Trump awards Boeing contract to build next-generation US fighter jet

The decision is a significant boost for Boeing, which has faced struggles in both its commercial and defense divisions. Following the news, Boeing’s stock surged 4%, while Lockheed Martin, which lost the bid, saw its shares drop nearly 7%, news agency Reuters reported.

The F-47 is expected to feature cutting-edge stealth, advanced sensors, and enhanced range compared to the F-22. Air Force Chief of Staff Gen.

The contract win comes as Boeing works to recover from recent setbacks, including cost overruns on military projects and scrutiny over safety issues in its commercial airline division. Analysts view the F-47 deal as a much-needed turnaround for the company’s struggling defense sector.

Lockheed Martin, which has dominated the US fighter jet market with the F-22 and F-35, now faces an uncertain future after losing both the NGAD contract and a recent bid for the Navy’s next-generation carrier-based stealth fighter.

While Lockheed could challenge the decision, Trump’s high-profile announcement may reduce the likelihood of a formal protest.

(With inputs from Reuters)