June 19 (UPI) -- The Department of Defense announced it has awarded a contract to MACRO Industries for hardware in support of the V-22 aircraft.
The contract award, from Naval Air Warfare Center Aircraft Division and announced on Monday, is valued at more than $20.4 million under the terms of a fixed-price indefinite-delivery, indefinite-quantity contract. The deal enables MACRO Industries to provide 200 Ballistic Protection System panel sets and single floor spares for V-22 aircraft, according to the Defense Department.
The V-22 Osprey is a tiltrotor helicopter designed for vertical takeoff and landing, but sports the capabilities for long-range flights like a turboprop aircraft. The Osprey is primarily used by the U.S. Marine Corps and Air Force.
Work on the contract will occur in Huntsville, Ala., and is expected to be complete in June 2023.
More than $7.1 million will be obligated to MACRO Industries at the time of award. More than $4.2 million of those funds will expire at the end of the current fiscal year in September.
The obligated funds will be allocated from Navy fiscal 2016 and 2017 aircraft procurement funds, the Pentagon said.