Boeing Wins US Navy Stealth Fighter Contract, Valued at Billions

Boeing has secured a major contract to build the US Navy's next-generation stealth fighter. According to sources, the aerospace company beat out rival Northrop Grumman Corp for the development contract, worth $20 billion.

The program is crucial in countering China in the Pacific and could grow to hundreds of billions over its lifetime as production ramps up and international customers place orders.

This is Boeing's second consecutive major win on fighter jets, following their selection last year to build the Air Force's new stealthy F-47 fighter.