08:53 AM EDT, 03/12/2025 (MT Newswires) -- GE Aerospace (GE) shares were higher premarket Wednesday after the company said it is planning to almost double its 2024 investment to nearly $1 billion in its US factories and supply chain.

Around $500 million will be earmarked to strengthen quality and delivery, particularly expanding sites that support the production and assembly of the narrowbody CFM LEAP engine, where deliveries are slated to increase by 15% to 20% in 2025, the company said.

Over $100 million will be allotted to scale the production of parts made from new materials and advanced manufacturing processes that provide engines with more range, power, and efficiency, GE said, adding that over $100 million will be invested in the company's external supplier base.

GE also said it plans to hire around 5,000 US workers this year.