The first XV-15 prototype aircraft, N702NA, was transferred back to Bell for company development and demonstration use. On 20 August 1992, the aircraft crashed while being flown by a guest test pilot. He was lifting off for a final hover when a bolt slipped out of the collective control system on one pylon, causing that rotor to go to full pitch. The aircraft rolled upside down out of control and crashed inverted. While significantly damaged, the aircraft was largely structurally intact and both the pilot and copilot escaped with only minor injuries from the crash. The cockpit of the aircraft was salvaged and converted for use as a flight simulator.