Story
Boeing Secures $112 Million DoD Contract Modification for Saudi F-15 Training Program
Summary
The U.S. Department of Defense has awarded Boeing a $112.4 million contract modification to enhance its F-15 training program for Saudi Arabia, bringing the total contract value to over $256 million.
The Boeing Company (NYSE: BA) has been awarded a $112.4 million contract modification from the U.S. Department of Defense to upgrade and maintain a training program for the Royal Saudi Air Force. The award, announced Thursday, pertains to the F-15 Saudi Advanced Aircrew Training Device Phase II program.
Details of the Award
This firm-fixed-price modification increases the total cumulative value of the contract from $144.3 million to $256.7 million. The original contract was awarded to the aerospace and defense giant in 2017.
The contract is part of a Foreign Military Sale (FMS) to Saudi Arabia. According to the Pentagon, the full $112.4 million in foreign military funds was obligated at the time of the award, ensuring the project is fully funded.
AdProject Scope and Timeline
Work on the training systems will be performed at three locations in Saudi Arabia: King Faisal Air Base, King Khalid Air Base, and King Abdulaziz Air Base. The project has a scheduled completion date of Sept. 30, 2031.
The contract is managed by the Air Force Life Cycle Management Center, located at Wright-Patterson Air Force Base in Ohio. Such long-term service and upgrade contracts are a key source of stable revenue for Boeing's Defense, Space & Security (BDS) division, contributing to the company's extensive order backlog.
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