Bombardier's Belfast operation has been chosen to develop and manufacture a new engine component for Airbus's A320neo series of aircraft.
Bombardier Aerostructures and Engineering Services division already supplies a number of Airbus programmes.
The latest deal will involve working on nacelles, or engine casings.
Stephen Addis, a Bombardier vice-president, said: "We are delighted to have been selected as a supplier on this new nacelle, which will enable us to build on the relationship we already have with Airbus.
"This work package reinforces our long-term strategy to grow our capabilities in the nacelles market and to focus on delivering innovative, higher value products and services in an extremely competitive global environment."