FILE PHOTO: A 777X banner is pictured above the 777 Wing Horizontal Build Line at Boeing's production facility in Everett, Washington, U.S. June 1, 2017. REUTERS/Jason Redmond/File Photo

(Reuters) - Boeing Co BA.N on Friday won approval from the U.S. regulator Federal Aviation Administration for the company's new foldable wingtips for its latest 777 jets.

The design, which will be incorporated in the world’s largest commercial planemaker’s Model 777-8 and 777-9 models, would allow the bigger wings to fit into the standard-sized airport parking space.

The feature will help reduce the wingspan to 212 feet from 235 feet when folded during ground operations.

Twin-engine, long-haul aircraft seating around 350 to 410 passengers is seen as the industry's next big battle with both Boeing and rival Airbus AIR.PA competing for a potential market of several thousand.