Reportedly, Boeing (BA) lost on a Pentagon contract to develop a new interceptor to protect the U.S. against intercontinental ballistic missile threats.
“Boeing is disappointed the U.S. Missile Defense Agency did not advance our team to the next phase of competition in the development of the Next Generation Interceptor competition,” the company said in a statement.
Lockheed Martin and Northrop Grumman succeeded the Next Generation Interceptor contract for technology development and risk reduction, marking the first major defense procurement finalized under President Biden. Northrop’s contract is worth $3.9 billion through May 2026, and Lockheed’s is worth $3.7 billion through August 2025. The two defense giants will later compete against each other for a future procurement contract.
Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space, and security systems. To learn more about Boeing (BA) and to track its ongoing progress please visit the Vista Partners Boeing (BA) Coverage Page.
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