President Donald Trump said Friday that Boeing Co. has a significant Pentagon contract for a next-generation fighter jet.
As Boeing works on a turnaround, the victory over competing Lockheed Martin Corp. seems like a major lift for the aerospace behemoth. Taking over the top post in August, Boeing Chief Executive Kelly Ortberg made news in late November stating the business is “at a low” and that he is “tired of the drumbeat of ‘what’s wrong with Boeing.'”
Lockheed’s F-22 Raptor is meant to be replaced with the next combat plane. The contract is valued at least $20 billion.
While Lockheed’s stock (LMT) fell almost 7%, Boeing’s (BA) shares were recently higher by 5%.
Declaring the aircraft to be “the world’s first sixth-generation fighter jet,” Trump said in front of White House Oval Office reporters “nothing in the world comes even close to it.”
We’ll call it the F-47. The generals chose a title; it’s a lovely number,” said Trump, the 47th president of the United States following 45th commander in chief service.
From Market Watch’s archives (January 28, 2025): Boeing CEO: Though perhaps a “pruning,” do not expect a significant restructure.
