Textron Inc (TXT) announced that Bell Textron Inc., a Textron company, has been awarded the development contract for the U.S. Army's Future Long-Range Assault Aircraft program. The award is based on Bell's V-280 Valor tiltrotor. The company said the initial contract refines the weapon system design, sustainment, digital enterprise, manufacturing, systems integration, flight-testing, and airworthiness qualification.
Keith Flail, executive vice president, Advanced Vertical Lift Systems at Bell, stated: "Bell stands ready with our world-class manufacturing facilities to apply our nearly seven decades of tiltrotor expertise to deliver a modern FLRAA fleet to the Army."
Shares of Textron were up 8% after hours on Monday.
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