Boeing CEO says F-47 and F/A-XX awards lift defense growth and investment outlook – Defence Industry Europe

Boeing CEO says F-47 and F/A-XX awards lift defense growth and investment outlook  Defence Industry Europe

Boeing expects stronger growth in its defense business following its selection for the U.S. Air Force’s F-47 and the U.S. Navy’s F/A-XX fighter programs, Chief Executive Kelly Ortberg said. Boeing expects stronger growth in its defense business following its selection for the U.S. Air Force’s F-47 and the U.S. Navy’s F/A-XX fighter programs, Chief Executive Kelly Ortberg said. The company is budgeting additional investment for the Navy aircraft while placing greater emphasis on contract terms after difficulties with earlier development programs. Speaking on Boeing’s third-quarter earnings call, Ortberg described the F/A-XX selection as a decision that would shape the company for decades. He said the two awards made Boeing the exclusive sixth-generation fighter company for the Air Force and Navy.

“Last month, we achieved a transformational win that will shape the company for decades to come when the U.S. Navy selected Boeing as the winner of the F/A-XX competition,” Ortberg said. He called the selection a responsibility Boeing took seriously in supporting U.S. national security priorities. Chief Financial Officer Jay Malave said the Navy had selected Boeing to design, build and deliver F/A-XX. However, the order was excluded from the company’s third-quarter backlog pending completion of the source selection and evaluation process. Neither executive disclosed the Navy program’s contract value, aircraft quantity or delivery schedule. Ortberg also declined to specify