Breaking News- (UAV) Unmanned Aerial Vehicle Program Awarded Contract

News Release

Bell Helicopter subsidiary elected to Provide Unmanned Tiltrotor Aerial Vehicle for Coast Guard's Deepwater Program

- $1 Billion Program for Revolutionary Unmanned Tiltrotor to Help Modernize USCG

Providence, Rhode Island - February 8, 2003 - Further validating the versatility of its tiltrotor technology, Textron Inc. (NYSE:TXT) today announced that its Bell Helicopter subsidiary has been selected for the first phase of the Unmanned Aerial Vehicle (UAV) portion of the U.S. Coast Guard's Integrated Deepwater System contract.

ADVERTISEMENT

How to advertise here

Bell expects to receive funding over the next three years for the design and development of three Bell Eagle Eye unmanned tiltrotor aerial vehicles (UTAV). Under proposed funding plans, the program calls for ultimate delivery of 69 aircraft and 50 ground control stations with an expected total program value of at least $1 billion.

"The opportunity to assist the Coast Guard in the defense of our homeland is an honor," said John Murphey, chairman and CEO of Bell Helicopter. "UTAV technology adds performance benefits which are simply not available in other helicopter drones. Superior speed, flexibility and payload capability make the Bell Eagle Eye a perfect fit for the Coast Guard's missions," he added. The Bell Eagle Eye's tiltrotor technology allows the aircraft to take off and land like a helicopter and fly like an airplane. This technology gives the Bell Eagle Eye UTAV superior speed and flexibility over a typical UAV. With its rotors tilted forward it can cruise at speeds over 200 knots, find moving targets 80-110 nautical miles away in minutes and be easily re-tasked in-flight for another mission. It also has the ability to loiter over a target 100 nm away for four hours. The Bell Eagle Eye is both land and ship deployable given its ability to operate from confined spaces.

Deepwater is a critical multi-year program to modernize and replace aging ships and aircraft, and improve command and control and logistics systems within the Coast Guard. For this award, Bell Helicopter is a subcontractor to Lockheed Martin Naval Electronics & Surveillance Systems, which is a major subcontractor to Integrated Coast Guard Systems, a joint venture of Lockheed Martin and Northrop Grumman.

Bell Helicopter Textron, a Textron Inc. subsidiary, is a $1.6 billion, leading producer of commercial and military helicopters, and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for customer service, innovation and superior quality, Bell's global workforce of over 7,500 employees serves customers flying Bell aircraft in over 120 countries Textron Inc. is an $11 billion multi-industry company with more than 49,000 employees in 40 countries. The company leverages its global network of businesses to provide customers with innovative solutions and services in industries such as aircraft, fastening systems, industrial products and components and finance. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, Kautex, Lycoming, E-Z-GO and Greenlee, among others.

Comment via FEEDBACK

What related topics would you like to see covered?

What additional information on this topic would you find useful?

Forward-looking Information: Certain statements in this release and other oral and written statements made by Textron from time to time are forward-looking statements, including those that discuss strategies, goals, outlook or other non-historical matters; or project revenues, income, returns or other financial measures. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including the following: (a) the extent to which Textron is able to achieve savings from its restructuring plans, (b) uncertainty in estimating the amount and timing of restructuring charges and related costs (c) changes in worldwide economic and political conditions that impact interest and foreign exchange rates, (d) the occurrence of work stoppages and strikes at key facilities of Textron or Textron's customers or suppliers, (e) government funding and program approvals affecting products being developed or sold under government programs, (f) cost and delivery performance under various program and development contracts, (g) the adequacy of cost estimates for various customer care programs including servicing warranties, (h) successful implementation of various cost reduction programs, (i) the timing of certifications of new aircraft products, (j) the occurrence of further downturns in customer markets to which Textron products are sold or supplied, (k) Textron's ability to offset, through cost reductions, raw material price increases and pricing pressure brought by original equipment manufacturer customers, (l) the availability and cost of insurance, (m) pension plan income falling below current forecasts, (n) Textron Financial's ability to maintain credit quality and control costs; and (o) uncertainty in estimating contingent liabilities and establishing reserves tailored to address such contingencies.

Please patronize our many sponsors, affiliates and advertisers today so that we may bring you more advanced services tomorrow. Have you seen the great deals from top brand name manufacturers?

Jobwerx makes no representation as to the accuracy of information transmitted herein.