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Boeing (BA) Wins $581M Delivery Deal for 14 Chinook H-47
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The Boeing Company (BA - Free Report) recently clinched a $580.6-million modification contract to provide 14 H-47 extended range rotary-wing aircraft to the United Kingdom.
The contract was awarded by the U.S. Special Operations Command, Tampa, FL. Majority of the work related to the deal will be executed in Ridley Park, PA. The entire task is expected to be completed by July 2026.
CH-47 Chinook’s Place in Defense
In recent times, military rotorcrafts like the Chinook are being used as part of the comprehensive mission parameters, thanks to the integration of advanced and multiple capabilities instilled in them. Not only the U.S. Army, but this heavy-lift helicopter is also being deployed by major militaries across the globe, courtesy of its combat-proven expertise to perform complex and tactical missions, which include air transportation of troops, weapons, and internal and external cargo. Its growth on a global scale is evident as militaries of nations such as the United Kingdom, The Netherlands, Spain, Australia, Japan, South Korea, the United Arab Emirates and others use this multi-mission aircraft.
The latest modernization initiative for this program, known as Chinook Block II, improves readiness for the U.S. Army and Special Operations warfighters. It also limits future sustainment costs. With these new capabilities, Boeing is ensuring that the iconic H-47 remains the most reliable, capable and ready medium-to-heavy-lift helicopter till the 2060s and beyond.
The fact that more than 950 Chinooks are currently in service in 20 countries surely reflects that the latest configurations have boosted the demand for this helicopter, with the aforementioned contract being a bright example of the same.
What Are the Growth Prospects?
Per a report by the Mordor Intelligence firm, the global military rotorcraft market is expected to witness a CAGR of 3% during the 2020-2025 period. Substantial fleet modernization plans of the militaries deploying H-47 Chinook along with other new and advanced attack helicopters are anticipated to support the growth of the market, during the forecasted period.
Such projections bode well for helicopter-makers such as Airbus SE (EADSY - Free Report) , Lockheed Martin (LMT - Free Report) and Textron (TXT - Free Report) , alongside Boeing.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
Boeing (BA) Wins $581M Delivery Deal for 14 Chinook H-47
The Boeing Company (BA - Free Report) recently clinched a $580.6-million modification contract to provide 14 H-47 extended range rotary-wing aircraft to the United Kingdom.
The contract was awarded by the U.S. Special Operations Command, Tampa, FL. Majority of the work related to the deal will be executed in Ridley Park, PA. The entire task is expected to be completed by July 2026.
CH-47 Chinook’s Place in Defense
In recent times, military rotorcrafts like the Chinook are being used as part of the comprehensive mission parameters, thanks to the integration of advanced and multiple capabilities instilled in them. Not only the U.S. Army, but this heavy-lift helicopter is also being deployed by major militaries across the globe, courtesy of its combat-proven expertise to perform complex and tactical missions, which include air transportation of troops, weapons, and internal and external cargo. Its growth on a global scale is evident as militaries of nations such as the United Kingdom, The Netherlands, Spain, Australia, Japan, South Korea, the United Arab Emirates and others use this multi-mission aircraft.
The latest modernization initiative for this program, known as Chinook Block II, improves readiness for the U.S. Army and Special Operations warfighters. It also limits future sustainment costs. With these new capabilities, Boeing is ensuring that the iconic H-47 remains the most reliable, capable and ready medium-to-heavy-lift helicopter till the 2060s and beyond.
The fact that more than 950 Chinooks are currently in service in 20 countries surely reflects that the latest configurations have boosted the demand for this helicopter, with the aforementioned contract being a bright example of the same.
What Are the Growth Prospects?
Per a report by the Mordor Intelligence firm, the global military rotorcraft market is expected to witness a CAGR of 3% during the 2020-2025 period. Substantial fleet modernization plans of the militaries deploying H-47 Chinook along with other new and advanced attack helicopters are anticipated to support the growth of the market, during the forecasted period.
Such projections bode well for helicopter-makers such as Airbus SE (EADSY - Free Report) , Lockheed Martin (LMT - Free Report) and Textron (TXT - Free Report) , alongside Boeing.
Price Movement and Zacks Rank
Shares of Boeing, a Zacks Rank #3 (Hold) company, have gained 27.7% in the past year compared with the industry’s growth of 19.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>