International Aero Engines
Encyclopedia
Zürich
Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
-registered joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
manufacturing company formed in 1983.
Ownership
Current shareholders are:- Pratt & WhitneyPratt & WhitneyPratt & Whitney is a U.S.-based aerospace manufacturer with global service operations. It is a subsidiary of United Technologies Corporation . Pratt & Whitney's aircraft engines are widely used in both civil aviation and military aviation. Its headquarters are in East Hartford, Connecticut, USA...
of the United StatesUnited StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
(65%) - MTU Aero EnginesMTU Aero EnginesMTU Aero Engines GmbH is Germany's leading aircraft engine manufacturer. MTU develops, manufactures and provides service support for military and civil aircraft engines...
of GermanyGermanyGermany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
(12%) - The Japanese Aero Engine Corporation of JapanJapanJapan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
(23%), consisting of:- Kawasaki Heavy IndustriesKawasaki Heavy Industriesis an international corporation based in Japan. It has headquarters in both Chūō-ku, Kobe and Minato, Tokyo.The company is named after its founder Shōzō Kawasaki and has no connection with the city of Kawasaki, Kanagawa....
- Ishikawajima-Harima Heavy IndustriesIshikawajima-Harima Heavy Industries, formerly known as , is a Japanese company which produces ships, aero-engines, turbochargers for automobiles, industrial machines, power station boilers and other facilities, suspension bridges and other transport-related machinery....
- Mitsubishi Heavy IndustriesMitsubishi Heavy Industries, or MHI, is a Japanese company. It is one of the core companies of Mitsubishi Group.-History:In 1870 Yataro Iwasaki, the founder of Mitsubishi took a lease of Government-owned Nagasaki Shipyard. He named it Nagasaki Shipyard & Machinery Works, and started the shipbuilding business on a full scale...
- Kawasaki Heavy Industries
FiatAvio
Avio S.p.A.
Avio S.p.A. is an Italian company operating in the aerospace sector with its head office in Rivalta di Torino, Turin, Italy. Founded in 1908, it is present in Italy and abroad with different commercial offices and 10 production sites...
withdrew as a shareholder of the program early on but the now-renamed Avio S.p.A. still remains as a supplier. The "V" product nomenclature remains as a legacy of the five original shareholders.
In October 2011, Rolls-Royce plc
Rolls-Royce plc
Rolls-Royce Group plc is a global power systems company headquartered in the City of Westminster, London, United Kingdom. It is the world’s second-largest maker of aircraft engines , and also has major businesses in the marine propulsion and energy sectors. Through its defence-related activities...
of the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
agreed to sell its 32.5% stake in the company to Pratt & Whitney, giving them a 65% stake in it.
Products
IAE had developed the abortive Superfan for the Airbus A340Airbus A340
The Airbus A340 is a long-range four-engine wide-body commercial passenger jet airliner. Developed by Airbus Industrie,A consortium of European aerospace companies, Airbus is now fully owned by EADS and since 2001 has been known as Airbus SAS. a consortium of European aerospace companies, which is...
. IAE's current purpose is the development, production and aftermarket services of the IAE V2500 aero engine family, which powers the Airbus A320 family
Airbus A320 family
The Airbus A320 family is a family of short- to medium-range, narrow-body, commercial passenger jet airliners manufactured by Airbus Industrie.Airbus was originally a consortium of European aerospace companies, and is now fully owned by EADS. Airbus's name has been Airbus SAS since 2001...
and McDonnell Douglas MD-90
McDonnell Douglas MD-90
The McDonnell Douglas MD-90 is a twin-engine, short- to medium-range, single-aisle commercial jet aircraft. The MD-90 was developed from the MD-80 series. Differences from the MD-80 include more fuel efficient International Aero Engines V2500 engines and a longer fuselage...
aircraft. The IAE V2500 turbofan is one of the most successful high bypass ratio engines in the world. IAE V2500's direct competitor is the CFM International CFM56
CFM International CFM56
The CFM International CFM56 series is a family of high-bypass turbofan aircraft engines made by CFM International , with a thrust range of . CFMI is a 50–50 joint-owned company of SNECMA, France and GE Aviation , USA. Both companies are responsible for producing components and each has its own...
.