We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Boeing Awarded $600 Million Contract to Design Next Air Force One
Read MoreHide Full Article
On Wednesday, it was announced that aerospace and defense leader Boeing Co. (BA - Free Report) has won a $600 million contract to design the next Air Force One presidential aircraft.
The plan calls for Boeing to begin modifying two 747-8 jetliners, with designs including a mission communication system, electrical power upgrades, a full medical facility, a self-defense system, an executive interior, and autonomous ground operations capabilities.
The Air Force currently operates two military versions of the company’s 747-200B that serve as Air Force One, but both aircraft are coming to the end of their planned 30-year usage, notes Reuters.
Most notably, though, is Boeing’s commitment to President Trump’s demands to lower the cost of Air Force One. The company is working with a program called the Presidential Airlift Recapitalization to “investigate saving opportunities during preliminary design efforts," according to a news release.
Last December, the president memorably tweeted that costs for the new Air Force One were “out of control,” threatening to cancel the program.
Today’s announcement marks the second step in Boeing’s deal to make the next presidential aircraft; the first award was for the purchase of the planes.
Upcoming contracts are expected to be awarded next summer for engineering and manufacturing development on the new Air Force One.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Boeing Awarded $600 Million Contract to Design Next Air Force One
On Wednesday, it was announced that aerospace and defense leader Boeing Co. (BA - Free Report) has won a $600 million contract to design the next Air Force One presidential aircraft.
The plan calls for Boeing to begin modifying two 747-8 jetliners, with designs including a mission communication system, electrical power upgrades, a full medical facility, a self-defense system, an executive interior, and autonomous ground operations capabilities.
The Air Force currently operates two military versions of the company’s 747-200B that serve as Air Force One, but both aircraft are coming to the end of their planned 30-year usage, notes Reuters.
Most notably, though, is Boeing’s commitment to President Trump’s demands to lower the cost of Air Force One. The company is working with a program called the Presidential Airlift Recapitalization to “investigate saving opportunities during preliminary design efforts," according to a news release.
Last December, the president memorably tweeted that costs for the new Air Force One were “out of control,” threatening to cancel the program.
Today’s announcement marks the second step in Boeing’s deal to make the next presidential aircraft; the first award was for the purchase of the planes.
Upcoming contracts are expected to be awarded next summer for engineering and manufacturing development on the new Air Force One.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>