The MOU will cover the development of advanced avionics. Boeing subsidiary AEL Sistemas is involved in the project.
"Boeing and its Tier 1 supplier-partners are committed to bringing key technologies to Brazil," Boeing Military Aircraft President Chris Chadwick said.
"Through the projects identified for AEL Sistemas, Boeing and Elbit support Brazil's objective of developing the aerospace capabilities of local industry for the sustainment of its current and future military aircraft fleet."
Chadwick said they were also focused on establishing long-lasting opportunities for Brazilian industry in the development and production of key technologies.
"The MOU outlines opportunities for AEL Sistemas to participate in the design, development, production and support of some Large Area Display software and hardware," Chadwick said.
The company said the knowledge and capabilities gained from the program will support Elbit and AEL Sistemas' efforts to establish an Advanced Cockpit Technology Center of Excellence in Brazil. That will allow AEL Sistemas to expand its advanced cockpit avionics market reach to other fixed-wing platforms, as well as rotorcraft.