DOD to Announce Winner of KC-X Contract Later Today

The Department of Defense has scheduled a briefing at 5:10 p.m. EST at the Pentagon to announce the winner of the KC-X tanker contract, according to its website.

Chicago-based Boeing and European Aeronautic Defence and Space Company N.V. (EADS) are vying for the contract to replace the Air Force's aging fleet of aerial-refueling tankers. The two aerospace giants say their final proposals contained aggressive bids to win the $35 billion contract.

Boeing is proposing to build a fleet of its "NewGen" 767s, while EADS is proposing to build a fleet of A330-based KC-45s.