Boeing Lands Massive Navy Fighter Contract Valued at Over $20B

Boeing has won a major contract to design and build its F/A-XX sixth-generation fighter, which is valued at over $20 billion for the full-scale development phase. The U.S. Navy selected Boeing for the project, beating out Northrop Grumman.

JPMorgan analysts called the win 'truly important' for Boeing, saying the company has a lock on sixth-generation fighters. However, they noted that the more significant financial developments will come from Boeing's progress in increasing commercial aircraft production and improving cash flow per plane.

William Blair also maintained its 'Outperform' rating on Boeing, citing the recent contract wins as signs of improvement in the company's defense business.