The U.S. Air Force is requesting $11.8 billion in funding to build a new long-range bomber, Bloomberg News reported Thursday.
Tony Capaccio writes the branch intends to acquire up to 100 Long-Range Strike Bomber units for $55 billion total over five years.
Air Force Secretary Deborah Lee James said earlier this month at a Bloomberg Government conference that the branch could issue a request for proposals later this year, according to the report.
Citing the Air Force’s budget projections, the publication reports development spending for the aircraft could reach $914 million in fiscal 2015, $1.6 billion in fiscal 2016 and $3.5 billion in fiscal 2019.
Lt. Gen. Charles Davis told a conference in Washington that each aircraft unit could cost more than $550 million, according to the report.
Capaccio writes that Northrop Grumman (NYSE: NOC) and a joint venture of Lockheed Martin (NYSE: LMT) and Boeing (NYSE: BA) plan to bid on the project.