IHI Corp., Kawasaki Heavy Industries Ltd. and Mi-tsu-bi-shi Heavy Industries Ltd. are making arrangements with U.S. engine manufacturer Pratt & Whitney to set up a joint venture to develop and manufacture engines for the next Airbus mainstay narrow-body commercial jet, sources said.
The European aircraft manufacturer’s A320neo is scheduled to go into service in 2016, with orders for about 4,000 expected to be placed by operators in both advanced and emerging economies.
Engine sales and related maintenance work are expected to generate more than ¥1 trillion in sales.
The three Japanese companies, Pratt & Whitney and another company will jointly set up the venture, with its head office located in the United States, the sources said Thursday.
Japanese Aero Engines Corp., an organization under the Ministry of Economy, Trade and Industry, is acting as a go-between for aspects of the venture, such as the division of responsibilities and ownership ratios, according to the sources.
A similar joint venture was set up to develop and manufacture engines for the A320 currently in service.