Boeing just won the kind of contract that defense contractors dream about. The U.S. Navy awarded the company up to $20 billion to develop its next-generation fighter, and the stock traded higher Tuesday on the news.
This is Boeing's second big sixth-generation fighter win. The company beat out Northrop Grumman Corp. (NOC) for this one, after beating Lockheed Martin last year for a $20 billion development contract on the Air Force's F-47.
The award covers multiple test aircraft and weapons-integration testing. If Boeing delivers and the tests go well, the program could be worth hundreds of billions of dollars down the road, according to Reuters.
"F/A-XX will dominate contested airspace, extend operational reach, and deliver a decisive combat advantage for the warfighter," Pentagon acquisition chief Michael Duffey said.
The new aircraft is meant to replace the current F/A-18E/F Super Hornet and EA-18G Growler in the 2030s. Duffey called it a "crucial, non-negotiable investment" for the Navy.
Getting to this point wasn't smooth. The decision faced multiple delays and Congress got involved along the way. Lockheed Martin was eliminated from the competition earlier, leaving Boeing and Northrop as the two finalists.
Congress Members Bought Boeing Stock
Congressional trading in defense stocks has drawn sustained criticism from ethics groups and fueled bipartisan proposals to bar members from trading individual stocks. Purchases made during periods of heightened geopolitical conflict attract particular scrutiny.
Disclosures show three members reported buying Boeing stock earlier in 2026, before the award was announced. That Boeing and Northrop were the program's two finalists had already been publicly reported.
Under the STOCK Act, members report trades in value ranges rather than exact amounts, and disclosures also cover trades made by a spouse or by an advisor with discretion over the account.
The members of Congress who bought Boeing stock in 2026 are:
- March 27: Sen. Alan Armstrong (R-Okla.), $1,000 to $15,000
- March 19: Rep. Maria Elvira Salazar (R-Fla.), $16,000 to $65,000
- Feb. 2: Rep. Julia Letlow (R-La.), $1,000 to $15,000
Several other members have sold Boeing stock this year, and several likely own shares purchased before the start of 2026.
Boeing Stock Rises
On Wednesday, Boeing (BA) stock was down 0.96% to $185.88. The stock is down 13.6% year-to-date, which means several members who bought this year are likely underwater on their initial purchases.
