Boeing Secures $20B Navy Deal for Next-Gen Fighter Jet

The U.S. Navy has awarded Boeing a contract worth over $20 billion to develop the sixth-generation F/A-XX Strike Fighter under the Next Generation Air Dominance program.

The NGAD program could eventually be worth hundreds of billions of dollars over its lifetime as production scales up and international demand grows, according to Reuters.

This is Boeing's second major fighter-jet victory in a row, with the company beating Northrop Grumman for the contract.

In addition to this deal, Boeing has secured a $2.38 billion contract from the U.S. Department of War for 22 additional F-15EX aircraft for the U.S. Air Force.