A jet engine is the most important part of a commercial aircraft. And repairing it has become a $58 billion business. (Source: AeroDynamic Advisory) A commercial aircraft engine is a complex, expensive machine made up of thousands of parts. Engines typically stay in service for about 30 years and need to be removed from the wings and overhauled about every 5-8 years. An engine overhaul can cost between $4 million and $15 million. The process involves dismantling and replacing any worn or damaged parts, such as rotor blades, which can cost up to $30,000 a piece. While passenger numbers are rising in record numbers, manufacturing and supply chain issues persist even after the pandemic. Delays at Boeing and Airbus on new aircraft have forced some airlines to keep older planes flying longer to keep up with demand. And the aftermarket for older engines is booming. Demand for old engines, coupled with an engine recall, has led to long delays at maintenance shops. Before the supply chain issues, it took 60 to 75 days to overhaul a typical narrow-body engine. In some cases, that time increased to over 200 days. While hundreds of airlines outsource, traditional carriers like Delta and American Airlines perform engine maintenance themselves. American Airlines said the number of engine overhauls will increase 60% year over year. CNBC traveled to Tulsa, Oklahoma, to get an inside look at how it works and explore the market outlook. Chapters: 2:06 How engines work 3:23 Engine market 5:40 Engine maintenance 9:35 Supply chain issues Produced, shot and edited by: Erin Black Animations by: Jason Reginato Executive producer: Jeniece Pettitt Editorial assistance: Leslie Josephs
Tuesday, August 20, 2024, 16:00:50 GMT
