GE Aerospace designs, manufactures, and services jet engines for commercial airlines and military customers. The company's installed base of roughly 50,000 commercial engines and 30,000 military engines is the largest in the industry. Key commercial engine families include the CFM56, which powers roughly 75% of narrow-body flights globally, and the LEAP, the next-generation narrow-body engine co-developed with Safran through the CFM International joint venture. On the wide-body side, GE Aerospace offers the GEnx and GE9X for Boeing 787 and 777X aircraft. In defense, GE Aerospace powers roughly two-thirds of U.S. military combat and helicopter fleets. GE Aerospace's business model follows a "razor/razorblade" structure: engines are sold at low or negative margins to build an installed base, and the company then earns high-margin aftermarket revenue — MRO services and spare parts — over the engine's multi-decade life. Services represent approximately 70% of total revenue and are the primary profit driver. Aftermarket revenue scales with installed base size, fleet utilization, and shop visit frequency. Long-term service agreements, typically running 10–25 years, provide recurring revenue. The LEAP program reached services profitability in 2024, with full program breakeven targeted in 2025, and the LEAP installed base is expected to roughly triple by 2030. GE Aerospace also holds legacy run-off insurance operations that are closed to new business and have no connection to the core aerospace franchise.