A joint venture of Boeing Co and Bell Helicopter, a unit of Textron Inc, is awarded a $4,2 billion contract for the manufacture and delivery of new V-22 Osprey medium-lift, multimission tilt-rotor aircraft, the US Department of Defense (DoD) announced on 29 June.

According to DoD, the contract covers the manufacture and delivery of  39 CMV-22Bs for the US Navy; 34 MV-22Bs for the US Marine Corps; one CV-22B for the US Air Force, and four MV-22Bs for the Government of Japan.

The order is expected to be completed in November 2024, the statement said.

The aircraft operates as a helicopter when taking off and landing vertically. The nacelles rotate 90° forward once airborne, converting the aircraft into a turboprop aircraft.

More: V-22 Osprey of JGSDF spotted during flight trials in USA

The aircraft can provide VTOL (vertical take-off and landing) with a payload of 24 troops, or 6,000lb of cargo at 430nm combat range, or VTOL with a payload of 8,300lb of cargo for a range of 220nm.