General Electric

General Electric (GE) is an American multinational conglomerate incorporated in New York and headquartered in Boston. As of 2021, the company operates through the following segments: Aviation, Power, Renewable Energy, Digital Industry, Additive Manufacturing, and Venture Capital and Finance.

History

GE was formed through the 1892 merger of Edison General Electric Company of Schenectady, New York, and Thomson-Houston Electric Company of Lynn, Massachusetts, with the help of Drexel, Morgan & Co. Both plants were predecessors of the General Electric company. GE is known for its innovations in the electrical field, significantly contributing to the electrification of the United States.

Operations

Aviation

GE Aviation is a leading producer of jet engines for commercial and military aircraft. GE Aviation also provides maintenance, repair, and overhaul (MRO) services.

Power

The Power segment provides technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and power generation services.

Renewable Energy

GE Renewable Energy is a division dedicated to producing energy from renewable sources. Its portfolio includes wind turbines, hydroelectric power, and solar energy technologies.

Digital Industry

This segment focuses on the digital transformation of industrial companies, offering software and IIoT (Industrial Internet of Things) services that connect, monitor, and control industrial machinery and equipment.

Additive Manufacturing

GE has invested in additive manufacturing, or 3D printing, technologies, which are used across several of its business segments, including Aviation and Healthcare.

Venture Capital and Finance

GE Capital offers a range of financial products and services, supporting commercial leasing, financing, and the capital needs of GE's industrial businesses.

Impact

GE has played a significant role in the development of the electrical industry, contributing to major technological advancements and the global spread of electrical infrastructure. Its research has led to significant innovations in various fields, including aviation, renewable energy, and digital technologies.

Controversies

Over the years, GE has faced various controversies, including environmental pollution and financial instability within some of its segments. The company has taken steps to address these issues, including divesting from certain businesses and focusing on core industrial and digital operations.

See Also

• Thomas Edison
• Electricity
• Renewable Energy
• Digital Transformation
• 3D Printing