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Boeing to Help Air Force Build Turboprop Engine System


boeing logoThe U.S. Air Force has awarded Boeing (NYSE: BA) a potential $30 million contract to develop a turbo propulsion technology under the military service’s Versatile Affordable Advanced Turbine Engines III program.

The Defense Department said Thursday USAF received 34 bids through a competitive procurement and is obligating $106, 502 at the time of award from fiscal 2014 research, development, testing, and evaluation funds.

The VAATE initiative is created through a public-private partnership and aims to advance military and commercial aviation engine technology.

Boeing will perform work through March 12, 2023, in Huntington Beach, California.

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