You are talking about the early KRS styling like mine, years 1997 to 2000. You would probably need to end up with something getting close to the later KGT. That certainly would need a complete front end design rethink and molding/profile expertise.
Nothing wrong with GRP if it will take the same paint finish, although the oem uses a plastic close to Xenoy or PET+PC. I doubt you will get colored gel coats to match the oem color schemes. The large side panels are hugely expensive and you should see what you can achieve working with them or modifying them.
My advice on the frontal area is to do something BMW didn't seem to get right. The 'nose' and headlight mount needs to go further forwards over the front fender and the frontal bodywork should have some sweep to the sides for better hand protection from wind and rain on higher bars.
This would allow a shallower angle on the windshield rake and produce less turbulence whilst reduce the aggressive oem flip up at the top of the screen (which is really a bad fudge for the more vertical oem screen angle). As an example, for an average rider height and inseam, the top edge of the screen should sit about 2 inches below the eye line. Draw that line forwards using an optimum 45 degrees and see where that would put the front molding and headlight. Look at the 'mild' comfort bar risers which raise the grips to a similar height to the KGT. 45 degrees is a good starting angle but the further away from vertical the better. You need to incorporate wind protection for hands on bars at that increased height, which extends just out from the bar ends and not just the stock RS bars which are lower. That is an important shape, because any water hitting the front needs to be swept away each side of the rider away from the bike and not on the torso. I think that will set the forward horizontal lines of the front plastics much higher than they are at the moment giving the bike a more tourer/cruiser look than a sport bike but some may be happy with that.
Starting from scratch, you might be able to make a single piece molding with a fixed curved screen (grey polycarb tint is nice) and do away with the separate parts the oem used - winglets, hand guards etc. In the old days, they called this a one piece nose fairing, commonly fitted on naked street bikes. Leg protection from weather is already pretty good for the K, so don't mess with that! I never had an electric raising screen on a street bike fitted with the correct size screen height on an aftermarket fairing, never needed it because weather just went smoothly over my helmet with zero buffeting. In Summer when I wanted a bit more breeze I fitted a slightly shorter screen.
It will be challenging to keep style to the front of the bike without creating a huge barn door screen and width as offered by some aftermarket companies. They take the easy path by forming a big screen from polycarb and selling as an addon. If you are clever, you can produce a custom color matched nose body shape with much improved weather protection and a screen in proportion to the bike, as it is at the moment. You will probably need custom replacement nose mountings, because they are designed to work with the present bodywork and are not strong enough for new bodywork which may be heavier in GRP and with greater wind resistance holding a larger structure. Unless you can get some wind tunnel testing done, you could run into high speed stability problems. They are probably there already with much larger ugly screen addons, but riders treat speed with respect.
Designing small scale will be very expensive and you should have some idea how many 'units' need to be sold and at what price to cover your costs. Start with some scale model mockups to see what it might look like. If you trawl though the membership lists you may get an idea of those members with the older KRS.
Like Mr Porsche, your end result needs to be functional, yet still retain the good appearance and style of the Classic KRS, even if it may look different.
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