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Bell-Boeing Wins $81M Deal to Support CV-22 Tiltrotor Program
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Bell-Boeing, a joint venture (JV) between The Boeing Company (BA - Free Report) and Bell Helicopter — a unit of Textron Inc. (TXT - Free Report) — recently secured a contract involving the CV-22 aircraft program. Work related to the deal is scheduled to be completed by June 2024.
Details of the Deal
Valued at $81 million, the contract was awarded by the Naval Air Systems Command, Patuxent River, MD. Per the terms, the JV will offer continued non-recurring engineering support for the CV-22 aircraft. It will also ensure recurring procurement of kits and installs to support the forced retrofit fleet implementation and installation of nacelle improvements and the conversion area harness onto the CV-22 aircraft for the Air Force.
Majority of the task will be executed in Amarillo, TX.
Growing Jet Demand & V-22 Jets
A rapid increase in terror attacks has compelled nations to strengthen their arsenal and bump up defense budget. With the United States being the largest exporter of defense equipment across the world, the nation enjoys a steady flow of contracts for its combat-proven weaponries from both Pentagon and its foreign allies. With military jets and helicopters constituting a major portion of a nation’s armaments, there is a steady flow of contracts for these weaponries.
Notably, Bell-Boeing’s primary product, V-22 Osprey is a family of multi-mission, tiltrotor military aircraft with both vertical as well as short takeoff and landing capabilities. It is designed to combine the functionality of a conventional helicopter with long-range, high-speed cruise performance of a turboprop aircraft. Notably, the CV-22 is a variant of the V-22 family of jets and helps to conduct long-range infiltration, exfiltration and resupply missions for special operations forces.
Considering these features of the aforementioned family of tiltrotor, no doubt with growing demand for military aircraft V-22 and its variants enjoy a decent demand pool across the globe. The latest deal win is a bright example of that.
Jet Manufacturers’ Prospects
Per a forecast made by Research and Markets firm, the global military aircraft market size is projected to register CAGR of more than 2.5% during the 2020-2025 period. This surely is going to benefit major U.S. combat aircraft manufacturers like Bell-Boeing, Lockheed (LMT - Free Report) and Northrop Grumman (NOC - Free Report) , with North America dominating this market space.
Price Movement & Zacks Rank
Textron’s stock has gained 8.6% in the past year against the industry’s decline of 19.8%. Boeing’s shares have lost 33.5% in the past year compared with the industry’s decline of 19.8%.
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Bell-Boeing Wins $81M Deal to Support CV-22 Tiltrotor Program
Bell-Boeing, a joint venture (JV) between The Boeing Company (BA - Free Report) and Bell Helicopter — a unit of Textron Inc. (TXT - Free Report) — recently secured a contract involving the CV-22 aircraft program. Work related to the deal is scheduled to be completed by June 2024.
Details of the Deal
Valued at $81 million, the contract was awarded by the Naval Air Systems Command, Patuxent River, MD. Per the terms, the JV will offer continued non-recurring engineering support for the CV-22 aircraft. It will also ensure recurring procurement of kits and installs to support the forced retrofit fleet implementation and installation of nacelle improvements and the conversion area harness onto the CV-22 aircraft for the Air Force.
Majority of the task will be executed in Amarillo, TX.
Growing Jet Demand & V-22 Jets
A rapid increase in terror attacks has compelled nations to strengthen their arsenal and bump up defense budget. With the United States being the largest exporter of defense equipment across the world, the nation enjoys a steady flow of contracts for its combat-proven weaponries from both Pentagon and its foreign allies. With military jets and helicopters constituting a major portion of a nation’s armaments, there is a steady flow of contracts for these weaponries.
Notably, Bell-Boeing’s primary product, V-22 Osprey is a family of multi-mission, tiltrotor military aircraft with both vertical as well as short takeoff and landing capabilities. It is designed to combine the functionality of a conventional helicopter with long-range, high-speed cruise performance of a turboprop aircraft. Notably, the CV-22 is a variant of the V-22 family of jets and helps to conduct long-range infiltration, exfiltration and resupply missions for special operations forces.
Considering these features of the aforementioned family of tiltrotor, no doubt with growing demand for military aircraft V-22 and its variants enjoy a decent demand pool across the globe. The latest deal win is a bright example of that.
Jet Manufacturers’ Prospects
Per a forecast made by Research and Markets firm, the global military aircraft market size is projected to register CAGR of more than 2.5% during the 2020-2025 period. This surely is going to benefit major U.S. combat aircraft manufacturers like Bell-Boeing, Lockheed (LMT - Free Report) and Northrop Grumman (NOC - Free Report) , with North America dominating this market space.
Price Movement & Zacks Rank
Textron’s stock has gained 8.6% in the past year against the industry’s decline of 19.8%. Boeing’s shares have lost 33.5% in the past year compared with the industry’s decline of 19.8%.
Both Textron and Boeing currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Download Marijuana Moneymakers FREE >>