[3][4] In 2014, Gulfstream looked at a re-engine with the Rolls-Royce Pearl BR700 development announced in May 2018 for the new Global Express 5500 and 6500 variants but preferred the BR725-powered, 7,500 nmi G650.

[9] As it was replaced by the Gulfstream G600 by October 2019, the G550 was kept in limited production for long-term special missions applications and government orders.

[11][12] Compared to the Gulfstream V, drag reduction details boost range by 250 nmi (460 km) and increase fuel efficiency.

A seventh pair of windows is added and the entry door is moved 2 ft (0.61 m) forward to increase usable cabin length.

It competes against the Bombardier Global 6000, which has higher direct operating costs and less range but a more spacious cross section, and the Dassault Falcon 7X with fly-by-wire flight controls, better fuel efficiency and a wider but shorter cabin.