Airlines and hyperscalers face severe gas turbine shortages with lead times stretching 5 to 7 years as of February 2026, creating a critical bottleneck for aviation fleet expansion and AI data center power infrastructure. Only three manufacturers—GE Vernova, Siemens Energy, and Mitsubishi Heavy Industries—control global supply, with GE Vernova’s backlog reaching 100 GW in Q1 2026 and slots sold into 2029–2030. Operators must extend older aircraft lifespans and rely on less efficient stopgaps while data center projects in Alabama and Memphis face 3–7 year delays due to turbine scarcity. This convergence of aviation and hyperscaler demand has made specialized turbine components a new pick-and-shovel investment play amid unprecedented backlogs.