Analysis: Air Force KC-X tanker contract journey

Friday - 2/25/2011, 4:45pm EST

Richard Aboulafia, Defense Analyst, Teal Group

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The Air Force has given Boeing a $35 billion contract to replace an aging fleet of mid-air refueling planes.

Boeing will build nearly 200 tankers. This is one of the biggest defense contracts ever.

And if you've been following the saga, you know it hasn't been an easy journey. It started in 2002. And some say it's not over.

Defense analyst Richard Aboulafia from the Teal Group offers a recap and a look ahead.