Mtu Aero Engines Ag · XETR:MTX
Mtu Aero Engines — Investor Day (September 2007)
76 slides from Mtu Aero Engines's investor day presentation, Sep 21, 2007
Slide 1: MTU Aero Engines - Investor and Analyst Day 2007
MTU Aero Engines - Investor and Analyst Day 2007 Hanover - September 21st, 2007
Slide 2: Agenda
Agenda Time Event Speaker 10:30 – 11:30 Introduction Udo Stark Highlights Commercial OEM Business Dr. Anton Binder Highlights Military Business Udo Stark 11:.30 – 12:30 Update on Commercial MRO Strategy, Markets and Bernd Kessler Operational Performance 12:30 – 13:15 Lunch with MTU Management 13:15
Slide 3: Main Achievements Since Investor & Analyst Day 2006 (1/2)
Main Achievements Since Investor & Analyst Day 2006 (1/2) MTU promised to… … and delivered • Cost-cutting target of €50m p.a. from 2008 on will Further improve partly be achieved already in 2007 cost competitiveness • Low-cost facility in Poland and other long-term cost improvement initiatives estab
Slide 4: Main Achievements Since Investor & Analyst Day 2006 (2/2)
Main Achievements Since Investor & Analyst Day 2006 (2/2) MTU promised to… … and delivered • Claire-Concept: Over next three decades 30% Maintain leadership improvement in fuel burn and CO2 achievable Long-term targets in technology • Geared Turbofan preferred technology for next generation of engin
Slide 5: Highlights Commercial OEM Business
Highlights Commercial OEM Business Dr. Anton Binder, Head of Commercial OEM Business
Slide 6: Agenda
Agenda • Market Overview • Summary H1 2007 Financials • Highlights • Potential participation in A350 XWB • Continuation PW2000 / F117 • Future of IAE • MTU Aero Solutions • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 6
Slide 7: Sustained Traffic Growth and Sharp Recovery in Airline Profitability
Sustained Traffic Growth and Sharp Recovery in Airline Profitability Underpin Positive Market Fundamentals Trillion Revenue World Airline • Robust international passenger traffic Passenger Kilometers Net Financial Results ($bn) growth in the first 7 months of 2007 5 with +6,2% +6,2%* 10 • Load facto
Slide 8: Aero Engine Sales Worldwide Expected to Increase by 16% in 2007
Aero Engine Sales Worldwide Expected to Increase by 16% in 2007 – Driven by Narrowbody Segment Civil Aero Engine Industry - Series Sales 2005-2007 $bn +16% • The industry is expected to deliver $24bn 25 worth of new engines representing a 16% increase over 2006 +24% 20 50klb+ • All thrust segments b
Slide 9: Civil OEM Engine Series Market Expected to Generate More Than $300bn
The Civil OEM Engine Series Market is Expected to Generate More Than $300bn of Sales Over the Next 10 Years Civil Aero Engine Industry – Series Sales 2007-2016 by Segment • MTU is well positioned in the commercial Business and market, e.g. Wide body Regional Jets • Partnership with P&WC, the market
Slide 10: Agenda
Agenda • Market Overview • Summary H1 2007 Financials • Highlights • Potential participation in A350 XWB • Continuation PW2000 / F117 • Future of IAE • MTU Aero Solutions • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 10
Slide 11: Summary H107 Financials – Commercial OEM Business
Summary H107 Financials – Commercial OEM Business Revenues OEM Commercial Business OEM Business EBITDA OEM Business m€ m€ 800 16.4% 120 13.2% 15 600 +12% +38% 126 10 400 80 80 485 545 91 200 40 40 5 0 0 0 H1 2006 H1 2007 H1 2006 H1 2007 Commercial Military EBITDA Margin 31.12.2006 30.06.2007 Change
Slide 12: Agenda
Agenda • Market Overview • Summary H1 2007 Financials • Highlights • Potential participation in A350 XWB • Continuation PW2000 / F117 • Future of IAE • MTU Aero Solutions • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 12
Slide 13: MTU Evaluating Several Options to Participate in A350 XWB Program
MTU Evaluating Several Options to Participate in A350 XWB Program Airbus A350 XWB Status • MTU considers A350 XWB an interesting, but challenging program (thrust range and efficiency expectations). • Airbus requires one single engine family for all aircraft variants. GP7000 Engine • MTU is evaluatin
Slide 14: PW2000/F117 Series Production Secured at Least Until 2011
PW2000/F117 Series Production Secured at Least Until 2011 PW2000 Engine Status Announced firm orders: USAF 190 A/C USAF 20 A/C (30?) Australia 4 A/C UK 5 A/C Canada 4 A/C NATO 3 A/C Total 226 A/C = 904 eng. + spares + Potential new orders: x A/C = xxxx Engines • MTU’s planning scenario is based on f
