Home / Contract Awards / Report: Lockheed, Boeing Competing For $7B South Korea Fighter Jet

Report: Lockheed, Boeing Competing For $7B South Korea Fighter Jet

Lockheed Martin (NYSE: LMT) and Boeing (NYSE: BA) have submitted their bids for a $7 billion South Korean fighter jet contract, Bloomberg reports.

Lockheed’s F-35 and Boeing’s F-15 Silent Eagle are among the competitors, South Korea’s Defense Acquisition Program Administration said, according to Sangwon Yoon and Kyunghee Park.

The country plans to finalize the 60-jet order by October, but a December presidential election could delay the decision, local newspaper Hankook Ilbo reported June 16.

In December, Japan agreed to purchase 42 F-35 jets, potentially costing more than $4 billion and making it the country’s largest-ever fighter acquisition.

South Korea bought 60 F-15s in 2002 and 2007, according to the report.

Other News

ITphoto

Arrow Electronics Closes immixGroup Buy

Arrow Electronics (NYSE:ARW) has completed its purchase of immixGroup in a move to grow Arrow’s ...

GovConIndexDOWN

March 31 Market Close: GovCon Index Retreats, Market Shows Jitters Ahead of Earnings Season

The GovCon Index retreated from Monday’s gain to record a loss of 1.154 percent and close ...