Spirit AeroSystems, Inc. [NYSE: SPR] announced Gulfstream Aerospace Corporation, a General Dynamics [NYSE: GD] company, as the customer for one of its previously awarded business jet contracts. Spirit's contract to design, produce, and integrate a flight-ready wing for the Gulfstream G650 Business Jet is worth in excess of $1 billion.

"We have more than 45 years of experience designing and building wing structures for commercial and military aircraft," said Don Carlisle, Vice President General Manager of Spirit's Tulsa Division. "We are excited to bring our expertise to the Gulfstream team to produce this premier business jet."

"Gulfstream has such an outstanding reputation in the business jet community," said Spirit President & CEO Jeff Turner. "It is a great opportunity for us to gain such a customer, and the fact that it is Gulfstream's largest and most advanced aircraft makes it even more important for us."

The G650 offers the longest range, fastest speed, largest cabin and the most advanced cockpit in the Gulfstream fleet. It is capable of traveling 7,000 nautical miles at 0.85 Mach or 5,000 nautical miles at 0.90 Mach. Using an advanced aerodynamic design, the G650 has a maximum operating speed of 0.925 Mach, which will make it the fastest civil aircraft flying. It can climb to a maximum altitude of 51,000 feet.

Spirit won the contract through a global competitive bid process. The company will utilize its internal capability and global supply base to design and manufacture components for the aircraft. Final assembly, testing and delivery will be done at its Tulsa, Okla., facility.