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  • Friday, April 19, 2024
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Air Force Adds Boeing, Raytheon to $400M Aerospace Tech Research IDIQ

Boeing (NYSE: BA) and Raytheon Technologies (NYSE: RTX) have joined the list of awardees on a U.S. Air Force research and development contract worth up to $400 million over seven years, the Department of Defense said Wednesday.

Five companies now hold spots on the Advanced Aerospace Systems Technology Research program.

General Atomics, Lockheed Martin (NYSE: LMT) and Northrop Grumman (NYSE: NOC) were the first awardees to secure positions on the multiple-award, indefinite-delivery/indefinite-quantity contract.

The Air Force will distribute $200,064 in fiscal 2023 R&D, test and evaluation funds to the two additional contractors at the time of award.

DOD noted the program’s main objective is to explore new aerospace vehicle designs, technologies and integrated systems for potential use across the Department of the Air Force.

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