On March 21, 2025, President Donald Trump announced that Boeing has won the contract to build the U.S. Air Force’s next-generation fighter jet, known as the Next Generation Air Dominance (NGAD) platform, designated the F-47. The announcement was made in the Oval Office alongside Defense Secretary Pete Hegseth and Air Force leadership. This sixth-generation stealth fighter, intended to replace Lockheed Martin’s F-22 Raptor, is designed to operate alongside drones and counter advanced threats like those from China. The initial engineering and manufacturing development contract is valued at over $20 billion, with potential orders worth hundreds of billions over decades.

Boeing beat out Lockheed Martin in a competitive process, a significant win for the company amid struggles in its commercial and defense sectors, including cost overruns on programs like the KC-46 tanker and Air Force One upgrades. Trump highlighted the jet’s advanced capabilities—stealth, speed, and lethality—claiming an experimental version has been secretly flying for nearly five years. Boeing’s stock rose 5% following the news, while Lockheed’s fell nearly 7%. The decision marks a shift after the Biden administration paused NGAD in 2024 to reassess its cost and relevance, leaving the final call to Trump’s team. Critics, including some analysts, question the need for another pricey manned fighter given the rise of drones, but the administration frames it as a strategic move to maintain air superiority.