NEW YORK - One of the issues facing new General Electric Co. CEO Jeffrey Immelt is figuring out how to maintain double-digit growth for the corporation's $130 billion in annual revenues.

        Analysts say Mr. Immelt will undoubtedly do some shuffling of GE's business portfolio, which ranges from light bulbs to financial services.

        But beyond shedding slower-growing businesses, he'll also be faced with maintaining momentum for its better performers, such as Evendale-based GE Aircraft Engines.

        Some industry observers wonder how GE will continue to grow its jet engine business, which already claims more than half the 100-plus seat aircraft market when revenues from its CFM International partnership with Snecma of France are included.

        GE's attempt to expand into another aerospace growth area — avionic systems, which includes cockpit controls — was blocked this summer when the European Union rejected GE's planned $45 billion acquisition of Honeywell International Corp. That acquisition would have more than doubled GEAE's business.

        Mr. Immelt said GEAE, which employs about 8,000 in Greater Cincinnati, has other growth opportunities, particularly providing airline maintenance and repair services, which today account for about 60 percent of its $11 billion in revenues.

        “I think just because the Honeywell deal wasn't approved doesn't mean that we're done looking at avionics and other parts of the aircraft and aerospace industry,” he said.

        Another growth avenue, he said, is the developing market for information technology in the aerospace industry.

        “Aircraft Engines is very much the face of not just where GE has been but where GE is going,” Mr. Immelt said.

        “It's a high-tech, global, service-oriented business that gets very intimate with customers and where growth and good returns are possible,” he said. “Those are the businesses I like and want to make sure they are part of the portfolio.”

One cool, tough leader
       

One cool, tough leader
GE looks for growth in new and old fields
Corporate espionage has long history
Federated puts finger on Fingerhut problem
Shutterbug shutting the door
BladEater cutting through competition
Bison good for the sole
Small Business Success
Business Notes
What's the Buzz?