Boeing Co. (BA) won a $12.4 million contract from the U.S. Navy to repair various components of the F/A-18 Super Hornet fighter jet. The work will be performed in Lemoore, California, Cecil Field, Florida and Philadelphia. The company expects to finish the work by Dec 31, 2010.
 
Boeing’s F/A-18 Super Hornet fighter jet was built in 1998 by a team including Northrop Grumman Corp. (NOC), General Electric Co. (GE) and Raytheon Co. (RTN). The jet is being actively considered for induction by air forces of Brazil and India. Already the fighter is being used by air forces around the globe like Australia, Finland and Kuwait.
 
Headquartered in Chicago, Boeing is the world’s largest manufacturer of commercial jet liners and military aerospace products (based on total sales). Boeing designs and produces commercial airplanes, defense systems, and civil and defense space systems. It is also the largest NASA contractor. Non-airplane products include helicopters, electronic and defense systems, missiles, satellites, rocket engines, launch vehicles, and advanced information and communication systems.
 
Boeing is among the best-positioned companies among its defense peers due to its balanced exposure to commercial aircraft and defense equipment. Going forward, we believe the $320 billion order backlog, strong order booking, stable cash flow generation and a globally diversified customer base will help maintain the growth momentum. However, a bearish commercial aerospace market, apprehension over growth in defense spending, and delays in the launch of the 787 series jetliner will affect its performance in the near term.
Read the full analyst report on “BA”
Read the full analyst report on “NOC”
Read the full analyst report on “GE”
Read the full analyst report on “RTN”
Zacks Investment Research