Slide 15: IAE Preferred Route for NGSA – GTF Reveals Promising Test Results
IAE Preferred Route for NGSA – GTF Reveals Promising Test Results V2500 Engine Status • IAE shareholders´ statement at Le Bourget 2007: • “IAE remains preferred route to market for all its shareholders on current and future applications” • Go-ahead for production rate increase to meet customer deman
Slide 16: MTU participates in GenX program via MTU Aero Solutions
MTU participates in GenX program via “MTU Aero Solutions” MTU Aero Solutions Highlights • MTU is bundling all non-RRSP activities with OEM´s under trademark “MTU Aero Solutions”. • Background: increased demand for non-RRSP products and services (engine parts, R&D, controls, manufacturing processes,
Slide 17: Agenda
Agenda • Market Overview • Summary H1 2007 Financials • Highlights • Potential participation in A350 XWB • Continuation PW2000 / F117 • Future of IAE • MTU Aero Solutions • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 17
Slide 18: Summary Commercial OEM
Summary Commercial OEM • Engine and spare parts sales encouraging (robust cycle) • PW2000/F117 lives longer • V2500, high sales volume, product upgrade • IAE and NGSA, 4 party statement, technology preparation • Airbus A350XWB Engine is an interesting target for MTU business development activity • N
Slide 19: Highlights Military Business
Highlights Military Business Udo Stark, CEO
Slide 20: Agenda
Agenda • Market Overview • Summary H1 2007 Financials • Highlights • TP400-D6 Program status • Status EJ200 including Tranche 3 • Cooperation with German Airforce • Export Business Perspectives • Entry into US-Military market with F414 & F404 • Heavy Transport Helicopter/CH53-K September 21st, 2007
Slide 21: Military Engine Series Market Expected to Generate $50bn Sales
The Military Engine Series Market is Expected to Generate $50bn Sales Over the Next 10 Years Military Aero Engine Industry – Series Sales 2007-2016 by Segment • MTU is well positioned in two of the UCAV largest segments: 1% • Fighter/Trainer Helicopter • Transport/Tanker 14% • The EJ200 makes up clo
Slide 22: Agenda
Agenda • Market Overview • Summary H1 2007 Financials • Highlights • TP400-D6 Program status • Status EJ200 including Tranche 3 • Cooperation with German Airforce • Export Business Perspectives • Entry into US-Military market with F414 & F404 • Heavy Transport Helicopter/CH53-K September 21st, 2007
Slide 23: Summary H107 Financials – Military Business
Summary H107 Financials – Military Business Revenues Military Business EBITDA OEM Business m€ 800 m€ 16.4% 600 13.2% 15 120 400 +38% 126 10 80 +9% 91 200 40 5 204 223 0 0 0 H1 2006 H1 2007 H1 2006 H1 2007 Military Commercial EBITDA Margin 31.12.2006 30.06.2007 Change Order backlog Military Business
Slide 24: Agenda
Agenda • Market Overview • Summary H1 2007 Financials • Highlights • TP400-D6 Program status • Status EJ200 including Tranche 3 • Cooperation with German Airforce • Export Business Perspectives • Entry into US-Military market with F414 & F404 • Heavy Transport Helicopter/CH53-K September 21st, 2007
Slide 25: TP400 Engine Currently on Track to Meet Airbus Schedule
TP400 Engine Currently on Track to Meet Airbus Schedule TP400 – D6 Engine Status • Complex system interfaces (Engine – Propeller – Aircraft) finalised with Airbus and suppliers, leading to delays in the development program. • Final assembly of Flight Test Engines launched at MTU in July. • Next mile
Slide 26: Negotiations on EJ200 Tranche 3 to Begin End of 2007
Negotiations on EJ200 Tranche 3 to Begin End of 2007 EJ 200 Engine Status • Tranche 1: Completed - 363 engines delivered • Tranche 2: First engine delivered in July 2007 – in total 519 engines until 2012 • Tranche 3: • MTU is currently working with its partners on the contract for 500 Engines. The o
Slide 27: Cooperation with German Airforce Well-Established
Cooperation with German Airforce Well-Established Cooperation with German Airforce Status • MTU cooperation with German Airforce enjoys high reputation with governmental Authorities – visit of Dr. Franz Josef Jung, Minister of Defence in August 2007. • Total staff currently at 200 employees Thereof:
Slide 28: Promising Opportunities for Export Business
