Boeing Lands $27.4 Million Worth of Helicopter and Drone Contracts

The Department of Defense awarded Boeing (NYSE: BA  ) and its subsidiaries two separate contracts on Wednesday worth $27.4 million.

Of the two, the smaller contract for $7.8 million went to Boeing's unmanned aerial vehicle subsidiary, Insitu. This contract extends Boeing's obligation to provide the Navy with operational and maintenance services in support of ScanEagle UAVs, including the capture of electro-optical/infrared and mid-wave infrared imagery, through March 2014.

The larger contract, for $19.6 million, modifies Boeing's previously awarded firm-fixed-price foreign military sales contract for the procurement of Apache Block III AH-64D attack helicopters for Taiwan. According to the DOD announcement, this contract win brings the total cumulative face value of Boeing's underlying contract to $624.5 million.

More Expert Advice from The Motley Fool

The Motley Fool's chief investment officer has selected his No. 1 stock for the next year. Find out which stock in our brand-new free report: "The Motley Fool's Top Stock for 2013." I invite you to take a copy, free for a limited time. Just click here to access the report and find out the name of this under-the-radar company.