Israeli Aerospace Industries wins $240 million USAF contract

State-run Israel Aerospace Industries (IAI) said on Sunday it won a $240 million contract to manufacture wings for U.S. Air Force T-38 training aircraft.

IAI said it has been producing the wings for the T-38s since 2011 and that the work will be performed in Israel.

The work is expected to be completed by 2033, the U.S. Defense Department said in a separate statement. It added IAI was one of four bids it received.

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