Textron stock jumps after Army Helicopter Contract

In premarket trading on Tuesday, Textron stock were gaining around 9%.

After Bell Textron has won the Future Long-Range Assault Aircraft (FLRAA) competition held by the US Army.

Up to $1.3 billion will be given to the American aerospace company to produce the next-generation aircraft.

The initial contract will involve the supply of virtual prototypes to assist design, integration, development test, and training activities, the Army announced on Monday.

The FLRAA will replace the UH-60 Black Hawk helicopter.

Under the terms of the deal, Bell Textron will improve the design of the weapon systems 

Offer support for manufacturing, sustainment, digital enterprise, flight testing, airworthiness certification, and systems integration.