion may be needed, as the 787 is not expected to reach peak production until the late 2030s.
GE Aerospace shares have lost 1.1% over the past six months, holding at $308.37. The S&P 500 gained 13.5% in the same period. The company has grown sales at an 18.1% compounded annual rate over five years, ahead of the average industrials company. Earnings per share grew faster, at 32.2% a year, which suggests it became more profitable per share as it expanded. Its free cash flow margin averaged 18.7% over five years, among the best in the industrials sector. That leaves room to invest in new products, return capital to investors, and consolidate the market in downturns. The stock trades at 36.5 times forward earnings.
GE Aerospace to invest £30m in Prestwick engine maintenance site. GE Aerospace is to invest £30m to expand and modernise its Prestwick site, part of the company's commercial engine maintenance, Why? Free to subscribe, no paywall, daily business news digest. GE Aerospace is to invest £30m to expand and modernise its Prestwick site, part of the company's commercial engine maintenance, repair and overhaul (MRO) network. The project is designed to strengthen capacity and operational flow at the South Ayrshire site. Its centrepiece is a new 55,000 sq ft building, and the work is being delivered on an accelerated schedule, with full operations targeted for the first quarter of 2028. The expansion follows more than two years of analysis and planning involving GE Aerospace, the Ayrshire Growth Deal and regional stakeholders. GE Aerospace plans to hire around 150 workers over the next five years. According to Scottish Enterprise, which announced the investment, GE Aerospace's £30m is supported by £27m from the Ayrshire Growth Deal, along with a planned £6m from Scottish Enterprise. Scottish Enterprise describes the combined package as a planned £57m investment. That figure equals the GE Aerospace and Ayrshire Growth Deal sums added together; the announcement does not say whether the planned £6m from Scottish Enterprise is included in the £57m total or comes on top of it. Of the £27m from the Ayrshire Growth Deal, £18m comes from the UK Government, £8m from the Scottish Government and £1m from South Ayrshire Council. The public funding will support site development, enabling works and facility fit-out. Andy Prow, site leader at GE Aerospace in Prestwick, said: "This investment reflects GE Aerospace's commitment to our customers and to the future of our Prestwick site. By expanding and modernising the facility with the help of government partners, we are improving capacity, operational flow and readiness for future demand, while helping hire and train additional workers from the area." Brian Connolly, leader of South Ayrshire Council, said: "This is a major milestone for the Ayrshire Growth Deal, which will significantly benefit South Ayrshire and the wider Scottish economy. The investment will retain high value skilled jobs, attract talent to the sector and reinforce Prestwick's position as a leading UK aerospace location, while creating attractive career opportunities for future generations in local STEM industries." Melanie Ward, UK Government Minister for Scotland, said: "With more than £18 million of UK Government funding we are unlocking private sector investment, boosting skilled jobs and helping drive good growth in every Scottish postcode. In total the UK Government is investing £32 million through the Ayrshire Growth Deal into the Prestwick Aerospace Cluster. This will help deliver a long-term future for Prestwick Airport, ensure the region is a leading UK hub for the sector and provide the next generation of Scottish engineers with a world-class career path right on their doorstep." Reuben Aitken, managing director, investment and international at Scottish Enterprise, said: "GE Aerospace's investment builds on decades of engineering expertise at Prestwick and the site's role within its global operations. By expanding capacity and enhancing productivity, it will strengthen the site's competitiveness, increase its already significant contribution to Scotland's exports and create new opportunities for skilled workers." In case you missed it: GE Aerospace's UK team currently numbers 4,100 employees. In 2026, the company has invested more than £7m in manufacturing and £19m in MRO in the UK. Alongside the expansion, GE Aerospace announced a £75,000 donation to Ayrshire College. The money will support new training equipment for students and apprentices, as well as a course designed to prepare students for careers in the wider aerospace industry. Around 150 apprentices and full-time students are expected to benefit.
