Boeing Wins Navy’s $20 Billion F/A-XX Contract

The U.S. Navy selected Boeing for a contract worth more than $20 billion to develop the F/A-XX, a sixth-generation carrier-based fighter intended to extend the Navy’s combat reach and begin replacing F/A-18 Super Hornets in the 2030s. Development includes multiple test aircraft for ground, airworthiness, systems and weapons-integration testing; production and delivery are years away, and technical details are classified. The selection gives Boeing both major U.S. military sixth-generation fighter programs, following its selection for the Air Force’s F-47; Northrop Grumman was the competing bidder. Separately, the U.S. Air Force awarded Boeing a $2.38 billion contract for 22 F-15EX fighters in the seventh production lot, bringing the total under contract to 120 and preserving all 22 planned aircraft despite inflation and production disruptions, including a 2025 strike. The award also met a deadline to commit congressional reconciliation funds before fiscal 2027; the F-15EX is intended to replace aging F-15C/Ds, and the planned fleet has grown to 267 aircraft, with procurement also expected to help recapitalize the F-15E fleet. Boeing is working with the Air Force and the Department of War to increase F-15EX production to two aircraft per month; the F/A-XX award lifted Boeing shares, though its development focus may limit near-term financial impact and the commercial-aircraft business remains important to investors.