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Boeing Secures an Order for F/A-18 E/F Jet's Windshield Spares
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The Boeing Company (BA - Free Report) recently secured a $29.5 million contract for the procurement of black III spare windshield panels for the F/A-18 E/F fighter jets. The award was offered by the Naval Supply Systems Command in Philadelphia, PA.
The work, which will be performed in St. Louis, MO, is expected to be finished by December 2029.
Significance of BA’s F/A-18 Jets
Boeing engages in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for strike, surveillance and mobility, including fighter and trainer aircraft, vertical lift, including rotorcraft and tilt-rotor aircraft, and commercial derivative aircraft, including anti-submarine and tanker aircraft.
Boeing's F/A-18 Super Hornet is particularly noteworthy as it can perform nearly every mission within the tactical spectrum. These missions include air superiority, day/night precision strikes, fighter escorts, close air support, suppression of enemy air defenses, maritime strikes, reconnaissance, forward air control and tanker missions.
The latest model of this jet, Block III, currently being used by the U.S. military, is the most networked and survivable F/A-18 built. Boeing delivered the first of 78 contracted Block III F/A-18 Super Hornets to the U.S. Navy in August 2021.
BA’s Growth Prospects
Amid the volatile global landscape, the demand for military aircraft has been surging significantly. With more nations focusing on increasing their aerial supremacy, coupled with the emergence of modern-day jets that come with more sophisticated technologies like enhanced stealth, precision targeting and electronic warfare capabilities, the global fighter aircraft market’s growth opportunities remain immense.
This is likely to have led Mordor Intelligence to predict that the global fighter aircraft market will witness a CAGR of 3.7% during the 2024-2029 period.
These projections indicate significant growth opportunities for leading combat jet manufacturers like Boeing. The company’s military jet portfolio includes combat-proven aircraft, such as the F-15, P-8, T-7A Red Hawk, E/A-18G and C-17 Globemaster III, in addition to the F/A-18 jets.
Opportunities for Boeing’s Peers
Lockheed Martin Corporation (LMT - Free Report) : It is the producer of some of the most advanced military jets in the world. Its key jet programs include the F-35 Lightning II, F-22 Raptor, F-16 Fighting Falcon and C-130 Hercules.
Lockheed has a long-term (three to five years) earnings growth rate of 4.7%. The Zacks Consensus Estimate for 2024 sales indicates year-over-year growth of 5.3%.
Northrop Grumman Corporation (NOC - Free Report) : It is a leading provider of proven manned and unmanned air systems. It builds some of the world’s most advanced aircraft like the B-2 Spirit Stealth Bomber, A-10 Thunderbolt II and B-21 Raider.
Northrop Grumman has a long-term earnings growth rate of 8.7%. The consensus estimate for 2024 sales indicates year-over-year growth of 5.4%.
Embraer (ERJ - Free Report) : It is a prominent combat aircraft manufacturer. The company’s product portfolio includes the A-29 Super Tucano light attack and advanced trainer and the C-390 Millennium military multi-mission aircraft.
The Zacks Consensus Estimate for ERJ’s 2024 sales indicates year-over-year growth of 19.1%. The consensus estimate for 2024 earnings per share indicates year-over-year growth of 262.8%.
BA Stock’s Price Performance
In the past three months, shares of Boeing have lost 12.4% against the industry’s 5% growth.
Image: Bigstock
Boeing Secures an Order for F/A-18 E/F Jet's Windshield Spares
The Boeing Company (BA - Free Report) recently secured a $29.5 million contract for the procurement of black III spare windshield panels for the F/A-18 E/F fighter jets. The award was offered by the Naval Supply Systems Command in Philadelphia, PA.
The work, which will be performed in St. Louis, MO, is expected to be finished by December 2029.
Significance of BA’s F/A-18 Jets
Boeing engages in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for strike, surveillance and mobility, including fighter and trainer aircraft, vertical lift, including rotorcraft and tilt-rotor aircraft, and commercial derivative aircraft, including anti-submarine and tanker aircraft.
Boeing's F/A-18 Super Hornet is particularly noteworthy as it can perform nearly every mission within the tactical spectrum. These missions include air superiority, day/night precision strikes, fighter escorts, close air support, suppression of enemy air defenses, maritime strikes, reconnaissance, forward air control and tanker missions.
The latest model of this jet, Block III, currently being used by the U.S. military, is the most networked and survivable F/A-18 built. Boeing delivered the first of 78 contracted Block III F/A-18 Super Hornets to the U.S. Navy in August 2021.
BA’s Growth Prospects
Amid the volatile global landscape, the demand for military aircraft has been surging significantly. With more nations focusing on increasing their aerial supremacy, coupled with the emergence of modern-day jets that come with more sophisticated technologies like enhanced stealth, precision targeting and electronic warfare capabilities, the global fighter aircraft market’s growth opportunities remain immense.
This is likely to have led Mordor Intelligence to predict that the global fighter aircraft market will witness a CAGR of 3.7% during the 2024-2029 period.
These projections indicate significant growth opportunities for leading combat jet manufacturers like Boeing. The company’s military jet portfolio includes combat-proven aircraft, such as the F-15, P-8, T-7A Red Hawk, E/A-18G and C-17 Globemaster III, in addition to the F/A-18 jets.
Opportunities for Boeing’s Peers
Lockheed Martin Corporation (LMT - Free Report) : It is the producer of some of the most advanced military jets in the world. Its key jet programs include the F-35 Lightning II, F-22 Raptor, F-16 Fighting Falcon and C-130 Hercules.
Lockheed has a long-term (three to five years) earnings growth rate of 4.7%. The Zacks Consensus Estimate for 2024 sales indicates year-over-year growth of 5.3%.
Northrop Grumman Corporation (NOC - Free Report) : It is a leading provider of proven manned and unmanned air systems. It builds some of the world’s most advanced aircraft like the B-2 Spirit Stealth Bomber, A-10 Thunderbolt II and B-21 Raider.
Northrop Grumman has a long-term earnings growth rate of 8.7%. The consensus estimate for 2024 sales indicates year-over-year growth of 5.4%.
Embraer (ERJ - Free Report) : It is a prominent combat aircraft manufacturer. The company’s product portfolio includes the A-29 Super Tucano light attack and advanced trainer and the C-390 Millennium military multi-mission aircraft.
The Zacks Consensus Estimate for ERJ’s 2024 sales indicates year-over-year growth of 19.1%. The consensus estimate for 2024 earnings per share indicates year-over-year growth of 262.8%.
BA Stock’s Price Performance
In the past three months, shares of Boeing have lost 12.4% against the industry’s 5% growth.
Image Source: Zacks Investment Research
BA’s Zacks Rank
Boeing currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.