The company also plans to hire 35,000 people in this period and spend about $75 billion with U.S. suppliers to strengthen local economies.

The maker of Pratt & Whitney aircraft engines said about $9 billion of the investment is expected to go towards research and development, including on artificial intelligence and autonomy.

The remaining $6 billion will be used to increase capacity in existing manufacturing facilities and improve efficiency.

The announcement comes at a time when the company is facing pressures from activist shareholders who believe that a breakup into three businesses could unlock $20 billion in value.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Sai Sachin Ravikumar and Arun Koyyur)