Boeing has secured a contract valued at up to $2.8bn for upgrades to the F-15 aircraft operated by the Republic of Korea.

This contract focuses on enhancing the capabilities of the F-15K aircraft for the Republic of Korea Air Force and Defense Acquisition Program Administration, through the design and integration of advanced systems.

The contracting activity is the Air Force Life Cycle Management Center at Wright-Patterson Air Force Base in Ohio.

The project is part of a Foreign Military Sales agreement with South Korea, involving a budget allocation of $540m at the commencement of the contract.

It is expected to complete by the end of 2037, with all work being carried out at Boeing's facility in St. Louis.

The agreement between Boeing and the Republic of Korea marks a sole-source acquisition.

Recently, Boeing’s Defence, Space & Security division reported revenue of $7.4bn in the fourth quarter (Q4) of 2025, marking a 37% increase from $5.4bn in the same period last year.

The unit recorded an operational loss of $507m for the reported quarter ended 31 December 2025, an improvement compared to a $2.27bn loss in the previous year’s fourth quarter.

Operating margin reached -6.8%, up from -41.9%, which the company attributed to stabilising operations and increased output.

Boeing received a contract worth $8.6bn in December 2025 for the supply of F-15 IA aircraft for the Israeli Air Force. The agreement covers the production and delivery of 25 F-15IA aircraft, with an option for an additional 25 units.

Work on this project will take place at St. Louis, Missouri, with a scheduled completion date of 31 December 2035.