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Increase In Jet Travel Offers Bigger Market For Engine Producers

General Electric Co is already the world leader of jet engine manufacturers. The company recently announced that they are considering creating a new turbine engine for use in business jets, which would put GE in the running with Pratt & Whitney Canada and Rolls-Royce. 

While jet manufacturers are dreaming up new styles of jets, engine companies are waiting in line to provide the state-of-the-art engines to power those bigger and better jet designs. All this research and development is aimed towards taking advantage of a market that is expected to reach $195 billion by the end of the year 2016. 

GE Aviation CEO, Scott Donnelly said, " All these guys are looking at how they’re going to redo their lines. If they’re going to do that, then the window of opportunity is there for us to do an engine. 

The current demand for business jets is estimated at around 1,000 orders, mostly from the US, Asia, Africa and the Middle East. The total number of deliveries is expected to reach near 12,000 in the following ten years. 

The cost to GE could be close to $400 million just to design one of the larger motors that the company is looking into.

Cessna has asked their board for approval to go ahead and build a jetliner more than a foot wider than the biggest model they currently produce.

Cessna is considering bids from all three of the engine manufacturers. Board approval is expected for the aircraft that hasn’t yet been named but will likely cost between $20 and $30 million dollars.