"Boeing and the Paramount Group… have expanded their 2014 agreement to cooperate on an advanced mission system for a variant of the Advanced, High Performance, Reconnaissance, Light Aircraft (AHRLAC)," the release stated.
A high-wing two-seat aircraft, AHRLAC is designed to incorporate advanced intelligence, surveillance and reconnaissance capabilities and weapons systems, the release explained.
"Our relationship with Paramount will help us access markets that are new to Boeing," Boeing Military Aircraft Vice President for Business Development Jeffrey Johnson said in the release.
Boeing will develop an integrated mission system for the aircraft enabling intelligence, surveillance and reconnaissance as well as light strike missions for the AHRLAC safety and security, and military variants.
The militarized version will be known as "MWARI," the release added.