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  • Friday, November 22, 2024

Boeing-Bell JV Awarded $1.6B for US Military Osprey Aircraft Tech Support

A joint venture between Boeing (NYSE: BA) and Textron‘s (NYSE: TXT) Bell subsidiary has secured a potential four-year, $1.64 billion contract to provide hardware supply support for Osprey military tiltrotor aircraft being used by the U.S. Navy, Marine Corps and the Air Force.

Bell Boeing will help the three service branches manage an inventory of 228 CMV-22, MV-22B and CV-22 aircraft components under the firm-fixed-price, performance-based logistics requirements contract from Naval Supply Systems Command, the Department of Defense said Thursday.

The JV is set to receive a $246.6 million initial delivery order and a funding commitment of an additional $82.2 million for work to be carried out through December 2022.

Ninety-seven percent of efforts under the contract will take place in Texas and the remaining 3 percent in Pennsylvania, through December 2026.

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