The report said Rolls-Royce will launch a year-long campaign to pursue the contract and will look to create 150 jobs in Indianapolis if the company wins.
A winning bid could yield positions at the company in areas such as manufacturing, program management and engineering.
Tom Bell, president Rolls-Royce's defense business, said the company invests in advanced manufacturing and technology platforms at its Indianapolis facility.
The company intends to offer its F130 engine for the B-52 fleet. The engine powers Air Force platforms such as the E-11A and C-37.
In 2017, the service announced its plan to replace the more than 60-year-old TF33 engines currently used on B-52s.