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Boeing Wins $409M IDIQ Spot Under AF Thermal, Power, Controls Research Program

The U.S. Air Force has selected Boeing (NYSE: BA) as the latest awardee under a potential $409 million contract to help the military branch  develop thermal, power and controls systems for air platforms.

The Defense Department said Thursday Boeing will participate in the Next Generation Thermal, Power, and Controls program that covers applied research and technology development efforts.

Five companies now hold spots on the indefinite-delivery/indefinite-quantity contract that will run through July 2024.

Other participants in the NGT-PAC program are Lockheed Martin (NYSE: LMT), Northrop Grumman (NYSE: NOC), General Electric (NYSE: GE) and Honeywell (NYSE: HON).

The Air Force Research Laboratory received seven proposals for the IDIQ through a competitive acquisition process.

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