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GE Receives $220M Contract Option for Navy Super Hornet Aircraft Engines

General Electric (NYSE: GE) will manufacture 48 F414-GE-400 turbofan engines and associated devices for the U.S. Navy's F/A-18 production units after the service branch exercised a contract option valued at $220M.

The Department of Defense said Tuesday it expects the company to finish work under the exercised option in August 2023. Naval Air Systems Command will use the branch's fiscal 2021 aircraft procurement funds to cover the full obligated amount.

GE Aviation designed the F414-GE-400 engine technology to produce up to 22K pounds of thrust and power Boeing-built (NYSE: BA) Super Hornet jets and Growler electronic attack planes.

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