Boston, MA 08/18/2014 (wallstreetpr) – The Boeing Company (NYSE:BA) received contract of $296 million for purchasing the parts to be used in the P-8 Spy Planes for the US Navy and Australian government. It is the second batch of the P-8 spy planes. With the new contract, Boeing will be able to buy the long-lead parts for the manufacturing of the P-8 aircrafts. They will be manufactured in Washington and Seattle, and will be completed by April 2018.
The details of manufacturing
The Boeing Company (NYSE:BA) will make 12 aircrafts that will be based in the future generation 737-800 platform. The eight aircrafts are meant for the US Navy and the rest four will be for the Australian government. Boeing also has a contract to manufacture and support 53 P-8As. It can benefit hugely in the near term as the US Navy can buy 117 aircrafts in total.
A change in the plans
The US Navy is set to change the P-3 spy planes that are operational from the last 40 tears. It will be replaced by the P-8A planes. It will have all the new and distinguishing features like surveillance, intelligence, anti-surface warfare, anti-submarine warfare and reconnaissance.
The Boeing Company (NYSE:BA) has completed the production of the first batch of the P-8 aircrafts. It received the contract worth $2.1 million to manufacture the first batch in February. The first batch was comprised of sixteen P-8A aircrafts for the US Navy. The Boeing Company (NYSE:BA) delivered the fifteenth aircraft on 5 August. It completed the successful detachments in the Indian Ocean regions and Western pacific regions with high mission completion rates.
The future ahead
The Boeing Company (NYSE:BA) has got a bright future going ahead. The orders for the aircraft are on the surge. The demand is rising for the aircrafts especially in the non-US markets. It will allow The Boeing Company (NYSE:BA) to expand its services into other geographical locations.
