Boeing-Bell JV Gets $4.2B Contract Modification to Build Tiltrotor Aircraft for US Military, Japan

A joint venture of Boeing (NYSE: BA) and Textron‘s (NYSE: TXT) Bell Helicopter subsidiary has been awarded a potential $4.19 billion contract modification to produce different variants of the V-22 tiltrotor aircraft for three U.S. military services and the Japanese government.

Bell-Boeing Joint Project Office will provide 39 CMV-22B units to the U.S. Navy, one  CV-22B to the U.S. Air Force and 14 MV-22B units to the U.S. Marine Corps, the Defense Department said Friday.

The modification converts a previously awarded advance acquisition contract into multiyear, fixed-price-incentive-fee contract and includes a foreign military sale of four MV-22Bs to Japan.

The Naval Air Systems Command will obligate $1.11 billion at the time of award from the Navy, Air Force and Marine Corps’ fiscal 2017 aircraft procurement funds.

Editor’s Note 7/4/18: DoD said the modification awarded to Bell-Boeing JPO on June 29 had an incorrect number of aircraft. The story above was updated to state the correct number of MV-22B aircraft Marine Corps would receive from the contractor.

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