Magellan Aerospace Corporation announced that it has signed an amendment to a long-term Revenue Sharing Agreement (RSA) with GE Aerospace to include the production of major components for the F414-GE-400K aircraft engine for the Korean KF-21 aircraft program. In mid-2024 Hanwha Aerospace and Korea Aerospace Industries (KAI) signed contracts with South Korea's national arms procurement agency to produce the first batch of indigenous KAI KF-21 4.5-generation fighter aircraft. A subsequent Defense Acquisition Program Administration contract with Hanwha Aerospace covered the delivery of 44 F414-GE-400 KF-21 aircraft program from 2025-2026.
Under the amended RSA, Magellan's facilities in Mississauga, ON and Winnipeg, MB, with expertise in manufacturing complex aeroengine assemblies, will deliver F414 engine frames to GE Aerospace in Lynn, Massachusetts over a 7-year period as the sole source provider for the KF-21 aircraft, the US Navy spares, and the Gripen F414-39E engine programs. The agreement is the latest milestone in a strong, mutually beneficial relationship between the companies that dates back more than six decades.
Magellan Aerospace Corporation is a diversified supplier of components to the aerospace industry. Through its wholly owned subsidiaries, controlled entity and joint ventures, the Company designs, engineers and manufactures aero-engine and aerostructure components for aerospace markets, including advanced products for defense and space markets, and complementary specialty products. The Company also supports the aftermarket through the supply of spare parts as well as performing repair and overhaul services. The Company operates in the aerospace segment, which includes the design, development, manufacture, repair and overhaul, and sale of systems and components for defense and civil aviation. Its products include Engine Cold Section, Engine Hot Section, Engine Shafts, Black Brant, RATO Booster Motors, CRV7 Rocket Weapon System, Small Satellite Bus Platforms, and Manufactured Components and Assemblies, among others.
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