Boeing Stock Jumps, Lockheed Falls on Air Force Jet Fighter Contract News | Global News Avenue

Boeing shares (BA) Jump Friday and lead Dow Jones Industrial Average Win the winner of President Donald Trump’s contract to name the aircraft manufacturer as the contract to build the Air Force’s next-generation F-47 fighter aircraft.

“After a strict and thorough competition between some of the top Americans Airline Companythe Air Force will award Boeing a contract to its next-generation air superiority platform,” Trump said. Wall Street Journal.

The Air Force later confirmed that it did indeed award the next-generation air superiority platform contract to Boeing. Financial terms are not disclosed, but Magazine “Experts say the total research, development and acquisition costs could exceed $50 billion,” the report said.

“We recognize the importance of designing, building and delivering sixth-generation fighter jets for the U.S. Air Force,” said Steve Parker, CEO of Boeing Defense, Space and Security. “In preparation for this mission, we made the most important investment in the history of defense operations.”

Boing shares have recently risen nearly 4%. Lockheed Martin’s shares (LMT) Sinks over 5% after the defense contractor lost to its competitors. Lockheed provided the Air Force with F-22 Raptors and F-35 fighter jets. The F-47 will replace the F-22. Magazine explain.

“Although we are disappointed with this result, we are confident that we have a competitive solution.” Lockheed A spokesperson said in a statement Investopedia. “We will wait for further discussion with the U.S. Air Force.”