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FollowingCore Points
Boeing has won a multibillion-dollar contract from the U.S. Navy to develop the F/A-XX sixth-generation fighter jet. Northrop Grumman's shares fell about 4% in pre-market trading after the bid failed. Boeing's share price rose about 3% in pre-market trading following the announcement.
This is the second sixth-generation fighter contract Boeing has won in 2025, after defeating Lockheed Martin in the U.S. Air Force's F-47 program competition. The F/A-XX program aims to eventually replace Boeing's existing F-18 Super Hornet fighter jets and enhance the operating range of the Navy's Carrier Strike Group.
Boeing wins another major defense contract
On Tuesday, the U.S. Navy announced that Boeing had won the bid to develop its F/A-XX sixth-generation fighter jet, successfully defeating rival Northrop Grumman. This victory marks another major breakthrough for Boeing in the defense field.
Northrop Grumman (NOC) shares fell 4% to $482.94 per share in pre-market trading after the announcement. By comparison, Boeing's share price surged 3% to $192.49 per share in pre-market trading.
Given market sentiment, this failure is heavy for Northrop Grumman. Industry analysts and investors generally believe Northrop Grumman has a competitive advantage before the competition begins. This confidence stems in part from Boeing's recent victory. As early as early as 2025, Boeing defeated Lockheed Martin in the Air Force's F-47 sixth-generation fighter contract, when many observers speculated that the military might allocate awards to maintain multiple viable sixth-generation R & D projects among different contractors. However, these predictions proved wrong.
Detailed explanation of the F/A-XX project
Specific details of the F/A-XX project remain highly confidential, and the Pentagon has disclosed very little information. Official data on total project expenditures, planned production quantities or expected deployment schedules have not yet been released.
Existing information shows that this aircraft will become the ultimate successor to the F-18 Super Hornet fighter jet currently manufactured by Boeing. The platform aims to significantly increase the strike range capabilities of carrier-based naval aviation.
The sixth-generation fighter aircraft has advanced weapon integration, complex software architecture and enhanced stealth capabilities. These technological improvements have had a huge financial impact. For reference, the unit price of the F-35 fifth-generation fighter exceeds US$100 million, and maintenance costs range from US$500 million to US$700 million throughout its life cycle.
国防部长皮特·赫格塞思和副部长史蒂夫·费恩伯格去年曾对该F/A-XX计划表示保留意见。他们的担忧主要集中在美国的国防制造业基础设施能否同时支持两个平行的第六代飞机研发项目。国会领导层不同意这一评估，并通过拨款数亿美元专项资金强制推进该项目。
关于波音产能的疑问
随着波音公司同时掌控空军和海军的第六代战斗机项目，人们对其产能提出了质疑：该公司是否有足够的人力来同时开展这两项并发的工作？
前国会研究局（Congressional Research Service）专家J.J. Gertler指出，劳动力可用性是未来主要的限制因素。“在某些时候，瓶颈将出现在人员身上，”他解释道，强调了靠近波音圣路易斯制造设施的合格工程师和技术专家池正在缩小。
航空行业分析师理查德·阿布达拉菲亚认为，错失这份合同并不代表诺斯罗普·格鲁曼遭遇了灾难性的挫折。该公司仍承担着大量正在进行的项目，包括B-21隐形轰炸机计划和“哨兵”洲际弹道导弹系统，这确保了其业务的持续稳健运行。
尽管如此，阿布达拉菲亚将这两份合同的胜利描述为对波音具有变革意义，称该公司在国防承包领域已成为“新宇宙的主宰”。
波音防御部门的挑战与复苏
Boeing's defense department has faced many challenges recently. The division reported an operating loss of $128 million in 2025, an improvement from the loss of $5.4 billion recorded in 2024. Since 2021, the division has not yet achieved full-year profit.
William Blair analyst Louis Di Palma called the naval contract a "milestone" achievement for Boeing's struggling defense business.
Before the contract was announced, Boeing shares had risen 2% during regular trading on Tuesday, partly restoring losses caused earlier this week by reports of software problems with the 737 MAX aircraft.
