Boeing Secures $20 Billion Contract for Next-Gen Fighter Jet

Boeing has secured a major contract from the U.S. Department of War for the development of its next-generation F/A-XX Strike Fighter under the Next Generation Air Dominance (NGAD) program.

The $20 billion deal, announced on September 29, will see Boeing beat out Northrop Grumman in developing the sixth-generation fighter jet, with potential international demand and production scaling up expected to be worth hundreds of billions over its lifetime.

Shares in Boeing saw a boost following the announcement, rising around 0.8% since Monday and premarket trading on October 1 was approximately 0.5% higher.