$2B Contract: Boeing Wins Massive Satellite Development Deal
Boeing has secured a significant $2 billion contract from the U.S. Department of War to develop and support two MUOS satellites under a long-term defense program. The fixed-price-incentive-firm-target contract will cover design, development, build, launch support, and on-orbit testing of the satellites.
The project is expected to run over the next decade, with work scheduled to be completed by September 30, 2035. Boeing will perform the work in El Segundo, California. The contract was a competitive acquisition, with two offers received.
This deal is part of ongoing efforts to enhance and extend the Mobile User Objective System (MUOS), which supports satellite communications infrastructure. Boeing's shares remained flat in after-hours trading on Tuesday, following a 1.87% decline during the regular session.