Boeing Secures Navy Contract to Upgrade the EA-18G Growler Jet

The Boeing Company BA has been awarded a $53.1 million contract for the production and delivery of 30 Next Generation Electronic Attack Unit (NGEAU) B-Kits and 22 NGEAU B-Kit Spares to support the EA-18G Growler Block II phase 1 upgrade. The award has been provided by the Naval Air Systems Command, Patuxent River, MD.The work related to this deal will be executed in Minneapolis, MN; Linthicum, MD; and St. Louis, MO. The contract is expected to be completed by December 2028.Importance of BA’s EA-18G GrowlerBoeing’s EA-18G Growler is one of the most advanced electronic attack aircraft. Equipped with cutting-edge jamming systems and advanced sensors, it excels at disrupting enemy radar and communications. The Growler is also capable of securely connecting and sharing information across various domains, including air, land, sea, space and cyber, making it a critical asset in modern warfare.Such notable features of the EA-18G Growler are likely to have boosted its demand, which is further evident from the latest contract win.Growth Prospects for BARising military conflicts, terrorism and border disputes, along with rapid technological advancements in combat jets, have led nations to increase their defense spending on combat-proven jets, which constitute an integral part of their defense structure.This is likely to have prompted the Mordor Intelligence firm to forecast a compound annual growth rate of 3.7% for the global fighter aircraft market during the 2025-2030 time period.Such strong market prospects offer solid growth opportunities for Boeing, a prominent jet manufacturer. Notably, its portfolio includes combat-proven jets like the F/A- Super Hornet, F-15EX and T-7A Red Hawk, in addition to the EA-18G Growler.Opportunities for BA’s PeersOther aerospace companies that are likely to benefit from the expanding global fighter aircraft market are discussed below.Northrop Grumman Corporation NOC: It is a leading provider of manned and unmanned air systems. NOC builds some of the world’s most advanced aircraft, like the E-2C Hawkeye 2000, A-10 Thunderbolt II, F-5 Tiger Fighter Jet and many more.Northrop has a long-term (three to five years) earnings growth rate of 3.3%. The Zacks Consensus Estimate for NOC’s 2025 sales indicates year-over-year growth of 2.8%.Embraer ERJ: The company offers a comprehensive portfolio of some of the most advanced aircraft in the combat market, which includes the A-29 Super Tucano light attack and advanced trainer and the C-390 Millennium military multi-mission aircraft.The company boasts a trailing four-quarter average earnings surprise of 150.60%. The Zacks Consensus Estimate for ERJ’s 2025 sales indicates year-over-year growth of 15.9%.Lockheed Martin Corporation LMT: It is the manufacturer of some of the most advanced military jets in the world. LMT’s key jet programs include the F-35 Lightning II, F-22 Raptor, F-16 Fighting Falcon and C-130 Hercules.Lockheed Martin has a long-term earnings growth rate of 10.5%. The Zacks Consensus Estimate for LMT’s 2025 sales indicates year-over-year growth of 4.7%.BA Stock’s Price MovementShares of BA have gained 18.4% in the past year compared with the industry’s 15.7% growth.Image Source: Zacks Investment ResearchBA’s Zacks RankBA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report Embraer-Empresa Brasileira de Aeronautica (ERJ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks