What does winning the F-47 sixth-generation fighter jet contract mean for Boeing?

On Friday, March 21, accompanied by Defense Secretary Pete Hegseth, President Trump announced at the White House that the next-generation fighter jet of the United States Air Force will be designated as “F-47” and will be developed and produced by Boeing.

Trump emphasized that the F-47 fighter jet will be the most advanced, highest-performing, and most lethal aircraft. Boeing winning the contract for the F-47 is a long-awaited victory for the company.

According to Trump, the prototype of the new aircraft has been test-flying for nearly 5 years and features stealth technology and the ability to carry multiple drones. He expressed confidence in the progress of the aircraft’s development and mentioned the possibility of selling a downgraded version of the F-47 to allies with approximately 10% reduced performance, as some allies have expressed interest in purchasing the aircraft.

The U.S. Air Force aims to begin deploying the F-47 within the next ten years to replace the existing F-22 “Raptor” produced by Lockheed Martin, ensuring America’s dominance in the skies.

Previously known as the Next Generation Air Dominance (NGAD) program, the U.S. Air Force’s next-generation fighter aircraft had competitors including Lockheed Martin, Northrop Grumman, and Boeing. Northrop Grumman voluntarily withdrew from the bidding in July 2023, and there were reports in July 2024 of the NGAD project being put on hold, awaiting the decision of the next president on whether to proceed.

Boeing, which has not developed a new fighter jet in a long time, previously introduced the X-32B prototype in competition with Lockheed Martin’s X-35 for the JSF program but ultimately lost, with Lockheed Martin winning the production of the F-35 fighter.

In recent years, Boeing has faced various issues including the grounding of the Boeing 737 MAX, problems with the KC-46 aerial refueling tanker, and delays in the Starliner manned spacecraft program leading to significant financial losses. Failure to secure the NGAD project would be a major blow to Boeing.

In the U.S. military aircraft market, Lockheed Martin, Northrop Grumman, and Boeing are the three major companies dividing the market share. Lockheed Martin has the largest share and is responsible for producing fighters like the F-16, F-22, and F-35, as well as reconnaissance and transport aircraft.

Northrop Grumman produces strategic bombers, surveillance drones, and airborne early warning aircraft among others. Boeing, a leading commercial aircraft manufacturer and the second-largest defense contractor, produces various military aircraft including bombers, fighters, and tankers.

Lockheed Martin has been the main producer of U.S. military fighters from the F-16 to the F-35, limiting opportunities for other companies to participate in fighter jet projects. Winning the contract for the F-47 opens up more opportunities for Boeing in the U.S. Air Force.

Regarding the design of the NGAD fighter, it remains highly classified with no public photos of the aircraft, only renderings released by the U.S. Air Force on the 21st. It is known that the engine will be chosen from Pratt & Whitney and General Electric’s variable-cycle engines. The initial contract for the project is valued at over $20 billion, with Boeing expected to secure orders worth hundreds of billions of dollars.

Hegseth stated that with F-15, F-16, F-18, F-22, F-35, and now F-47, the U.S. has a formidable lineup of fighter aircraft. He emphasized that the F-47 represents significant progress over the F-22, the current main air dominance fighter of the U.S. Air Force. This sends a clear message to allies that the U.S. is committed and ensures adversaries that America has the capability to project power globally without hindrance for years to come.

General David Allvin, Chief of Staff of the U.S. Air Force, mentioned that as a cornerstone of the next-generation air dominance system, the F-47 is believed to provide increased lethality. Its integration of advanced stealth, sensor fusion, and long-range strike capabilities allows it to confront the most complex adversaries in a competitive environment. The adaptability and modular design of the F-47 ensure seamless integration with emerging technologies, making it the dominant aerial combat platform for the next decades.