Boeing to accomplish US$ 3.2 billion U.K. military deal

Boeing to accomplish US$ 3.2 billion U.K. military deal

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According to U.S. government official reports, Boeing is set to complete a sale of military surveillance jets to U.K worth US$ 3.2 billion.

The United Kingdom was interested in purchasing P-8A jets for maritime patrols and submarine hunting, to make up for grounding of older jet fleet in 2010 and suspension of a program together with replacing British-made aircraft.

The deal is of high priority for Britain. After deal completion, United Kingdom has become the third overseas customer on the globe after Australia and India for a heavily modified version of the P-8A which is one of the best-selling 737 passenger jet.

The Pentagon’s Defense Security Cooperation Agency (DSCA) said, “The proposed sale will enhance Britain’s capabilities to provide national defense and contribute to NATO and coalition operations.”

According to analysts, an export market would expand for the jet manufacturer over the next decade. Around 100 planes would be sold globally. Export deals could help Boeing stretch production of the P-8. The aircraft include a host of sensors and the ability to deploy weapons such as torpedoes. As when it cites eroding demands for combat planes i.e. F-15, aircraft manufacturer is constantly relying upon a military version of its commercial jets. American Navy have a plan to buy 109-jet by the end of year 2022.

The U.S. State Department has reportedly given green light for the proposed deal – termed as government-to-government sale. However the press has not been informed about what sort of aircrafts might be on the card.

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I cover technology, utilities and biotechnology for Markets Morning, and I help out occasionally with other industry sectors. I've written about investment and personal finance topics for more than 20 years from a lowly copywriter to editor-in-chief, so I've done a little bit of everything. For what it's worth, I have a BA from Duke University and an MBA from Rollins College. I'm married with one daughter, and that's worth more than everything else put together.

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