HomeInvesting NewsBoeing Lands $278M Contract to Boost F/A-18 Aircraft Production

Boeing Lands $278M Contract to Boost F/A-18 Aircraft Production

Published on

Boeing Company (NYSE:BA)

contract for the F/A 18 aircraft program was just won by the Boeing Company (NYSE:BA). The Defense Logistics Agency Aviation in Philadelphia, Pennsylvania, presented the medal.

This contract has a total estimated value of $278M and is expected to be finished by Aug 8, 2027. Boeing will buy supplies for the F/A-18 fighter planes as the agreement requires.

Value of F/A-18 Fighter Jets

The F/A-18 Block III Super Hornet is Boeing Company’s (NYSE:BA) latest generation of multirole fighter aircraft, and it is a twin-engine, supersonic, all-weather fighter jet. Boeing Company (NYSE:BA) claims the Super Hornet is the most cost-effective aircraft in the country’s tactical aviation fleet, costing less per flight hour than any other tactical aircraft in the United States inventory.

The F/A-18 Super Hornet fighter jet has become the standard issue aircraft for armed forces around the globe. In addition to the United States Navy, the Royal Australian Air Force and the Air Force of Kuwait operate many of these fighter planes.

The most recent contract win further evidenced strong demand in the aviation market for the F/A-18 fleet.

Potential for Expanding

Emerging countries in the Asia-Pacific, the Middle East, and South America are spending heavily to strengthen their defense capabilities in response to mounting security challenges. The defense industries of wealthy nations like the United States and Europe have long been ahead of the curve. As the world’s leading exporter of military hardware, the United States spends much on defense hardware, with combat aircraft taking pride in place among these products. The United States military aircraft market is dominated by Boeing Company (NYSE:BA), the country’s largest aircraft manufacturer.

Mordor Intelligence predicts that between 2021 and 2026, the global market for combat aircraft will grow at a CAGR of 2.5%, with the highest market share coming from North America. Increasing defense spending and a surge in international tensions are to blame for this expansion. Boeing Company (NYSE:BA) and other U.S.-based combat jet producers, including Northrop Grumman (NOC), Lockheed Martin (LMT), and Textron (TXT), stand to gain from these forecasts.

Featured Image – Megapixl ©  Stepheng101

See Disclaimer Please

Latest News

AT&T Stock is Going Up After a Few Bad Years

Nearing the end of a year-long change is AT&T stock. By eliminating its entertainment...

Which is Better: Bitcoin Stock or Ethereum Stock?

A cryptocurrency is a secure, virtual currency that is nearly impossible to counterfeit. Ethereum...

Nio (Nio Stock), BYD, and Other Chinese EV Manufacturers Expand Into Europe

Chinese buyers were won over by Nio (NYSE:NIO) and BYD (BYDDF) for their svelte,...

Facebook (META Stock) Claims To Have Removed A Chinese-Based Propaganda Effort Aimed Against The Midterm Elections In The United States

Before the November midterm elections, Meta Platforms Inc (NASDAQ:META) said on Tuesday that it...

More like this

QuantumScape Stock: Reasons for Today’s Spike

QuantumScape Stock (NYSE:QS) EV Battery company QuantumScape's stock price gained by 5% on Tuesday morning....

Roblox Stock (RBLX) Rises Despite Market Declines: Here’s What You Need to Know

Roblox stock (NYSE:RBLX) reached a price of $35.55 before calling it a day on...

Why Apple Stock Was Rising When the Market Opened This Morning

Apple Stock (NASDAQ:AAPL) Apple stock opened Tuesday's trading session up 2.6%, but the Apple stock...

Today’s 3% Rise in Coinbase Stock Is Just the Beginning.

Coinbase Stock (NASDAQ:COIN) Coinbase stock has risen by 3%, making it the best-performing cryptocurrency exchange...

Activision Stock (ATVI) Drops -0.83%: What You Should Know

The most recent trading session ended with Activision stock (NASDAQ:ATVI) reaching a price of...

TSLA Stock Is Expected to Break a Record With Q3 Deliveries

TSLA stock was trading at $279.06 as of 02:31 PM EDT. Tesla (NASDAQ:TSLA) is asking...