Rolls-Royce (LON:RR) surprised markets with the announcement of a new engine family for its business aviation unit, designed to push the troubled company back to the forefront of the market.

The Pearl engine has been purpose-built and will be the sole engine for Bombardier’s latest business jets, the Global 5500 aircraft and the Global 6500 aircraft.

Rolls-Royce have issued several profit warnings over the last five years, after its leadership in the industry began to be overtaken by rival companies including Pratt & Whitney and Snecma. However, it maintains a 42 percent share of the market, a percentage designed to be expanded upon by the surprise new range of engines.

Chris Cholerton, Civil Aerospace President at Rolls-Royce, said:

“Our teams have worked hard behind the scenes to develop this new engine and we are proud, once again, to lead the way in business aviation. The Pearl engine is a pioneering product, bringing together the most eco-friendly and efficient technologies available today.”

Shares in Rolls-Royce are trading down on the news however, down 2.44 percent at 822.,80 (0935GMT).