Douglas Harned
Bernstein Institutional Services LLC, Research Division
Okay. I think we’re ready to go. I’m Doug Harned, Bernstein’s Global Aerospace and Defense analyst, and I’m thrilled to have with us, again, GE Aerospace’s CEO and Chairman, Larry Culp. Larry has got a few things he’s going to take us through and then we’ll go into the Q&A.
H. Culp
Chairman & CEO
Great. Doug, thank you. Good to be back. We always enjoy this conference, not only it is well timed, we seems to be an opportunity to get out of the details of the quarter and really talk about what’s distinctive and unique about GE Aerospace, both today and do we think about the business going forward.
As Doug said, I will run through a few slides here, and then we get into Q&A. Just to level set everybody in the room, GE Aerospace today, last year, $42 billion in revenue. People think of us as a hardware business, but we really are a services play, 70% of revenue coming from the support of an installed base that is 80,000 engines, large cutting across both commercial and defense applications.
We’re really proud of that. We’re out there with customers day in and day out. You couple that with the fact we’ve got $210 billion of backlog, $170 billion of that in commercial services. We really think that we’re out there in all the right places, well positioned not only to support the customers, but to grow our business and generate returns for shareholders for some time to come.
How do
