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• President Donald Trump announced that Boeing has won the contract to develop the U.S. Air Force’s next-generation stealth fighter, the F-47.
• The F-47, part of the Next Generation Air Dominance (NGAD) initiative, will replace the F-22 and integrate with autonomous drones.
• This decision is seen as a significant boost for Boeing and a major setback for Lockheed Martin, the other competitor.

Quick Brief

2-Minute Digest

Essential Context

On March 22, 2025, President Trump revealed that Boeing has secured the contract for the U.S. Air Force’s next-generation fighter jet, the F-47. This announcement marks a crucial milestone in the Next Generation Air Dominance (NGAD) program, aimed at developing a sixth-generation fighter that will succeed the F-22.

Core Players

• Donald Trump – President of the United States
• Boeing – Aerospace giant awarded the F-47 contract
• Lockheed Martin – Competitor that lost the F-47 contract
• U.S. Air Force – Primary beneficiary of the F-47 program

Key Numbers

• $20 billion – Initial estimated value of the Boeing contract
• $300 million – Projected cost per F-47 airframe (previously estimated)
• 3% – Increase in Boeing stock following the announcement
• 5.8% – Decline in Lockheed Martin stock after losing the contract

Full Depth

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The Catalyst

“The F-47 will be the most advanced, most capable, most lethal aircraft ever built,” President Trump said during the announcement. This decision comes after a rigorous competition and a brief pause in the program last year to review its necessity and affordability.

The NGAD program was paused in 2024 due to cost concerns, but recent studies have reaffirmed the importance of air superiority, making the F-47 a critical component of future U.S. military strategy.

Inside Forces

The selection of Boeing over Lockheed Martin is a significant turnaround for Boeing, which has faced numerous setbacks in recent years, including labor strikes and safety issues with its commercial airliners.

Lockheed Martin, despite losing the F-47 contract, will continue producing the F-35 multirole stealth fighter for the Air Force, Navy, Marine Corps, and U.S. allies.

Power Dynamics

The decision highlights the strategic importance of air superiority in modern warfare. Retired Air Force Lt. Gen. David Deptula emphasized that “no major military campaign can succeed without air superiority,” underscoring the F-47’s role in maintaining U.S. military dominance.

Defense Secretary Pete Hegseth reinforced this by stating that the F-47 “sends a very direct, clear message to our allies that we’re not going anywhere, and to our enemies that… we will be able to project power around the globe unimpeded for generations to come.”

Outside Impact

The F-47’s development has broader implications, particularly in the context of rising global military capabilities. China’s recent unveiling of new aircraft and drones has heightened the need for advanced U.S. airpower.

The integration of the F-47 with autonomous drones addresses the limitations of current drone technology, which has been vulnerable to jamming and less effective in complex combat roles.

Future Forces

The F-47 program is expected to evolve alongside other advanced military initiatives. The Air Force is also conducting a separate contest for the Collaborative Combat Aircraft (CCA), involving General Atomics and Anduril Industries.

The Navy’s next-generation fighter, dubbed F/A-XX, is another area of focus, with Boeing competing against Northrop Grumman for the contract.

Data Points

• March 2025: Trump announces Boeing as the winner of the F-47 contract
• 2024: NGAD program paused due to cost concerns
• $80-100 million: Targeted cost per airframe after cost review
• Five years: Duration of secret experimental flights of the F-47