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Boeing chosen by U.S. navy to develop next-generation fighter jet
The Department of War and the U.S. Navy said Tuesday that it's chosen aircraft manufacturer Boeing to develop its next generation of fighter jets.
Why it matters
BA (Boeing) · Why linked: Boeing was directly selected by the U.S. Navy to develop the next-generation fighter jet, representing a major defense contract win. Market context: This multi-billion dollar defense contract win should boost Boeing's defense segment revenue and backlog, lifting the stock price.
LMT (Lockheed Martin) · Why linked: As Boeing's main competitor in the naval fighter jet domain, Lockheed Martin's positioning in future Navy procurement may be affected by this award. Market context: Losing the next-gen fighter program to Boeing may reduce Lockheed Martin's future defense backlog from this program.
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