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The Boeing Company (NYSE: BA) obtained a $4.2 billion federal contract to transport U.S. crews to and from the International Space Station with a goal of ending the nation's sole reliance on Russia in 2017.
Privately held Space Exploration Technologies Corp. obtained a similar, $2.6 billion contract for the same purpose from the National Aeronautics and Space Administration.
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The contracts include at least one test flight per company with at least one NASA astronaut aboard.
Once each company's test program has been completed, each contractor will conduct at least two, and as many as six, crewed missions to the space station.
Boeing will use its CST-100 spacecraft and SpaceX will rely on its Crew Dragon spacecraft.
Boeing posted revenue last year of $86.6 billion.
SpaceX was founded in 2002 by Tesla Motors Inc. (NASDAQ: TSLA) Chief Executive Elon Musk.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.