Boeing Co (NYSE:BA) has secured a $2.38 billion contract to build 15 additional KC-46A Pegasus tankers under the Lot 11 contract with the U.S. Air Force.

This latest award brings Boeing's global contract to 168 KC-46A refuelers, a multi-mission aerial tanker designed to support advanced joint force capabilities.

The KC-46A has proven its operational value, having flown over 100,000 hours and offloading more than 200 million pounds of fuel worldwide.

Also Read: Qualcomm Targets $900 Billion Market by 2030: Big Bets on IoT and Automotive

It made its first full-scale deployment in October after being approved for global combat operations in 2022.

This contract builds on the July agreement, which focused on upgrading the KC-46A's mission readiness and operational performance. Enhancements include advanced communication systems, improved data connectivity, and situational awareness, further strengthening survivability in contested environments. These upgrades complement the 2023 Block 1 improvements.

Since 2019, Boeing has delivered 89 Pegasus tankers to the U.S. Air Force and four to Japan's Air Self-Defense Force. The KC-46A program continues to expand its reach, solidifying its role as a critical asset for U.S. and allied forces.

Boeing reported a 1% revenue decline to $17.85 billion in the third quarter of 2024, missing the analyst consensus of $17.93 billion. The adjusted operating loss of $5.99 billion, compared to $1.09 billion a year ago.

Last week, Boeing plans to fire over 2,500 employees in Washington, Oregon, South Carolina, and Missouri. This reduction is part of a larger effort to cut 17,000 jobs, representing 10% of the company's global workforce.

In October, Boeing announced plans to raise $21 billion by selling 112.5 million shares at $143.00 each and $5 billion in depositary shares.

Price Action: BA stock is down 0.08% at $143.30 premarket at the last check Friday.

Also Read:

• STMicroelectronics Targets $20 Billion Revenue By 2030, Unveils 2027 Goals

Image via Shutterstock