Boeing Wins $244M for Poseidon ISR Plane Production Material

Boeing (NYSE: BA) has won a $244, 894, 000 contract to provide the U.S. Navy with long-lead materials for P-8A Poseidon aircraft production, the Defense Department announced Friday.

This sole-source contract contains firm-fixed-price provisions and supports manufacturing of 13 Poseidons.

Nearly 64 percent of the work will occur in Seattle and the rest at four other sites in the U.S., with delivery scheduled to finish by April 2016.

In November, the company won a $1.7 billion contract for seven of the maritime surveillance planes, modeled off the 737 commercial jet.

The Navy plans to eventually purchase 117 Poseidons for anti-submarine warfare, anti-surface warfare and intelligence, surveillance and reconnaissance missions.

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