TLDR
- Boeing won a $20 billion U.S. Navy contract to develop the F/A-XX sixth-generation fighter jet.
- BA stock rose 2% in after-hours trading Tuesday following the news.
- Boeing beat out Northrop Grumman for the contract.
- This is Boeing’s second sixth-generation fighter win, after the Air Force’s F-47 in 2025.
- The F/A-XX is expected to enter service in the 2030s, replacing the Navy’s F/A-18E/F Super Hornets.
Boeing stock rose 2% in after-hours trading Tuesday. The move came after the U.S. Navy picked the company to develop its next-generation F/A-XX fighter jet.
The contract is worth more than $20 billion. It covers the full-scale development phase of the program.
Boeing beat out Northrop Grumman for the win. Northrop stock fell 3% on the news.
6th-gen edge.
Thank you, @USNavy, for continuing our partnership to design, build and deliver your F/A-XX aircraft. We’re honored to produce the 6th-generation fighter that will revolutionize advancements in naval aviation to maintain U.S. carrier air superiority.
Release:… pic.twitter.com/LaGUxgefSm
— Boeing Defense (@BoeingDefense) September 29, 2026
This is Boeing’s second major sixth-generation fighter contract in two years. The company also won the Air Force’s F-47 program in 2025, beating Lockheed Martin for that deal.
Boeing now holds both of the Pentagon’s next-generation fighter programs. That’s a rare double for one manufacturer.
What the F/A-XX Program Covers
The F/A-XX is meant to become the Navy’s sixth-generation carrier-based fighter. It’s expected to enter service sometime in the 2030s.
The jet will start replacing the Navy’s aging F/A-18E/F Super Hornets and EA-18G Growlers. Those aircraft have been the backbone of carrier air wings for years.
The program falls under the Navy’s Next Generation Air Dominance plan. Officials want the new jet to fly longer distances and work alongside unmanned aircraft.
Pentagon acquisition chief Michael Duffey called the F/A-XX a “crucial, non-negotiable investment” in long-term air combat capability. He said it will help the U.S. maintain an edge in contested airspace.
The contract includes several test aircraft. These will be used for ground, flight, weapons, and systems testing.
A Program That Almost Got Delayed
The competition wasn’t a smooth ride. The Pentagon at one point considered pushing the program back by up to three years due to engineering and supply-chain concerns.
Congress stepped in to keep things moving. Lawmakers added $750 million in 2025 and another $1.4 billion for fiscal 2026 to fund the effort.
Lockheed Martin was cut from the running back in March 2025. That left Boeing and Northrop as the final two contenders.
Boeing Defense CEO Steve Parker pointed to the company’s investment in new facilities as a reason it was ready to take on the program. He said the plants are built to handle multiple next-generation products at once.
Reuters reported the F/A-XX could eventually be worth hundreds of billions of dollars once production ramps up. Foreign orders could add to that total down the line.
The Navy expects the first production aircraft sometime in the 2030s. The F/A-XX will fly alongside more than 270 planned F-35Cs, while Super Hornets are expected to stay in service into the 2040s.
On TipRanks, BA carries a Strong Buy consensus rating based on 17 Buys and one Hold. The average price target of $272 implies nearly 45% upside from current levels.
Boeing shares are still down 14% year-to-date despite Tuesday’s after-hours pop. The stock closed at $191.81 following the announcement.
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