Promising Opportunities for Export Business Key Programs Status • EJ200 • Saudi Arabia contract to be finalized in 2007 (72 A/C) • Support contract for Austria to be concluded • Additional campaigns for Switzerland, India etc. • RB199 • Partner agreement with Saudi Advanced Electronics Company and D
Slide 29: Entry into F414/F404 Participating in Largest US Military Engine Programs
With Entry into F414/F404 MTU is Participating in One of the Largest Military Engine Programs in the US F414/F404 Status • Combined program share F414/F404 at 5,9% • Increase by further 4-5% under negotiation with GE • Additional potential for 800m€revenues over program life • Production ramp-up pro
Slide 30: Potential Participation in New Heavy Lift Helicopter (CH 53-K)
Potential Participation in New Heavy Lift Helicopter (CH 53-K) HTH/CH53-K Status • Helicopters represent 13% of total new build military demand until 2040 • Helicopters are the fastest growing platform segment within the military business (at 2.0% p.a. real) - greatest growth in naval and transport
Slide 31: Summary Military Business
Summary Military Business • MTU well positioned in two largest market segments: Fighter/Trainer and Transport/Tanker • TP400 engine currently on track to meet Airbus schedule • Negotiations on EJ200 Tranche 3 to begin end of 2007 • Cooperation with German Airforce well-established • Promising export
Slide 32: Update on Commercial MRO Strategy, Markets and Operational Performance
Update on Commercial MRO Strategy, Markets and Operational Performance Bernd Kessler, President and CEO Commercial Maintenance
Slide 33: Agenda
Agenda • Commercial MRO – Status Quo • Summary H107 Financials • Market Outlook • Operations • Growth • Strategy • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 33
Slide 34: Commercial MRO – Status Quo
Commercial MRO – Status Quo Growth • Contract Wins of 3.1 bn US$ ytd 2007 (ytd 08/2006: 1.2 bn US$) • Total Contract Value 6.2 bn US$ (FY 2006: 4.8 bn US$) • 23 new customers ytd 2007 • Strong growth at MTU Maintenance Zhuhai • MTU Maintenance Zhuhai approved by major US based airlines • Expansion o
Slide 35: Agenda
Agenda • Commercial MRO – Status Quo • Summary H107 Financials • Market Outlook • Operations • Growth • Strategy • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 35
Slide 36: Summary H107 Financials – MRO Business
Summary H107 Financials – MRO Business Revenues MRO OEM Business EBITDA MRO OEM Business m€ m€ 100 15 600 505 11.6% 490 + 3% 80 10.9% 400 60 57 -3% 55 10 40 200 5 20 0 0 0 H1 2006 H1 2007 H1 2006 H1 2007 EBITDA Margin * FX adjusted revenues = + 12% in m US$ 31.12.2006 30.06.2007 Change Contract Volu
Slide 37: Agenda
Agenda • Commercial MRO – Status Quo • Summary H107 Financials • Market Outlook • Operations • Growth • Strategy • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 37
Slide 38: Worldwide Commercial MRO Market 2007-2016
Worldwide Commercial MRO Market 2007-2016 Commercial MRO Business – Sales 2007 – 2016 by Program • Growth: 16 bn US$ in ‘07 to 31.5 bn US$ in ‘16 CFM56 31% • Anticipated growth: ~7% CAGR 2007-16 Others 39% • Outlook improved over the past year • New a/c deliveries drive MRO growth • MTU covers key g
Slide 39: Commercial MRO – Market Trends
Commercial MRO – Market Trends Trends • Strong market growth continues • Above average growth in the Middle East, Asia and Latin-America • Growing proportion of new a/c orders by BRIC countries (Brazil, Russia, India, China) • Rising demand for MRO infrastructure in these new emerging markets (local
Slide 40: Top Engine MRO Providers
Top 10 Engine MRO Providers 2006 Estimated Engine MRO Revenue (US$ Bill.) Market Trend Share 1 GE Engine Services 16% 2 Rolls-Royce 9% 3 Pratt & Whitney 8% 4 Lufthansa Technik 7% 5 MTU Maintenance 7% 6 Air France/KLM 6% 7 American Airlines 5% 8 Delta TechOps 5% 9 Snecma Services 4% 10 Japan Airlines
Slide 41: Agenda
Agenda • Commercial MRO – Status Quo • Summary H107 Financials • Market Outlook • Operations • Growth • Strategy • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 41
Slide 42: Commercial MRO – Implementing a New ERP System
Commercial MRO – Implementing a New ERP System Objective • Common system across the MTU group • Efficiency improvement • Significantly higher degree of data transparency, standardized reporting • Forward and backward integration with customers and suppliers Implementation • Implementation at Hanover
Slide 43: Commercial MRO – Implementing a New ERP System (ctd.)
