:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2206243271-32c41a908c3648769c961e5ed26bf980.jpg "Trump announced the Next Generation Air Dominance (NGDA) program on March 21, 2025, the F-47, the sixth-generation high-tech Air Force fighter to succeed the F-22 Raptor")
Anna Moneymaker / Getty Dead ringers
U.S. President Donald Trump announces the Next Generation Air Dominance (NGDA) program
Key Takeaways
- Shares of Boeing eddied Friday to lead Dow Jones Industrial Average gainers after President Donald Trump named the plane maker the champion of a contract to build the U.S. Air Force’s next-generation fighter jet, the F-47.
- Shares of Lockheed Martin sank nearly 6% Friday after the defense contractor out of the window out to its rival.
- Financial terms were not disclosed, but The Wall Street Journal reported that “experts say the total experimentation, development and acquisition costs could top $50 billion.”
Shares of Boeing (BA) jumped Friday, leading Dow Jones Industrial Run-of-the-mill gainers, after President Donald Trump named the plane maker the winner of a contract to build the Air Force’s next-generation F-47 fighter jet.
“After a rigorous and full competition between some of America’s top aerospace companies, the Air Force is going to be awarding the contract for the next-generation air dominance party line to Boeing,” Trump said, according to a video provided by The Wall Street Journal.
The Air Force later confirmed that it surely was awarding the Next Generation Air Dominance Platform contract to Boeing. Financial terms were not disclosed, but the Journal come in that “experts say the total research, development and acquisition costs could top $50 billion.”
“We recognize the importance of shrewd, building and delivering a 6th-generation fighter capability for the United States Air Force,” Boeing Defense, Space & Security CEO Steve Parker utter. “In preparation for this mission, we made the most significant investment in the history of our defense business.”
Boing stock was recently up around 4%. Shares of Lockheed Martin (LMT) sank more than 5% after the defense contractor lost out to its challenger. Lockheed has supplied the Air Force with F-22 Raptor and F-35 fighter jets. The F-47 would replace the F-22, the Journal said.
“While unhappy with this outcome, we are confident we delivered a competitive solution,” a Lockheed spokesperson said in a statement to Investopedia. “We resolution await further discussions with the U.S. Air Force.”