Rolls-Royce has announced a partnership with Pratt & Whitney to develop next generation engines for mid-size aircraft, as well as a restructuring of the companies’ International Aero Engines collaboration.
The new partnership will see the two companies developing engines for mid-size aircraft (capable of carrying 120 to 230 passengers) that will replace the existing mid-size fleet. Both companies will hold an equal share in the joint venture.
The joint venture will focus on high bypass ratio geared turbofan technology, as well as collaborating on future studies for next generation propulsion systems, including advanced geared engines, open rotor technology and other advanced configurations, the companies said.
Worldwide demand for around 20,000 new aircraft (or nearly 45,000 engines) is predicted over the next 20 years.
As well as establishing the new partnership, Rolls-Royce and Pratt & Whitney will restructure their participation in International Aero Engines (IAE), which produces the V2500 engine for A320 aircraft. Under the terms of the agreement, Rolls-Royce will sell its equity and programme shares in IAE to Pratt & Whitney for $1.5 billion and in addition receive an agreed payment for each hour flown by the current installed fleet of V2500-powered aircraft for 15 years from completion of the transaction.
Rolls-Royce said it remains committed to IAE and its customers and will continue to be responsible for the manufacture of high-pressure compressors, fan blades and discs as well as the provision of engineering support and final assembly of 50 per cent of V2500 engines.
Commenting on the news, Mark King, president of Civil Aerospace at Rolls-Royce, said: “Today’s announcement charts a clear course for the future of Rolls-Royce in the important mid-size aircraft segment. We are building on many years of successful collaboration with Pratt & Whitney in this segment to develop advanced aero engines, which we are confident will set new standards in aviation technology, performance and fuel efficiency.”
Headquartered in London, UK, Rolls-Royce has a customer base comprising more than 500 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, more than 2,500 marine customers, including 70 navies, and energy customers in nearly 120 countries, with an installed base of 54,000 gas turbines. The company employs over 39,000 skilled people in offices, manufacturing and service facilities in over 50 countries.
Headquartered in East Hartford, Connecticut, US, Pratt & Whitney has approximately 35,000 employees and more than 11,000 customers in 198 countries around the world.
IAE is headquartered in Glastonbury, Connecticut, US, and employs more than 400 personnel globally. As of 30 December 2010, the company had gross assets of $1.6 billion.
