The Bell Boeing V-22 Program, a strategic alliance between Bell Helicopter Textron Inc. (TXT) and Boeing (BA), has been granted a five-year U.S. Naval Air Systems Command or NAVAIR contract for the production and delivery of 99 V-22 Osprey tiltrotor aircraft, consisting of 92 MV-22 models for the U.S. Marine Corps and seven CV-22 models for the U.S. Air Force Special Operations Command.
The contract, valued at around $6.5 billion, is structured to provide about $1 billion in savings to the U.S. government compared with procurements through single-year contracts. Also, the contract includes a provision permitting NAVAIR to order up to 23 additional aircraft.
The V-22 Osprey is a joint service, multirole combat aircraft that uses tiltrotor technology to combine the speed and range of a fixed-wing airplane with the vertical performance of a helicopter. Over 200 V-22 Ospreys are now in operation and the worldwide fleet has amassed more than 185,000 flight hours, with half of those hours logged in the past three years.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.