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  • Friday, April 26, 2024

Boeing Joins $499M Air Force Vehicle R&D Contract


Boeing (NYSE: BA) has won a position under the U.S. Air Force‘s potential eight-year, $499 million contract to research and develop aerospace vehicle technologies.

The Defense Department said Wednesday Boeing will support the Aerospace Systems Air Platform Technology Research program from a company facility in Hazelwood, Missouri, through Aug. 31, 2025.

The Air Force initially awarded the first two contract spots to Northrop Grumman (NYSE: NOC) and Aurora Flight Sciences in early August, then added Lockheed Martin (NYSE: LMT) to the program within a week.

The three companies were joined by Textron Systems‘ (NYSE: TXT) AAI Corp. subsidiary and General Atomics‘ aeronautical systems business in late August.

The Air Force Research Laboratory received six offers for the indefinite-delivery/indefinite-quantity contract and will obligate $100,000 at the time of award from fiscal 2017 R&D funds.

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