Approaching the Bell-end?

On the eve of the annual bun-fight that is Heli-Expo, I'm struck by the different messages emanating from Bell -- an OEM in the business since Day 1 -- and the Johnny-come-lately that is Eurocopter. As indicated by my last post, as it celebrates 20 years of operation, EC continues to invest and innovate. There's no lack of new products and plenty of evidence that it listens closely to what the customers need, and reacts accordingly.

Bell, on the other hand, appears to be living in the past. It has just announced the delivery of its 4,000th commercial helicopter -- a sixties-era Long Ranger. That's still an impressive statistic; they make great machines and their customer support operation continues to lead the world (no matter how hard it tries, EC still doesn't 'get' CS). But where's the innovation?

Bell's contribution to the combat-proven V-22 Osprey is now token at best. Given the helicopter's subsequent triumph in the marketplace, selling Bell's share in the AB139 to Agusta(Westland) was a major strategic blow. Although the jury is still out on tilt-rotor, who's to say the BA sorry AW609 -- on course for certification during 2012 -- isn't on course for success? Maybe not on the level of the 139 but it will be introduced to customers ahead of both the (Sikorsky) X2 and X3 and at least they'll be in with a shout during what surely must become the most exciting decade in the helicopter's evolution since the sixties.

So I'm looking forward to the EC and AW press events at Heli-Expo in Dallas. Sikorsky too; Jeff Pino will update on the X2 compound, now the S-97 Raider and another exciting prospect. I'll dutifully turn up for Bell and will listen glumly to its charisma-lite CEO Jim Garrison talk up its latest avionics tweak to the B429 or LongRanger delivery. I may even take notes. But I can't remember a word of what he said in 2011 and I suspect that, as I emerge blinking into the Texas sunlight, this one will go the same way.

Who will take bets on Bell surviving as a commercial helicopter manufacturer? Given the economic outlook, something will surely have to give.