U.S. Navy awards Boeing a $20 billion next‑generation fighter contract over Northrop Grumman
The Navy selected Boeing to develop the carrier‑based F/A‑XX fighter, a contract valued at more than $20 billion. The award was announced on September 29 2026, beating Northrop Grumman, which had been the only other bidder. Boeing’s shares rose about 2% after hours before closing down 0.85% on September 30, while Northrop’s stock fell 4.2%.
Why it matters
The contract adds a major program to Boeing’s defense portfolio, potentially driving future revenue despite a $15 million Q2 loss in its Defense, Space & Security segment. Northrop’s loss of the bid may pressure its stock, as the company’s backlog remains strong but the missed opportunity could affect its defense earnings outlook.
Key facts
- 1The Navy awarded Boeing a contract worth more than $20 billion for full‑scale development of the F/A‑XX fighter. gurufocus.com
- 2The award was announced on September 29 2026. 247wallst.com
- 3Boeing’s shares rose about 2% after hours on September 30 before closing down 0.85% at $186.09. 247wallst.com
- 4Northrop Grumman’s shares fell 4.2% to $483.42 on the same day. 247wallst.com
- 5Boeing’s Defense, Space & Security segment posted a Q2 operating loss of $15 million on $7.48 billion of revenue. 247wallst.com
- 6Northrop’s second‑quarter backlog reached a record $104.69 billion. 247wallst.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.