RTX Expands GTF MRO Network With Sanad Group, Scales Up in UAE

RTX Corporation’s RTX unit, Pratt & Whitney, recently announced its plans to enhance its global network of GTF engines’ maintenance, repair and overhaul (MRO) by partnering with Sanad Group. As part of this collaboration, a new state-of-the-art MRO facility will be established in Al Ain, UAE, which should further fortify RTX’s presence in the region.Details of RTX’s FacilityThe new MRO facility is set to be operational by 2028. The facility will service Pratt & Whitney’s PW1100G-JM and PW1500G engines for Airbus A320neo and A220 aircraft respectively, as well as PW1900G engines for the Embraer E-Jet E2 aircraft. The new GTF maintenance center in Abu Dhabi will be the first in the South Asia, Middle East and North Africa region.RTX’s Expertise in the MRO MarketRising commercial air traffic worldwide in recent times has been significantly boosting the demand for aircraft, thereby driving the need for MRO services. With airlines expanding their fleet to accommodate growing passenger volumes, the demand for MRO services is also growing.This must have led the Market Research Future firm to predict that the global commercial aircraft MRO market will witness a CAGR of 4.3% during the 2024-2032 period.Notably RTX, through its Pratt & Whitney unit, offers maintenance and support for commercial aircraft engines. Its GTF MRO network now includes 20 shops across four continents.The company’s Collins Aerospace unit is also a well-known provider of aircraft MRO services. In October 2024, this unit signed a 10-year contract with Air Europa to provide comprehensive MRO services for the airline's fleet of 787 aircraft.Opportunities for Other CompaniesOther companies from the same sector that are anticipated to benefit from the expanding aircraft MRO market are discussed below.Heico HEI: Its Flight Support Group repairs, overhauls and distributes jet engine and aircraft components, avionics and instruments for domestic and foreign commercial air carriers and aircraft repair companies.Heico has a long-term (three to five years) earnings growth rate of 17.4%. The Zacks Consensus Estimate for HEI’s fiscal 2025 sales indicates year-over-year growth of 9.1%.Airbus Group EADSY: The company’s Airbus Services has a dedicated organization that has been created to deliver world-class and fully integrated aviation services to MRO organizations. Airbus collaborates with best-in-class MROs to provide end-to-end airframe maintenance services around the world.Airbus Group has a long-term earnings growth rate of 9.4%. The Zacks Consensus Estimate for EADSY’s 2025 sales indicates year-over-year growth of 9.7%.The Boeing Company BA: It offers extensive MRO services through its Global Services division, supporting both military and commercial aircraft. These services are available at several locations around the world, including China, Ireland, the UK and the USA.The company has a long-term earnings growth rate of 17.4%. The Zacks Consensus Estimate for BA’s 2025 sales indicates year-over-year growth of 25.4%.RTX Stock’s Price MovementShares of RTX have gained 7.5% in the past six months against the industry’s 7.4% decline.Image Source: Zacks Investment ResearchRTX Stock’s Zacks RankRTX currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis Report Heico Corporation (HEI): Free Stock Analysis Report RTX Corporation (RTX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks