ED Gummies That Work: Identifying Effective Solutions in the Market
A jet engine is the most important part of a commercial airplane. And repairing them has become a $58 billion dollar business. (Source: AeroDynamic Advisory)
A commercial jet engine is a complex, expensive machine, made up of thousands of parts. Engines typically stay in service for about 30 years and need to be taken off wing and overhauled roughly every 5-8 years. An engine overhaul can range from $4-15 million dollars. The process involves disassembling it and replacing all the worn or damaged parts like blades which can cost up to $30,000 a piece.
While passengers are flying in record numbers, manufacturing and supply chain problems have persisted post-pandemic. Boeing and Airbus delays on new aircraft have forced some airlines to fly older planes longer to keep up with demand. And the after market has been booming for older engines.
Demand for old engines, coupled with an engine recall has led to long delays in maintenance shops. Before the supply chain issues, a typical narrowbody engine took 60-75 days to overhaul and that time has gone up in some cases to over 200 days.
While hundreds of airlines use outside companies, legacy carriers like Delta and American Airlines perform engine maintenance in-house.
American said it’s on track to increase engine overhauls by 60% compared to past year. CNBC traveled to Tulsa, Oklahoma to get an inside look at how it works and explores the outlook for the market.
Correction 1:14 - The date this Reuters article was published was September 11, 2023.
Chapters:
2:06 How engines work
3:23 Engine market
5:40 How engines are maintained
9:35 Supply chain problems
Produced, shot and edited by: Erin Black
Animations by: Jason Reginato
Supervising Producer: Jeniece Pettitt
Editorial Support: Leslie Josephs
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Shark Tank is a popular reality TV show where aspiring entrepreneurs pitch their business ideas to a panel of wealthy investors, known as “sharks,” in the hopes of securing funding for their products. In a recent episode, a company called ED Gummies made waves with their innovative new product that aims to revolutionize the way people consume vitamins and supplements.
Product Pitch
ED Gummies is a company that specializes in creating delicious and convenient gummy vitamins for everyday use. Their flagship product is a line of gummies that are designed to help individuals meet their daily nutritional needs in a fun and tasty way. The founders of ED Gummies are passionate about promoting health and wellness through their products and are seeking a strategic partnership with the sharks to help take their business to the next level.
The founders of ED Gummies kicked off their pitch by explaining the inspiration behind their product. They shared their personal struggles with remembering to take vitamins and how they wanted to create a solution that was not only effective but also enjoyable to consume. The sharks were intrigued by the concept and eagerly awaited a taste test of the gummies.
After sampling the gummies, the sharks were impressed by the quality and taste of the product. They praised the founders for their innovative approach to delivering essential vitamins and supplements in a convenient and appealing format. The sharks were especially impressed by the wide range of flavors offered by ED Gummies and saw great potential for the brand to expand into new markets.
Investment Offers
As the pitch progressed, the sharks began to discuss potential investment opportunities with the founders of ED Gummies. Several sharks expressed interest in partnering with the company and offered various deals in exchange for equity stake in the business. The founders listened attentively to each offer and carefully considered their options before making a decision.
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