It is a new revolutionary leader in the making aircraft engines today. Many airplane makers are flocking to this company named Pratt & Whitney. I wouldn't call it an overnight fame for Pratt & Whitney has been in the industry for a very long time. In fact, it has spent decades just by revamping this fabulous engine of theirs.
Right now, it's PW1000G engine is touted as the ne plus ultra of the aircraft engines.
Four decades ago, Pratt & Whitney dominated the jet-engine market with sales of its JT8 family of engines, still used on about a third of the world's commercial fleet, according to data from flightsupport.com.
This will only its competitor General Electric, under more duress. Right now, General Electric will definitely have to step up its game or it will be abandoned by many aircraft makers for Pratt & Whitney is definitely going all out on this revolutionary engine.
Pratt & Whitney said its engine could fit on either the Boeing 737 or AirBusA320 and still provide the same benefits of fuel efficiency and less noise, but couldn't speak specifically as to how it might impact the planes' design.
The key of their engines lies in the fact that its quieter and best of all, more fuel-efficient as highlighted above. As we all know, the quiet factor is actually insignificant as compared to its' functionality which maximises the use of fuel.
Right now, as always, the oil market is extremely volatile and oil prices are fluctuating all over the place. Such changes in price level of the oil will definitely have a huge impinge on companies which relies severely on oil.
One of the industries that is most impacted by the price changes is definitely the airline business for they consume a gargantuan amount of oil constantly.
Of course, this will mean that the airlines like Delta and British Airway are going to seek to buy aircrafts that helps them save energy and is more efficient when it comes to consumption of oil. This in turn, will help them save a lot of money which allows them to improve their profit margin. As a result, they will be able to translate some of these savings down to their customers and clients and naturally, it will increase their competitiveness as well.
So for aircraft makers, it is of pivotal to make one that is energy efficient because the energy industry is extremely bouyant right now. There has been a lot of hype surrounding the energy market right now. So all the players involved has to watch the market carefully. Of course, if an engine maker which can help them save energy efficient comes by, it will definitely be grabbed in a flash!
Credits -marketwatch, -enginehistory, -zdnet, -arabiansupplychain
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