Boeing Soars on $20 Billion Fighter Jet Contract Win

Boeing's shares jumped by 3% in early Wednesday trading after the company was awarded a major contract to develop its next-generation F/A-XX carrier fighter, valued at over $20 billion. The US Navy selected Boeing for the program, which covers full-scale development and includes test aircraft for evaluating the jet's systems, weapons, and flight performance.

The award is a significant win for Boeing, as it adds to its portfolio of defense programs. The company beat out Northrop Grumman for the contract, while Lockheed Martin was eliminated from the competition in 2025.

The F/A-XX is planned as a sixth-generation fighter for carrier operations and is expected to enter service during the 2030s, replacing the Navy's F/A-18E/F Super Hornet. The aircraft will operate alongside unmanned systems and provide longer-range capabilities.