October 11, 2012
ITP enters medium-sized commercial aircraft engine market with Pratt & Whitney
At ITP headquarters (Zamudio, Bizkaia), ITP and Pratt & Whitney Commercial Engines, signed a collaboration agreement for manufacturing, engineering and maintenance work for the PurePower Geared Turbofan (GTF) engine. This will mean estimated sales of more than €2.5m over the life of the program. As put forward in their strategic plan 2011-2015, ITP has entered the medium-sized commercial aircraft engine market after the agreement reached with Pratt & Whitney. The agreement is a risk and revenue sharing arrangement and includes the supply of structures and tubes for all four existing applications of the Geared Turbofan (GTF) engine. The GTF engine family covers the range from 15,000 to 35,000 pounds of thrust, and is currently selected for the Airbus A320neo aircraft, the Canadian Bombardier C-Series, the Japanese Mitsubishi Regional Jet and the Russian Irkut MC-21. The single-aisle aircraft segment is the biggest in commercial aviation with a current worldwide fleet of 12,000 aircraft. Over the next 20 years, this fleet is expected to reach 23,000 aircraft. In order to satisfy the demand generated by this growth in the fleet, worldwide medium-sized engine production during those 20 years will reach over 40,000 units. As a result of their collaboration in the GTF, ITP will gain a presence in more than one third of all single-aisle commercial aircraft engines at a time when they already have a 50% stake-holding in twin-aisle engines (transatlantic aircraft).