Trump Awards Boeing Landmark Fighter Jet Contract

President Donald Trump has awarded Boeing a contract to build the U.S. Air Force's next-generation fighter jet, the F-47. This marks a significant win for Boeing, which beat Lockheed Martin for the deal worth over $20 billion. The NGAD program aims to counter China and Russia.

In a significant victory for Boeing, U.S. President Donald Trump has awarded the company a monumental contract to construct the Air Force's most advanced fighter jet, the F-47, as part of the Next Generation Air Dominance (NGAD) program.

This strategic win comes as Boeing outmaneuvered Lockheed Martin, causing Boeing's shares to rise by 5% while Lockheed's dipped by nearly 6%. The engineering and manufacturing deal is valued at over $20 billion, with long-term orders potentially reaching hundreds of billions more.

Despite recent challenges, including cost overruns on military projects, Boeing's triumph could bolster its defense operations. However, skepticism remains, with figures like Elon Musk suggesting a reliance on drones over crewed fighter jets.

(With inputs from agencies.)