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Bell-Boeing Team Secures $302M for USMC Tiltrotor Production Services

The joint venture of Boeing (NYSE: BA) and Textron‘s (NYSE: TXT) Bell subsidiary build four MV-22B tiltrotor aircraft for the U.S. Marine Corps under a $302.1 million contract modification awarded by Naval Air Systems Command.

The Navy will use its aircraft procurement funds for fiscal 2022 to provide the full amount to Bell Boeing Joint Project Office at the time of award, the Department of Defense said Friday.

The MV-22B is an Osprey variant designed to function as a vertical or a short takeoff-and-landing aircraft and facilitate the transportation of USMC personnel, equipment and supplies, according to the Navy.

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