Commercial MRO – Implementing a New ERP System (ctd.) Risk Mitigation Ramp up phase – SLUs large engines 50 • Availability of lease engines 45 • Staggering of engine removals 40 • Off loading to MTU Zhuhai 35 • Working 7 days a week 30 • Intensified training efforts 25 20 15 Outlook 10 5 0 • MTU Han
Slide 44: Commercial MRO – New Test Facility in Hanover
Commercial MRO – New Test Facility in Hanover State of the art test facility Key facts • Max. Thrust: 150 k lbf • Cross section: 13 m • Base area: 1.800 m² • Length of the facility: ~ 100 m • Width of the testbed: ~ 15 m • Height of the exhaust: ~ 35 m • Investment: 21 m € • Construction time: 13 mo
Slide 45: Commercial MRO – Expansion Malaysia Facility
Commercial MRO – Expansion Malaysia Facility Status Quo: Expansion Product Implementation Plan start operation CFM56-5/-7 HPC CF34 HPC CFM56-2/-3 HPC CF6-50/-80 HPC CF6-50/-80 HPC V2500 HPC V2500 HPC V2500 LPT CFM56-3/-5/-7 LPT CF6-50/-80 LPT • Set up of new facility completed • 8,500 m2 2004 2006 2
Slide 46: Agenda
Agenda • Commercial MRO – Status Quo • Summary H107 Financials • Market Outlook • Operations • Growth • Strategy • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 46
Slide 47: Commercial MRO - Latest Wins January to August 2007
Commercial MRO - Latest Wins January to August 2007 Total Contract Volume per 30.06.07 amounts to US$ 6.2 bn. Customer Engine Sales m US$ MRO Contract Value (bn US$) JetBlue V2500 2,300 6,2 Garuda CFM56 200 4,8 Thomas Cook V2500 42 4,1 3,8 Cathay Pacific CF6-50 35 Air New Zealand CF6-80 32 Miscellan
Slide 48: Commercial MRO - Highlights Repair Development H1 2007
Commercial MRO - Highlights Repair Development H1 2007 Repair development (High Tech) • ERCoat nt Advanced Nano Technology Coating • First application: V2500 HPC Airfoils • Adaptation on CF6-80, CF34 & CFM56-7 (Dec. 07) • USP: coating durability, improved erosion resistance at high operating tempera
Slide 49: Agenda
Agenda • Commercial MRO – Status Quo • Summary H107 Financials • Market Outlook • Operations • Growth • Strategy • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 49
Slide 50: Strategic Direction
Strategic Direction Strategic "X" Actions • Grow Core Business: • Grow market shares with existing programs Invest into growth • Entry into new attractive engine programs opportunities (GE90, GENX, GP7000, NGSA) • Regional strategies • Innovative leasing products • Marketing cooperations “nose-to-ta
Slide 51: Agenda
Agenda • Commercial MRO – Status Quo • Summary H107 Financials • Market Outlook • Operations • Growth • Strategy • Summary September 21st, 2007 MTU Investor and Analyst Day, Hanover 51
Slide 52: Commercial MRO - Summary
Commercial MRO - Summary Growth will continue to outpace market • Exceptionally strong growth over the past 3 years • 2007 growth will be temporarily slowed down due to ERP implementation • Major future growth opportunities exist • Above market growth expected mid term • Long term contract volume at
Slide 53: Long-term Cost Initiatives
Long-term Cost Initiatives Reiner Winkler, CFO
Slide 54: Overview H1 2007 Financial Performance (1/3)
Overview H1 2007 Financial Performance (1/3) Revenues (€m) 1.261 1.170 Growth rates Commercial 505 MRO 490 MTU Group + 8% reported MRO + 12% (*) Military 223 Military Business + 9% reported Business 204 Commercial Business + 15 % (*) Commercial 485 545 (*) underlying growth adjusted for US$-effects
Slide 55: Overview H1 2007 Financial Performance (2/3)
