The US Navy on Tuesday awarded Textron Inc's Bell Helicopter unit and Boeing Co a $1 billion contract to buy components for 16 V-22 tiltrotor aircraft through September 2009.

The Navy said the contract would pay for long lead components associated with the manufacture and delivery of 14 fiscal 2007 Lot 11 Marine Corps version of the plane, also known as the MV-22, and 2 fiscal 2007 Lot 11 Air Force versions, also known as the CV-22.

Copyright Reuters, 2005