Defense Spending

Boeing, Lockheed Team Up to Try To Land New Bomber Contract

Billions of dollars in defense spending at stake

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Boeing Co and Lockheed Martin Corp will team up to bid on a new U.S. Air Force long-range bomber program, a multibillion-dollar project that U.S. Air Force officials have described as a top acquisition priority.

Boeing, which has played a role in every U.S. bomber program since World War Two, would be the prime contractor on the next-generation bomber program, with Lockheed as its primary subcontractor, the companies said on Friday.

The Air Force has said it plans to buy as many as 100 new bombers for no more than $550 million each.