• US President Donald Trump speaks during an Education event and signs executive orders in the East Room of the White House in Washington, DC, March 20, 2025 (AFP) 

US President Donald Trump on Friday awarded Boeing the contract to manufacture the US Air Force’s most advanced fighter jet to date, the F-47, providing the company with a crucial victory amid its recent struggles.  

The Next Generation Air Dominance (NGAD) program will replace Lockheed Martin’s F-22 Raptor with a crewed aircraft designed to operate alongside drones. The announcement comes amid concerns over budget constraints and shifting defense priorities.

Trump, the 47th US president, personally announced the jet's designation as the F-47.  

"We've given an order for a lot. We can't tell you the price," Trump told reporters in the Oval Office.

The contract marks a significant turnaround for Boeing, which has faced challenges in both its commercial and defense sectors. The deal delivers a major boost to its fighter jet production operations in St. Louis, Missouri.  

The engineering and manufacturing development contract is valued at more than $20 billion, with Boeing set to produce the aircraft and secure orders worth hundreds of billions of dollars over the contract’s multi-decade lifespan.  

The announcement comes as Trump continues efforts to cut government spending, though the scope and legality of these measures have been contested. On Thursday, he signed an executive order aimed at dismantling the Department of Education.

Following the announcement, Boeing shares surged nearly 5%, while shares of rival Lockheed Martin, which lost the bid, fell nearly 7%.  

Chief of Staff of the Air Force, General David Allvin, highlighted the advantages of the new aircraft, stating, "Compared to the F-22, the F-47 will cost less and be more adaptable to future threats - and we will have more of the F-47s in our inventory."

Allvin further noted that the F-47 would feature a significantly extended range, enhanced stealth capabilities, and improved sustainability and supportability compared to the F-22.

NGAD was conceived as a "family of systems" centered around a sixth-generation fighter jet designed to counter near-peer adversaries like China and Russia. After a period of uncertainty regarding the program’s future, it has moved forward under the Trump administration, which took office in January.

Billionaire and presidential advisor Elon Musk has expressed skepticism about the effectiveness of high-end crewed fighter jets, advocating instead for cheaper, unmanned drone alternatives.

Last year, the NGAD program faced potential delays and scope reductions due to budget pressures and cost overruns in other Air Force projects. However, Friday’s anticipated announcement signals that a finalized design, approved last year, will now be selected.

Lockheed Martin acknowledged the outcome in a statement, saying, "While disappointed with this outcome, we are confident we delivered a competitive solution."

"We will await further discussions with the US Air Force."

While Lockheed retains the option to contest the award, Trump's high-profile announcement of the deal may diminish the likelihood of a formal challenge from the Bethesda, Maryland-based defense contractor.

Lockheed Martin, having recently been eliminated from the competition for the Navy’s next-generation carrier-based stealth fighter, would likely double down on its F-35 program and the international sales of its F-16 jets after it failed to secure the NGAD contract.