Hanwha Aerospace has been receiving a series of love calls from global aircraft manufacturers. GE of the U.S., one of the world's top three aircraft engine makers, has decided to buy engine parts made by Hanwha Aerospace.
The move follows a long-term deal signed earlier this month with Rolls-Royce, which is known for its picky management of parts suppliers.
Hanwha Aerospace made an announcement on Nov. 18 that it has signed a $300 million contract with GE, a global aircraft engine manufacturer, to supply engine parts for cutting-edge aircraft.
GE, which is considered one of the world's top three aircraft engine makers along with U.S. aircraft engine maker P&W and British Rolls-Royce, was established in 1917. Hanwha Aerospace signed a $1 billion contract with Rolls-Royce on Nov. 5 to supply engine parts for 25 years.
Under the deal with GE, Hanwha Aerospace will supply parts used for two types of aircraft engines -- GE9X and LEAP. GE's latest engine GE9X is an engine for Boeing's 777X, which was developed in 2012, and Hanwha will deliver six types of high-pressure compressor cases and high-pressure turbine cases that will be installed on the engine by 2024.
It also decided to supply 40 types of high-pressure turbines cases of LEAP engines, which are best-selling engines for Airbus 320 Neo, by 2025.
"This contract has enhanced our status as a global engine parts company that actually specializes in name and reality," said an official for Hanwha Aerospace. "We will continue to expand the size of our engine business by strengthening partnerships with the world's top three engine manufacturers in the future."