Boeing shares climbed nearly 3% in premarket trading Wednesday. The U.S. Navy selected the company to build its next-generation fighter jet.
The contract marks a major turnaround for Boeing’s defense division. Just months ago, the company faced the possibility of losing all fighter-jet production.
Boeing had struggled to secure new military aircraft orders amid delays and cost overruns. The Navy deal restores its role in combat aviation.
The new fighter program aims to replace older jets with advanced stealth and networking capabilities. Boeing will now lead design and development work.
Financial terms of the contract were not immediately disclosed. Analysts expect the award to stabilize Boeing’s defense revenue stream.
The stock reaction reflects investor relief over Boeing’s long-term military outlook. The company remains a key supplier for several Pentagon programs.
Boeing will compete with other defense contractors for future production phases. The Navy’s decision signals continued confidence in its engineering teams.
