Pratt & Whitney GTF Engine: An Aviation Climate Solution?
Pratt & Whitney, a division of United Technologies Corp.UTX , recently announced that its Geared Turbofan (GTF) engine was cited as an Aviation Climate Solution by the Air Transport Action Group (ATAG) - a coalition of organizations and companies in the aviation industry.
To showcase the variety of innovative climate actions taking place across the globe, ATAG launched a publication called the Aviation Climate Solution - a collection of 100 best possible ways to reduce pollution in the aviation industry. Pratt & Whitney's GTF engine was cited as an Aviation Climate Solution as it involves less fuel consumption, lower emissions, reduced engine noise and lower operating costs. This technology is likely to result in savings worth 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. The GTF engine technology reduces commercial aircraft fuel burn and carbon dioxide emissions by more than 16%, cuts regulated emissions by more than 50% and the aircraft noise footprint by more than 75%. The long-term goal of this endeavor is to reduce CO2 emissions from aviation by approximately 50% by 2050.
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 #4 (Sell). Stocks that look promising in the industry include Graco Inc GGG , Luxfer Holdings PLC. LXFR , and Graham Corporation GHM , each carrying a Zacks Rank #2 (Buy).
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