Boeing secures $2.8B contract to develop ESS satellites, benefiting from growing space market.

Boeing secures a $2.84 billion contract to develop four ESS satellites by December 2033 for Space Systems Command, boosting its presence in defense space tech. The work will be done in El Segundo, CA, under the Evolved Strategic Satellite program.

The global space launch vehicles market is expected to grow at a CAGR of 18.4% from 2025-2030, benefiting companies like Boeing, Northrop Grumman, Rocket Lab, and Lockheed Martin. Boeing’s CST-100 Starliner spacecraft and ESS satellites will provide strategic coverage for warfighters worldwide.

Boeing’s stock has risen 27.3% in the past six months, outperforming the industry. The company currently holds a Zacks Rank #3 (Hold).

Read more at Zacks Investment Research: Boeing Secures a $2.8B Contract to Aid the Evolved Strategic Satellite – July 8, 2025