GKN Aerospace has won a lifetime contract expected to be worth over USD750m with Honeywell Engines for nacelle systems for the HTF7000 series business jet turbofan engine.

Marcus Bryson, Chief Executive Officer, GKN Aerospace comments: "This is the latest of three major contracts now won for this highly successful nacelle system - to equip three separate business aircraft. We are confident the total value of this work with Honeywell will considerably exceed USD1bn."

This latest contract covers the design adaptation of the nacelle, its manufacture and full integration with the engine, with GKN Aerospace delivering the complete HTF7500E propulsion system podded into the nacelle direct to the customer's assembly line. Work will largely be carried out at the Company's Cowes, Isle of Wight facility in the UK.

Bryson continues: "Working closely with Honeywell our engineering team designed this nacelle from the outset to be adaptable and multi-application, combining proven performance with reduced design and development costs and swift availability. Its independent selection for three separate aircraft is confirmation of the operational success of the team's innovative design philosophy."

GKN Aerospace also supplies this nacelle system to Honeywell for the Bombardier CL300. More than 215 of these business jets have now been delivered to operators worldwide and the nacelle has demonstrated excellent performance. The second application, secured in the last year, is now completing design and entering the production phase with deliveries commencing later this year

This latest contract covers the design adaptation, certification, test and supply of the system which includes the engine inlet, fan cowl doors, thrust reverser and engine build unit (EBU) components. First delivery of test hardware is scheduled to take place late next year with production deliveries commencing in 2012. Deliveries are forecast to continue beyond 2027.