Boeing and Lockheed Martin team for Next Generation Bomber program

The Boeing Company [NYSE: BA] and Lockheed Martin [NYSE: LMT] today announced they will team to perform studies and system development efforts including collaborative research and development in pursuit of the anticipated U.S. Air Force Next Generation Bomber program.

This collaborative effort for a long-range strike program will include work in advanced sensors and future electronic warfare solutions including advancements in network enabled battle management, command and control, and virtual warfare simulation and experimentation.

"Boeing and Lockheed Martin are working closely at all levels to capture the best of industry to develop and provide an effective and affordable solution for the warfighter," said Darryl Davis, president of Boeing Advanced Systems. "The work performed by the Boeing/Lockheed Martin team is designed to help the Air Force establish capability-based roadmaps for technology maturation and date certain timelines for the Next Generation Bomber program."

Boeing and Lockheed Martin have formed teams for several high profile programs including the F-22 Raptor and Small Diameter Bomb Increment II.

"The combined technical strengths of Boeing and Lockheed Martin offer the best possible team to provide a new long range capability to the USAF by 2018," stated Frank Cappuccio, Lockheed Martin's executive vice president and general manager Advanced Development Programs (the Skunk Works®) and Strategic Planning.

Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2007 sales of $41.9 billion.

A unit of The Boeing Company, Boeing Integrated Defense Systems is one of the world's largest space and defense businesses specializing in innovative and capabilities-driven customer solutions. Headquartered in St. Louis, Boeing Integrated Defense Systems is a $32.4 billion business with 72,000 employees worldwide.