Osprey: 21st-Century Helicopter

(CBS)  It is supposed to be the helicopter of the 21st century, and Secretary of Defense William Cohen says it will revolutionize military operations, reports CBS News National Security Correspondent David Martin.

Able to fly like an airplane and hover like a helicopter, the first of some 360 V-22s the Marine Corps plans to buy arrived at the Pentagon with all the ceremony usually reserved for visiting dignitaries.

"It's going to change the way in which we approach everything from assault operations to disaster relief to humanitarian aid and peacekeeping," said Cohen.

The Marines' existing fleet of helicopters will eventually be replaced by the Osprey, which the Marines say can fly twice as fast, four times farther and carry twice as much weight.

"The V-22 is going to cut our response time from weeks down to days and from days down to hours," said Cohen.

The Pentagon plans to spend about $20 billion buying the V-22s - a price tag that convinced the Bush Administration to cancel the program, particularly after one of the test models crashed. But then-presidential candidate Bill Clinton knew a jobs program when he saw one and promised to buy the V-22.

So, the Marines finally got their plane - or rather their helicopter - although it will still be another four years before the first Ospreys are ready to go into action.