Norway Eyes $1.2B Boeing Poseidon Maritime Plane Buy

Boeing P-8A PoseidonNorway’s defense ministry looks to purchase five Boeing-developed (NYSE: BA) maritime patrol aircraft worth approximately $1.15 billion for the country’s armed forces.

The ministry said Friday it plans to acquire the P-8A Poseidon for efforts to monitor the country’s oceans and offer allied civil and military authorities with a basis for decisions with the use of new modern sensors and weapons.

The maritime patrol aircraft will replace the current fleet of six P-3 Orion and three DA-20 Jet Falcon units and the contract will also cover modern sensors, surveillance systems, anti submarine weapons and support systems.

“The ability to handle current and future challenges must therefore be strengthened, ” said Ine Eriksen Soreide, Norway’s defense minister.

Poseidon aircraft is built to cover large areas for prolonged periods and designed to both detect, identify, track and frame adversaries’ activities under water.

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