Pratt & Whitney, a division of United Technologies Corp (UTX - Free Report) , recently completed the first phase of Middletown assembly-floor transformation project for manufacturing new Pure Power PW1100G-JM and F135 engines, thereby increasing its overall production capacity.
The PurePower PW1100G-JM engines, used by the Airbus A320neo aircrafts, reduces fuel consumption, environmental emissions, engine noise and operating costs compared to jet engines. Designed for the U.S. Army, the F135 engine powers the F-35 Lightning II – a multi-utility 5th generation fighter plane. The exceptional performance of Pratt & Whitney’s engines in some of the harshest conditions has helped aircrafts around the world to save countless lives in military, humanitarian and disaster relief missions around the world.
This new addition to the engine facility in Middletown will meet the customer commitments by delivering game-changing engine technology and will also play an essential role in the production ramp-up of Pure Power engines.
In the last reported quarter, large commercial engine spares orders were up 46% at Pratt & Whitney including the impact from the incremental International Aero Engines.
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 provides high-end technology products and services to the building systems and aerospace industries worldwide. The business diversification allows the company to remain profitable amid tough economic times. However, the company needs to be wary of its competitors, which includes formidable names such as Crane Co. (CR - Free Report) and Federal Signal Corp (FSS - Free Report) .
United Technologies currently has a Zacks Rank #3 (Hold). One of its competitors, Tyco International Ltd carries a Zacks Rank #2 (Buy).