Boeing Wins $20 Billion Contract for Next-Generation Stealth Fighter

Boeing has won the contract to build the US Navy's next-generation stealth fighter, the F/A-XX program. The $20 billion development contract was awarded after months of delays and funding disputes. Boeing beat out Northrop Grumman Corp in a competition that eliminated Lockheed Martin Corp earlier this year.

The new jet is expected to feature advanced stealth capabilities, improved range and endurance, and the ability to integrate with uncrewed combat aircraft and the Navy's carrier-based air defense systems. The contract is a significant boost for Boeing's fighter production operations in St. Louis, Missouri, which is shutting down the F/A-18E/F Super Hornet and EA-18G Growler production lines.

Boeing shares were up 2.25% in extended trading on Tuesday, while Northrop shares were down 3.5%. The Navy still plans to buy more than 270 Lockheed Martin F-35C jets for its carrier fleet, which will fly alongside the F/A-XX once it enters service.