The US Naval Air Systems Command has awarded Boeing a $4 billion contract for the procurement of 78 Super Hornet aircraft.

The contract for the The Block III configuration aircraft is a multi-year procurement (MYP) of 72 between fiscal years 2019-2021, and six from fiscal year 2018.

Navy officials estimate this multi-year model saves a minimum of $395 million on this contract valued at approximately $4 billion.

“This multi-year purchase is a great illustration of employing team effort to drive out cost and maximize efficiency in government procurement,” said Rear Adm. Shane Gahagan, Program Executive Officer for Tactical Aircraft Programs. “This acquisition strategy secures cost savings to the Navy, and the contract provisions limit Navy liability while incentivizing the cost to the contractor.”

“The program office was able to achieve significant savings while equipping our warfighters with the best capability on an accelerated timeline,” Gahagan said. “This is how we keep pace with our adversaries.”

There will also be opportunities in fiscal 2020 and fiscal 2021 to procure six more aircraft at the same reduced prices as those in MYP, via a variation in quantity.

Boeing’s F/A-18E/F Block III Super Hornet is the next step in the aircraft’s evolution. Equipped with an advanced cockpit system, advanced network infrastructure, reduced radar cross-section, conformal fuel tanks, and a 10,000-flight hour life span. It is the most lethal, interoperable, and sustainable Super Hornet model to date.