Overview H1 2007 Financial Performance (2/3) MTU Group EBITDA/margin Segment EBITDA/margin €m €m 200 200 + 24% 14.4% 10.9% 150 150 - 3% 55 12.5% 11.6% 57 16.4% 100 100 181 + 38% 146 13.2% 126 50 50 91 0 0 H1 2006 H1 2007 H1 2006 H1 2007 OEM MRO September 21st, 2007 MTU Investor and Analyst Day, Hano
Slide 56: Overview H1 2007 Financial Performance (3/3)
Overview H1 2007 Financial Performance (3/3) Free Cash Flow Net Income / EPS (underlying) 120 €m €/share 100 1,5 100 -17% 80 1,15 80 1,01 1,0 60 60 + 10% 99 40 40 82 0,5 56 61 20 20 0 0,0 0 H1 2006 H1 2007 H1 2006 H1 2007 Net Income EPS September 21st, 2007 MTU Investor and Analyst Day, Hanover 56
Slide 57: FY 2007 Outlook Confirmed
FY 2007 Outlook Confirmed Revenues EBITDA adj. (margin) €m €m 3.000 2.416 + 8% 2.600 600 20,0% 2.000 14,8% 400 13,2% + 21% 10,0% 1.000 200 385 318 0 0 0,0% FY2006 FY 2007 Outlook FY 2006 FY 2007 Outlook Free Cash Flow Net Income / EPS (underlying) €m €m in €/share 200 400 4,0 150 +4 % 300 + 23% 2,8
Slide 58: Overview of Current MTU Cost Efficiency Initiatives
Overview of Current MTU Cost Efficiency Initiatives Impact 100 program led to 310 m €cash savings in 2004-2006 thereof Impact 06 CoE-Concept thereof MTU A.E. Polska • ~ 50 m€investment • Reduction of Indirect Costs • Creation of centers of excellence • ~ 10 m€One-time costs Complexity reduction and
Slide 59: Center of Excellence (CoE) Concept MTU 2012 - Targets
Center of Excellence (CoE) Concept MTU 2012 - Targets The realisation of growth targets requires forward-looking structures Targets „Center of Excellence concept 2012“ • Reduce manufacturing costs especially on new programs Manufacturing • Improve the general framework for growth in supply business
Slide 60: Center of Excellence Concept – Main Projects
Center of Excellence Concept – Main Projects The CoE concept can be divided into two main projects Project 1: „Establishing Project 1: „Establishingnew newlocation location in Project 2: in Rzeszów" Rzeszów" „Structural project MRO" • Establishing infrastructure • Transfer between the Repair - Facil
Slide 61: Result: Establishment of Centers of Excellence
Result: Establishment of Centers of Excellence The new concept provides for the pooling of competencies in „Centers of Excellence“ (CoE) and the addition of a location in Rzeszòw (Poland). Hannover Berlin / Ludwigsfelde Parts Repair: CoE for high tech airfoils Parts Repair: CoE for high tech non-air
Slide 62: CoE Concept: OEM (Manufacturing & Development) – Transfers
CoE Concept: OEM (Manufacturing & Development) – Transfers Transferring location Poland (Rzeszów) External market Munich Rzeszów Manufacturing Manufacturing Outside vendors LPT vanes Transfer of ~ 160.000 h • Insourcing where LPT blades CoE for „LPT airfoils“ economic viability has Rough-machining,
Slide 63: CoE Concept: MRO Parts Repair/Module Assembly - Transfers
CoE Concept: MRO Parts Repair/Module Assembly - Transfers Transferring location Poland (Rzeszów) External market MRO Outside Vendor Hannover CoE for high-tech airfoils Insourcing LCC • High-tech airfoil repair to Hannover Berlin / Ludwigsfelde Parts Repair CoE for high-tech non-airfoils CoE for low-
Slide 64: Economical Facts: CoE Concept / MTU Aero Engines Polska
Economical Facts: CoE Concept / MTU Aero Engines Polska CoE Concept thereof MTU A.E. Polska Investment ~ 65 m€ ~ 50 m€ One-time costs ~ 21m€ ~ 10 m€ Cost advantage ~ 20 m€annually from 2011 on ~ 15 m€annually from 2011 on Staff • No effect on Munich employment ~ 400 employees in 2012 • Growth in MRO
Slide 65: Summary
