Hanwha Aerospace, the only aircraft engine manufacturer in Korea, has signed a contract to supply cutting-edge aviation engine parts worth 1 trillion won to Rolls Royce, one of the world's three largest aircraft engine makers.
Hanwha Aerospace has demonstrated its global competitiveness by contracting with the world's three major aircraft engine manufacturers -- General Electric (GE), Pratt & Whitney (P&W), and Rolls-Royce.
The company signed the contract with Rolls Royce at a Rolls-Royce aircraft engine production plant in Derby, the United Kingdom, on Nov. 5. It is the largest single contract between Hanwha Aerospace and Rolls-Royce. Under the agreement, Hanwha Aerospace will supply turbine parts for Trent engines produced by Rolls-Royce.
The engine parts to be supplied by Hanwha are regarded as core parts and include a module for the Trent 900 engine used in the Airbus A380. The contract is worth US$1 billion and Hanwha will supply the parts for 25 years from 2021 to 2045. Hanwha Aerospace explained that the supply can be further expanded depending on the situation in the future.
Hanwha Aerospace has thus far been supplying engine cases. Experts say that the latest deal has allowed the company to enter the business of producing turbine parts, the core of the engine. All of the ordered volume will be supplied by a Vietnamese plant where Hanwha Aerospace began its operations last year. Hanwha Aerospace dispatched engineers in Changwon, Korea to Vietnam to transfer key technology for a manufacturing system, the core of its competitiveness.