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THE BOEING COMPANY

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Boeing : U.S. Navy to Demo Future Ramjet Missile Technology

10/20/2020 | 03:05pm EST

ST. LOUIS, Oct. 20, 2020 - Boeing [NYSE: BA] and the U.S. Navy will demonstrate advanced missile technologies that will make carrier air wing strike fighters more lethal against threats into the next decade.

Boeing has been awarded a $30 million contract from the Navy to co-develop the Supersonic Propulsion Enabled Advanced Ramjet (SPEAR) flight demonstrator with the Navy's Air Warfare Center Weapons Division. The contract award comes after the Department of Defense requested information from the defense industry to help the Navy determine technical requirements of future carrier-based land and sea strike weapons systems.

'The SPEAR flight demonstrator will provide the F/A-18 Super Hornet and carrier strike group with significant improvements in range and survivability against advanced threat defensive systems,' said Steve Mercer, Boeing's SPEAR program manager. 'We have a talented team of engineers to meet the challenging technical demands and schedule timeline that the SPEAR program requires. We look forward to working with Navy experts to advance technologies for the Navy's future capabilities.'

Boeing and the Navy Air Warfare Center Weapons Division plan to fly the SPEAR demonstrator in late 2022. Prior successes by Boeing in developing supersonic and hypersonic technologies include the X-51 Waverider test vehicle in 2010 and the Variable Flow Ducted Rocket propulsion system under the Triple Target Terminator program in 2014.

Boeing is the world's largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As a top U.S. exporter, the company supports commercial and government customers in more than 150 countries. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

# # #

Contact:
Justin Gibson
Boeing Defense, Space & Security
Phone: +1 314-708-6293
justin.l.gibson@boeing.com

Disclaimer

The Boeing Company published this content on 20 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2020 19:04:08 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 59 100 M - -
Net income 2020 -4 085 M - -
Net Debt 2020 39 375 M - -
P/E ratio 2020 -30,5x
Yield 2020 0,46%
Capitalization 123 B 123 B -
EV / Sales 2020 2,74x
EV / Sales 2021 2,08x
Nbr of Employees 161 100
Free-Float 55,7%
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Average target price 212,05 $
Last Close Price 217,61 $
Spread / Highest target 40,6%
Spread / Average Target -2,56%
Spread / Lowest Target -42,6%
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NameTitle
David L. Calhoun President, Chief Executive Officer & Director
Lawrence W. Kellner Non-Executive Chairman
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO & Executive VP-Enterprise Operations
Theodore Colbert Executive Vice President
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