The Department of Defense announced 24 new defense contracts Monday, with a combined value of $1.66 billion. One of these contracts went to Boeing (NYSE:BA), another to Textron (NYSE:TXT) -- and a third to Boeing and Textron, together.
- Boeing: Boeing's win, worth $6.8 million, consisted of a contract modification to supply the U.S. Navy with spare parts for eight Low Rate initial Production Lot IV P-8A Poseidon sub-hunting aircraft. The spare parts will be delivered between now and April 2017.
- Textron: Textron's solo-win was even bigger. For $23 million its AAI Corp drone-building subsidiary will perform "logistics support" for U.S. Army "One System Remote Video Terminals" in Afghanistan through Dec. 30, 2014.
- Boeing and Textron: Finally, the Bell Boeing Joint Project Office, a joint venture between Textron and Boeing to build V-22 Osprey tiltrotor aircraft for the military, was awarded a $9 million option exercise to supply the U.S. Navy with two V-22 Block A to B 50-69 series upgrade kits for the Osprey. Delivery on this one is due November 2015.