The Pentagon and the White House announced that Boeing has defeated Northrop Grumman and won a contract to produce the next generation of top fighter aircraft for the US Navy — the highly confidential F/A-XX. This is the second major fighter project Boeing won this year. In March of this year, Boeing defeated Lockheed Martin and won the Air Force stealth fighter F-47 program. The US Navy has yet to release many details of the project — which is intended to replace the F/A-18 Hornet fighter — such as estimated overall R&D and procurement costs, procurement volume, and when it is expected to enter service. Shares of Boeing rose 3.4% after the market. Northrop Grumman shares fell 5%.

The Pentagon and the White House announced that Boeing has defeated Northrop Grumman and won a contract to produce the next generation of top fighter aircraft for the US Navy — the highly confidential F/A-XX. This is the second major fighter project Boeing won this year. In March of this year, Boeing defeated Lockheed Martin and won the Air Force stealth fighter F-47 program. The US Navy has yet to release many details of the project — which is intended to replace the F/A-18 Hornet fighter — such as estimated overall R&D and procurement costs, procurement volume, and when it is expected to enter service. Shares of Boeing rose 3.4% after the market. Northrop Grumman shares fell 5%.