Boeing awarded US Navy $20 billion F/A‑XX fighter development contract
Boeing secured a contract from the U.S. Navy to develop the next‑generation F/A‑XX fighter, a sixth‑generation aircraft that will eventually replace the F/A‑18 fleet. The initial development phase is valued at more than $20 billion. Boeing won the award over Lockheed Martin and Northrop Grumman, following its earlier win of the Air Force F‑47 program. The Pentagon asked the competitors to adopt shared design standards for both the F‑47 and F/A‑XX projects.
Why it matters
Analysts say Boeing’s earnings from the program will depend on the contract’s pricing terms, given the company’s recent $20.5 billion loss on five fixed‑price projects. The contract could generate hundreds of billions of dollars over the aircraft’s production life, according to the materials.
Key facts
- 1The U.S. Navy awarded Boeing a contract worth more than $20 billion for the F/A‑XX development phase. ua.news
- 2Boeing beat Lockheed Martin and Northrop Grumman to win the contract. ua.news
- 3The F/A‑XX is intended to replace the Navy’s F/A‑18 fighters and EA‑18 Growlers in the mid‑2030s. hotair.com
- 4Boeing previously won the Air Force’s F‑47 NGAD contract, another $20 billion‑plus development program. middle-east-online.com
- 5The Pentagon required the three competitors to use common design standards for the F‑47 and F/A‑XX programs. middle-east-online.com
- 6Boeing has incurred $20.5 billion in losses on five fixed‑price development programs. middle-east-online.com
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.