General Electric: revenue by segment 2023

Aviation and power are the largest contributors to General Electric’s revenue, which was around 68 billion U.S. dollars in the 2023 fiscal year, up from 58.1 billion U.S. dollars one year before. General Electric was a leading company in Massachusetts.

Wings over GE

2017 saw the sudden departure of the long time CEO and there has never been any consistent year-on-year growth. However, the strong performance from its aviation business in the following two years, 21.7 percent up from 2017, has made a huge difference in confidence for the conglomerate. Looking forward, it is the ever struggling power business that is likely to be focused on after revenue declined significantly for the third consecutive year. GE will also have the emerging markets of Asia and Africa in their sights. However, in the renewable energy group, there is cause for celebration. General Electric were the number one producer of on-shore wind turbines in 2022. Future wind power generation is expected to continue to grow in the U.S. albeit, unfortunately for the renewable energy team, not at the rate they have seen in more recent times.