Boeing Wins Navy's F/A-XX Contract for Sixth-Generation Carrier Fighter in Deal Reported Above $20 Billion

The U.S. Navy has selected Boeing to design, build and deliver its F/A-XX sixth-generation strike fighter, the company announced on September 29, 2026. CNBC reported that the contract, described by the defense departments as worth more than $20 billion, covers work on the aircraft "over a long-term phase." Boeing's own statement is less specific, calling the award a "multi-billion-dollar contract to produce its F/A-XX aircraft."

Contract Value and Structure

Boeing said in its release that "the technical and programmatic details of F/A-XX remain classified under U.S. national security and export laws," which limits what the company can disclose about cost structure, period of performance, or milestone payments. Neither Boeing's statement nor CNBC's report specified whether the award is cost-plus or fixed-price, and neither included figures on the number of test aircraft or fiscal-year appropriations. The more than $20 billion figure, which CNBC attributed to the defense departments, is the only specific dollar amount in the available statements.

Navy and Pentagon Comments

Michael P. Duffey, Under Secretary of War for acquisition and sustainment, said, "The F/A-XX is a critical pillar in our commitment to maintaining peace through strength. F/A-XX will dominate contested airspace, extend operational reach, and deliver a decisive combat advantage for the warfighter," according to CNBC's report. The F/A-XX is intended to replace the Navy's fleet of F/A-18 Super Hornets, both Boeing and CNBC noted, and Boeing said the fighter "will revolutionize advancements in open mission systems architecture, advanced mission systems and operational reach and capacity."

Northrop Grumman Loses Out

CNBC identified Northrop Grumman as the competitor that lost the award, reporting that "Boeing repeatedly beat Northrop for the government deal." The report did not address Lockheed Martin's status in the competition or whether any protest of the award is being contemplated, and no such details appear in Boeing's statement either.

The two stocks moved in opposite directions on the news. According to CNBC, Boeing shares were last up 3.1% in premarket trading, while Northrop Grumman shares were down 3.5% in the same session. By our calculation, that is a gap of 0.4 percentage points between the two moves (3.1 minus 3.5), meaning Boeing's percentage gain was roughly 11.4% smaller than the size of Northrop's percentage decline (calculated as (3.1 minus 3.5) divided by 3.5, times 100). This is a straightforward comparison of the two reported premarket moves, not a forecast of where either stock will trade going forward.

Second Sixth-Generation Win in a Year

Boeing said the F/A-XX award is its second selection for sixth-generation fighter work in roughly a year, following the U.S. Air Force's selection of Boeing for its F-47 program in 2025. Steve Parker, president and chief executive officer of Boeing Defense, Space & Security, framed the win as validation of the company's prior investment decisions: "Delivering two advanced fighters in parallel was always our plan, and we invested accordingly. We are ready and able to build multiple concurrent future combat aircraft franchise programs."

Parker also said, "It's an honor to be selected to produce the Navy's first sixth-generation platform. Backed by decades of work, bolstered by game-changing innovations and solidified by the investments we've made in new facilities uniquely suited to build multiple products with next generation capabilities, our dedicated and talented team is ready to execute this critical program."

St. Louis Facility in Focus

Boeing's release was issued from St. Louis, where the company said construction continues on what it calls its secure manufacturing facility, described as the largest in the United States and intended to be part of "the world's most advanced, all-digital aerospace design and manufacturing system." The statement did not specify how F/A-XX production will be divided among that facility and other Boeing sites, nor did it address staffing or margin implications at the St. Louis fighter line as the program moves forward. Those remain open questions the company has not yet detailed publicly.

Broader Context

The award lands alongside a separate setback in Boeing's commercial business. CNBC reported that Boeing recently flagged a software glitch in some 737 Max 10 aircraft that could affect certain landing procedures, prompting the FAA to delay certification of the jet. FAA Administrator Bryan Bedford said at a Washington press conference on air traffic modernization, "We haven't concluded whether this is a safety-of-flight issue or not, but we will be delaying the 10 ... until we're satisfied that we don't have an issue here."

Bottom Line

The F/A-XX award gives Boeing its second sixth-generation fighter program in about a year, following the Air Force's F-47 selection in 2025, and comes with a headline value CNBC put above $20 billion, citing the defense departments, though Boeing itself has only called it "multi-billion-dollar" and cites classification rules for withholding contract structure details. CNBC reported Northrop Grumman shares fell 3.5% in premarket trading as the losing bidder, while Boeing's commercial division faces a separate certification delay on the 737 Max 10. Investors weighing the defense win should note that key financial and program details, including exact contract terms, test-aircraft counts and near-term appropriations, have not been disclosed in the available statements.