Summary: • 2007 outlook confirmed • Mid-term margin guidance confirmed - based on USD-rate of 1.35 – 1.40 - USD is one of the major challenges • Strong financial performance (Cash Flow, Net Debt) allows participation in new programs (OEM&MRO) • Long-term cost initiatives will support achievement of
Slide 66: Future Engines: MTU Initiatives for Emission Reduction
Future Engines: MTU Initiatives for Emission Reduction Dr. Rainer Martens, COO
Slide 67: Major Topics of Public Debate
Major Topics of Public Debate September 21st, 2007 MTU Investor and Analyst Day, Hanover 67
Slide 68: These Discussions are not New – ACARE 2020
BUT: These Discussions are not New – ACARE 2020 In 2002, the Advisory Council for Aeronautical Research in Europe (ACARE) published its Strategic Research Agenda, which aims to focus European research activities on Environment Affordability Air Traffic Management contribution ACARE 2020 objectives R
Slide 69: MTU Has for Years Been Working on Improvement of Engines
MTU Has for Years Been Working on the Improvement of Engines, the Focus of its Activities Being on the Reduction of CO2 Emissions and Costs ∆SFC, Turbojet Engine contribution ACARE 2020 ∆CO2 JT3C % Reduce perceived noise by a third Turbofan 1st generation Reduce NOx by 80% 18 % BPR=2 Reduce CO2 by 2
Slide 70: MTU's R&D Spending for Future Technologies is Focused on Environmental Issues
MTU’s R&D Spending for Future Technologies is Focused on Environmental Issues Self-financed and funded … future applications technology development for €40 m €45 m €60 m A350 XWB XXX A320 family Boeing 737 NGSA Regional Jets actual 2005 actual 2006 expected 2007 PWX10 September 21st, 2007 MTU Invest
Slide 71: MTU is Looking Beyond the Next Generation: CLAIRE
MTU is Looking Beyond the Next Generation: CLAIRE – MTU‘s CLean AIR Engine Technology Program ∆CO2 % Baseline CLAIRE 1 CLAIRE 2 CLAIRE 3 100 up to up 90 to up 15% 20% to 30% 80 ACARE + TARGET 70 + V2500 Geared turbofan GTF plus Counter Rotating … plus WT propfan** 2005 2015 ** WT = heat exchanger Se
Slide 72: CLAIRE 1: Geared Turbofan will Achieve the Targets by 2015
CLAIRE 1: Geared Turbofan will Achieve the Targets by 2015 Emission requirements MTU Solution for NGSA The concept to ensure achievement of the targets is Noise(preceived) - 20 % the geared turbofan. CO2 - 10 - 15% The GTF is characterized by: NOx - 50 - 60% • low speed fan • gearbox for decoupling
Slide 73: Other Concepts, But the GTF Offers Overall the Greatest Benefits
There Are Other Concepts, But the GTF Offers Overall the Greatest Benefits Open rotor Geared turbofan Fuel burn slightly lower Achieves ambitious fuel burn targets Higher weight + Achieves CO2 and NOx targets Requires adapted aircraft concept Noise remains at today‘s level + Outperforms future noise
Slide 74: Vision of Future Engine and Aircraft Concepts
Vision of Future Engine and Aircraft Concepts Advanced Aircraft Concepts • Numerous visions for future concepts • Focused on engine/airframe integration • Emphasis remains on fuel burn and emission reduction • Technology-Readiness within 30-40 years September 21st, 2007 MTU Investor and Analyst Day,
Slide 75: Summary
Summary: • Customers and society expect significant contributions to emission and noise reduction. • MTU´s outstanding track record of engine improvement will be continued. • R&D efforts have been increased and are focused on the reduction of fuel consumption, CO2-emmisions and noise. • The geared t
Slide 76: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements Certain of the statements contained herein may be statements of future expectations and other forward- looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could