Investing for future growth, organically and through acquisitions, is a key strategy for Textron. Here are a few notable examples.
Bell continued its pursuit of the Army’s Future Vertical Lift programs, which remain a key part of their long-term outlook. The V-280 Valor continued to fly in support of the competitive demonstration and risk reduction phase on the Future Long Range Assault Aircraft program. In December, the V-280 celebrated the third anniversary of its first flight and has achieved over 200 hours of flight time. On the Future Attack Reconnaissance Aircraft program, the U.S. Army selected the 360 Invictus to move to the second phase of the competitive prototype program.
Textron Aviation continued to invest in its growing portfolio throughout an uncertain year. In May, the Cessna SkyCourier achieved first flight and completed over 400 hours of flight test by December. This new product is on track for entry into service in 2021. Demonstrating commitment to investing in existing products, Aviation announced the King Air 360 and King Air 260, offering technological advancements in the cockpit and enhancements to passenger comfort. In the fourth quarter of 2020, eight King Air 360 units were delivered. Deliveries of the King Air 260 will begin in the first quarter of 2021.
Textron systems received a vote of confidence from the U.S. Navy on the Ship-to-Shore Connector program when they were awarded a follow-on production contract for additional craft in April. The Ship-to-Shore program also achieved a significant milestone with the fly-away of the first two craft to the Naval Surface Warfare Center in Florida. Systems’ adversary air business, ATAC, won multiple awards within the U.S. Air Force Combat Air Force Contracted Air Support program and the Navy and Marine Corps Fighter Jet Services program. Systems was also awarded a contract to support the Air Force’s Ground Based Strategic Deterrent program over the next six years, under prime contractor Northrup Grumman.
INDUSTRIAL also faced a challenging year in its end markets during 2020. During the year, Kautex won new contracts with major automotive OEMs for their new hybrid fuel systems. Textron Specialized Vehicles continued its new product development and invested in additional lithium ion battery technology across its golf and turf portfolio.