Abstract
In the airline business, margins are everything. Large modern jet engines make up a huge proportion of an aircraft's weight, and the fuel used is a huge part of an operator's costs. A reduction in either could be the difference between profit and loss. Fluctuating oil prices, fierce competition and challenging carbon reduction targets set by regulators are all increasing pressure on manufacturers to improve engine efficiency. The world's 'big three' jet engine builders - General Electric (GE), Rolls-Royce and Pratt & Whitney - have all responded, unveiling new ranges of engines packed full of innovative technology and engineering. Speed here isn't the most important thing - in fact, the engines will operate at similar speeds to those in service today. It's all about improving efficiency, minimising the environmental impact and - most importantly - reducing operating cost. Using lightweight but ultra-tough composite materials, advanced high-pressure compressors, new planetary gearing systems and even 3D-printed components, competition is hotting up in a worldwide commercial engine market that in 2013 was estimated to have reached around $25bn.
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