The contract is worth as much as $1.3 billion with development expected to take 19 months.
Bell Textron Inc. to build a new long-range assault aircraft
In a statement, the Army said the new machine will “provide transformational increases in speed, range, payload and endurance to replace a portion of the Army’s current assault and utility aircraft fleet.” The stakes were especially high for Textron’s Bell division, which is looking to offset declining sales for its V-22 Osprey. Without the contract, Bell Military revenue was expected to decline from $1.8 billion this year to $802 million by 2026, according to analyst Sheila Kahyaoglu of Jefferies. She estimated that at peak production, the Black Hawk replacement could reap $11 per share for Textron.
While it lost the contest, the news isn’t all bad for Lockheed. It is one of the largest contractors for the V-280, supplying the craft’s cockpit and avionics, Seifman said. The company will continue to build Black Hawk models until at least the middle of next decade. In June, the Army awarded it a multi-year contract for 120 Black Hawk’s with options for 135 more, he added.
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