Boeing Lands $20 Billion Navy Fighter Contract Despite Tepid Market Response
The U.S. Navy has awarded Boeing a $20 billion contract to develop its next-generation carrier-based fighter, the F/A-XX.
This deal comes after the Air Force chose Boeing for the F-47 in 2025, and Boeing rose about 2% after hours on September 29, 2026, following the announcement. However, by the close on Wednesday, September 30, Boeing's stock price had dropped to $186.09, down 0.85%, while Northrop Grumman fell 4.2% to $483.42 in that session.
The contract for the F/A-XX is not a production contract but rather a development and test contract with a lifetime program value in the hundreds of billions of dollars.
According to Michael Duffey, Under Secretary at the time of the award, 'F/A-XX will dominate contested airspace, extend operational reach, and deliver decisive combat advantage.'
Northrop Grumman has acknowledged the decision but is waiting for details on why it lost. The company could still file a protest against the award.