Boeing Wins $854.7M US Navy Contract to Deliver Four P-8A Aircraft by 2030
BA•Boeing secured an $854.67 million contract modification to produce and deliver four P-8A Lot 13 maritime surveillance aircraft with supply chain, software integration and hardware upgrades for US Navy and foreign military sale clients, completion targeted by September 2030. Shares edged up 0.1% in after-hours trading.
1. Contract Scope and Purpose
Boeing Co secured an $854.67 million contract modification for P-8A Lot 13 production, covering the build and delivery of four maritime patrol aircraft. The work includes enhanced supply chain management, software integration and hardware upgrades tailored to US Navy requirements and allied customer needs.
2. Production Timeline and Funding
The modification extends through September 2030, incorporating new engineering efforts to mitigate supply chain challenges and advance software capabilities. Funding is provided by both US Navy procurement budgets and foreign military sales programs, reinforcing a stable defense production pipeline.
3. Market Reaction
Boeing shares rose 0.1% in after-hours trading following the contract announcement, indicating cautious investor optimism. The deal boosts Boeing’s defense backlog, potentially offsetting ongoing commercial aviation pressures.
