Navy Taps Boeing to Produce Lot 90 Harpoon Missiles Under $207M FMS Contract

Boeing (NYSE: BA) has received a potential four-year, $207.5 million contract from the U.S. Navy for the full-rate production of 51 lot 90 Harpoon weapon systems for Egypt, South Korea and Brazil through a foreign military sales agreement.

The sole-source, firm-fixed-price contract also covers the production of spares and related components for the Navy as well as Australia, India, Japan, Kuwait, Oman, Taiwan, Thailand and the United Arab Emirates, the Defense Department said Wednesday.

The company will perform work in Alabama, Missouri, Texas, Ohio, Connecticut, Maryland, Oklahoma, Pennsylvania, Kansas and the U.K. through March 2021.

The Naval Air Systems Command will obligate $99.6 million from the service branch’s weapons procurement funds for fiscal 2017 and FMS funds at the time of award, according to DoD.

The Harpoon anti-ship missile platform has a GPS-aided inertial navigation tool that works to home in on targets on land and ships and is designed to be launched from submarines, surface ships, aircraft and shore batteries.

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