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Trump Says Boeing Wins Contract for New Air Force Fighter Jets
Posted
March 21, 2025
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1:29Now PlayingBoeing Co. won a contract to design and build the US’s next-generation fighter jet, beating out rival Lockheed Martin Corp. for the multibillion dollar program.
President Donald Trump announced the decision Friday morning at the White House alongside Defense Secretary Pete Hegseth.
The new fighter jet, known as the F-47, “will ensure that the USA continues to dominate the skies,” Trump said. Boeing shares rose as much as 5.7% while Lockheed erased earlier gains to fall 4.3% as of 11:32 a.m. in New York.
The award caps more than two years of competition between the defense giants’ bids for the full-scale development phase of the Next Generation Air Dominance manned fighter, or NGAD. The jet, which will replace the F-22 Raptor, is envisioned to operate in tandem with drones, which are being developed in a separate program.
While little has been made public about the project, budget figures released last year showed the the Air Force plans to spend as much as $20 billion on NGAD research and development through 2029.
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