GE Aerospace to invest £30m and create 150 Prestwick jobs. The announcement was made on Monday morning, October 12 (Image: NQ) A £30 million investment has been announced to expand and modernise a Prestwick aerospace site and bring more than 100 new jobs to the area over the next five years. The move from GE Aerospace is part of a larger £57 million partnership and will boost capacity at the maintenance, repair, and overhaul (MRO) facility. The investment includes the construction of a new 55,000 sq ft building and is supported by £27 million from the Ayrshire Growth Deal and a planned £6 million from Scottish Enterprise. Andy Prow, site leader at GE Aerospace (Image: NQ) Andy Prow, site leader at GE Aerospace in Prestwick, said: "This investment reflects GE Aerospace's commitment to its customers and to the future of its Prestwick site. "By expanding and modernising the facility with the help of government partners, we are improving capacity, operational flow and readiness for future demand, while helping hire and train additional workers from the area." The project is expected to be fully operational by early 2028. South Ayrshire Council leader Brian Connolly (Image: NQ) Brian Connolly, leader of South Ayrshire Council, said: "This is a major milestone for the Ayrshire Growth Deal, which will significantly benefit South Ayrshire and the wider Scottish economy. "The investment will retain high value skilled jobs, attract talent to the sector and reinforce Prestwick's position as a leading UK aerospace location, while creating attractive career opportunities for future generations in local STEM industries." Deputy First Minister Jenny Gilruth said: "This major expansion of GE Aerospace's operations at Prestwick is a real boost for the local economy, helping to create almost 150 new jobs. Deputy first minister Jenny Gilruth (Image: NQ) "It is also a vote of confidence in Scotland's workforce, and its support for this expansion clearly demonstrates its commitment to build on the strengths of its advanced manufacturing and engineering sectors, as well as stressing the importance of the aerospace sector. "Through our £103 million commitment to the Ayrshire Growth Deal, we will continue to work with partners to help transform and strengthen regional economic activity, creating good jobs and supporting growth in Scotland." In addition to the infrastructure investment, GE Aerospace has donated £75,000 to Ayrshire College to support training equipment and a new course for aerospace students and apprentices. The donation will benefit around 150 apprentices and full-time students, helping to address skills shortages in the industry and creating pathways into skilled employment. GE Aerospace employs about 4,100 people in the UK and has invested more than £7 million in manufacturing and £19 million in MRO in the UK in 2026 alone.
Prestwick aircraft repair facility given £57m investment to boost economy and create 150 jobs. News Jordan Shepherd Reporter and Nick Forbes Press Association Scotland 12:47, 12 Oct 2026 An aerospace company has announced a £57 million investment in aircraft maintenance facilities next to Prestwick Airport, which it says will create 150 new jobs over the next five years. Article continues below GE Aerospace is spending £30 million on the expansion and modernisation of its maintenance, repair and overhaul (MRO) site in the South Ayrshire town. This will include the construction of a new 55,000 square foot building. Article continues below The project is being supported by £27 million from the Ayrshire Growth Deal, along with a planned £6 million investment from Scottish Enterprise. Article continues below 138205441828 GE Aerospace said the upgrade will boost capacity and "operational flow" at the site, enabling it to better support customers across the firm's commercial MRO network. The work is slated for completion by the first quarter of 2028. Andy Prow, site leader at GE Aerospace in Prestwick, said: "This investment reflects GE Aerospace's commitment to our customers and to the future of our Prestwick site. "By expanding and modernising the facility with the help of government partners, we are improving capacity, operational flow and readiness for future demand, while helping hire and train additional workers from the area." You May Like Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info South Ayrshire Council leader Brian Connolly described the investment as a "major milestone" for the Ayrshire Growth Deal, which will "significantly benefit" the local and national economy. "The investment will retain high value skilled jobs, attract talent to the sector and reinforce Prestwick's position as a leading UK aerospace location, while creating attractive career opportunities for future generations in local STEM industries," he added. GE Aerospace has also announced a donation of £75,000 to Ayrshire College to support new training equipment for around 150 students and apprentices, which it said will help secure the next generation of aerospace skills. Article continues below The money will also support the delivery of a course designed to prepare students for careers in the wider aerospace industry. UK Government minister for Scotland Melanie Ward said: "With more than £18 million of UK Government funding we are unlocking private sector investment, boosting skilled jobs and helping drive good growth in every Scottish postcode. "In total the UK Government is investing £32 million through the Ayrshire Growth Deal into the Prestwick aerospace cluster. "This will help deliver a long-term future for Prestwick Airport, ensure the region is a leading UK hub for the sector and provide the next generation of Scottish engineers with a world-class career path right on their doorstep." Deputy First Minister Jenny Gilruth said: "This major expansion of GE Aerospace's operations at Prestwick is a real boost for the local economy. "It is also a vote of confidence in Scotland's workforce, and our support for this expansion clearly demonstrates our commitment to build on the strengths of our advanced manufacturing and engineering sectors, as well as stressing the importance of the aerospace sector. "Through our £103 million commitment to the Ayrshire Growth Deal, we will continue to work with partners to help transform and strengthen regional economic activity, creating good jobs and supporting growth in Scotland." Reuben Aitken, managing director, investment & international at Scottish Enterprise, said: "GE Aerospace's investment builds on decades of engineering expertise at Prestwick and the site's role within its global operations. "By expanding capacity and enhancing productivity, it will strengthen the site's competitiveness, increase its already significant contribution to Scotland's exports and create new opportunities for skilled workers." Article continues below "It's a strong endorsement of the people, skills and capabilities that exist in Ayrshire, while reinforcing Scotland's reputation as an attractive destination for international investment in aerospace."