Boeing Co. (NYSE:BA) announced that it has secured multiyear contracts worth about $2.7 billion to produce additional Patriot Advanced Capability-3 (PAC-3) seekers. Under the contracts, Boeing will supply over 3,000 seekers at rates reaching up to 750 units per year through 2030.
Boeing is collaborating with prime contractor Lockheed Martin (NYSE:LMT) and the U.S. Army to boost production and meet new targets for the PAC-3 interceptor. Expanding seeker output is essential to sustaining the Patriot system’s ability to defend service members, civilians and critical infrastructure worldwide amid growing threats.
Boeing-built PAC-3 seekers help Patriot interceptors detect and defeat advanced threats such as hypersonic weapons, aircraft, and ballistic and cruise missiles. Demand has surged amid conflicts and rising tensions in Ukraine, the Middle East and the Indo-Pacific.
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In 2025, the company achieved new monthly and 12-month rolling production records and aims to deliver a record 650 to 700 seekers by year-end. Boeing said years of internal investment, production line modernization, stronger supplier partnerships, and a new 35,000-square-foot factory expansion have enhanced its production capacity.
Boeing has delivered more than 6,000 PAC-3 seekers to the U.S. Army since 2000, as a subcontractor to Lockheed Martin from its Huntsville, Alabama, facilities. The PAC-3 interceptor is used by 17 countries, including the United States, to defend people and critical infrastructure worldwide.
Quarter Financial Performance
In July, the company reported a second-quarter loss of $1.24 per share, missing analysts’ estimates for a loss of 94 cents per share. The result, however, marks an improvement from a loss of $2.90 per share in the same period a year earlier. Quarter sales rose 34.9% year over year to $22.75 billion, exceeding the consensus estimate of $20.20 billion.
Price Action: BA shares were trading lower by 0.23% to $215.07 at last check Tuesday.
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