The U.S. Navy has awarded Textron’s (NYSE: TXT) Bell Helicopter subsidiary a $509.8M contract modification to produce and deliver 29 twin-engine attack helicopters as part of the U.S. Marine Corps’ H-1 modernization effort.
Bell Helicopter will provide lot 15 AH-1Z new build aircraft, as well as obtain long-lead items and components for seven additional lot 16 units, the Defense Department said Thursday.
The Naval Air Systems Command issued the modification under a previously awarded advance acquisition contract and will obligate the full amount from the service branch’s fiscal 2018 aircraft procurement funds at time of award.
Work will will take place in Fort Worth and Amarillo, Texas, until February 2021.
AH-1Z is based on the AH-1W SuperCobra and equipped with targeting sensor that supports deployment of missiles, rockets and guns.