Boeing (BA) has been awarded a combination of multiyear contracts valued at approximately $2.7B to produce additional Patriot Advanced Capability-3 seekers. Under the agreements, Boeing will deliver more than 3,000 seekers at rates of up to 750 units per year through 2030. Boeing is working closely with prime contractor Lockheed Martin (LMT) and the U.S. Army to further increase production rates and meet new targets for the PAC-3 interceptor. Scaling seeker output is critical to ensuring the Patriot system can continue to defend service members, civilians and critical infrastructure worldwide as threats proliferate.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BA:
- RTX’s Pratt & Whitney Canada signs APS5000 maintenance agreement with Lufthansa
- Boeing, Leonardo collaborating to pursue U.S. Army Flight School Next contract
- Midday Fly By: Trump fuels rebound with softened China stance
- Trump Trade: U.S. to impose 100% additional tariff on Chinese goods
- Boeing, airline partners set new standard for parts authentication