Pentagon awards Boeing $20 billion to develop Navy’s next‑generation F/A‑XX strike fighter
The U.S. Department of Defense announced on Tuesday that Boeing won a contract worth $20 billion to design and build the F/A‑XX strike‑fighter for the Navy, replacing the Super Hornet fleet. Boeing’s defense president Steve Parker said the company can develop multiple fighter variants in parallel, while Deputy Secretary of Defense Michael Duffey called the program a critical investment in national security. Northrop Grumman, the runner‑up, will await further details after the selection.
Why it matters
The award secures a multi‑year revenue stream for Boeing and is likely to boost its share price, as reflected by a 2.4% after‑hours rise. Conversely, Northrop Grumman’s shares fell 3.6% after the decision, indicating market disappointment. The contract also positions the Navy to field a new fighter from the mid‑2030s, affecting future defense spending and supplier competition.
Key facts
- 1The Pentagon selected Boeing for a $20 billion contract to develop the F/A‑XX strike fighter for the U.S. Navy. jordannews.jo
- 2The contract was announced on Tuesday, 30 September 2026. jordannews.jo
- 3Steve Parker, president of Boeing’s defense, space and security division, said Boeing is prepared to develop multiple fighter variants simultaneously. jordannews.jo
- 4Deputy Secretary of Defense Michael Duffey described the F/A‑XX project as a critical investment in U.S. national security. jordannews.jo
- 5Boeing shares rose 2.4% in after‑hours trading following the announcement. jordannews.jo
- 6Northrop Grumman shares fell 3.6% after the decision. jordannews.jo
Open questions
- Material 1 says the new aircraft will replace the Super Hornet fleet “beginning early next decade,” while material 2 states replacement will start in the “mid‑2030s.”
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.