Gulfstream is developing clean sheet successors to its G450 and G550 large-cabin business jets, incorporating concepts and systems designed for its flagship G650.
Industry sources familiar with the new aircraft say that the smaller model, set to replace the G450, is currently in the engine selection phase for the first of the two aircraft.
Gulfstream declined comment, saying the company "does not comment on new programs or rumors of new programs until it is ready to announce a program publicly."
The company is currently holding a competition to select a next generation engine to power the new aircraft, say industry sources.
The G450 sports a range of 4,350nm at M.88 with eight passengers and three aboard.
Production of the G450 and G550 has slowed in the past year as the global recession forced deferrals and cancellations of the company's large-cabin aircraft.
Gulfstream expects to deliver 77 large-cabin G450 and G550 aircraft this year, up from 75 in 2009, but still down from 2008 when the airframer delivered 87.
One industry analyst say that the company's book-to-bill ratio is less than one, meaning that Gulfstream's backlog for the large-cabin G450 and G550 aircraft is declining as deliveries outpace new orders.
Gulfstream's G650 flagship is currently undergoing an 1,800h flight test campaign that began in November 2009 and will culminate in certification in 2011 with entry into service the following year.