Boeing Wins $805M Navy Unmanned Aerial Refueler EMD Contract; Leanne Caret Quoted

Leanne Caret

Boeing (NYSE: BA) will build four MQ-25 Stingray carrier-based drones for the U.S. Navy under a potential six-year, $805.3M engineering and manufacturing development contract.

“As a company, we made an investment in both our team and in an unmanned aircraft system that meets the U.S. Navy’s refueling requirements,” Leanne Caret, president and CEO of Boeing’s defense, space and security business, said in a statement released Thursday

Work will primarily occur in St. Louis through August 2024 under the fixed-price-incentive-firm-target contract that also covers design, fabrication, testing, certification and verification support services, the Defense Department said Thursday.

Boeing will integrate the unmanned vehicles with the carrier air wing to achieve initial operational capability by 2024.

Naval Air Systems Command received three offers for the contract and will obligate $79M in fiscal 2018 research, development, test and evaluation funds at the time of award.

MQ-25 is meant to increase the range of the Navy’s deployed fighter jets through its refueling capability.

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