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US President Donald Trump awarded Boeing the contract to build the US Air Force's most advanced fighter jet, the F-47, on Friday, marking a significant win for the company. The new aircraft is part of the Next Generation Air Dominance program, which will replace Lockheed Martin's F-22 Raptor with a crewed jet designed to operate alongside drones. “We've given an order for a lot. We can't tell you the price,” Trump said during a press conference in the Oval Office. “Our allies are calling constantly… They want to buy them also,” he added, hinting at the possibility of foreign sales. "Nothing in the world comes even close to it," he said. Defense Secretary Pete Hegseth also highlighted the significance of the announcement, calling it a pivotal moment for the military. "We’ve had the F-15, F-16, F-18, F-22, and F-35. Now we have the F-47," he said. "It sends a very direct, clear message to our allies that we’re not going anywhere, and to our enemies that we can, and will, be able to project power around the globe unimpeded for generations to come." For Boeing, this victory represents a much-needed boost, especially given the company’s struggles in both its commercial and defense sectors. The engineering and manufacturing development contract, valued at over $20 billion, sets the stage for potentially hundreds of billions in orders over the contract’s multi-decade span. Shares of Boeing rose 4% following the announcement, while Lockheed Martin's shares fell nearly 7%. The design of the F-47 remains a closely guarded secret, but it is expected to include advanced stealth, sensors, and cutting-edge engines. Chief of Staff of the Air Force General David Allvin highlighted the F-47’s advantages over the F-22, stating, “Compared to the F-22, the F-47 will cost less, be more adaptable to future threats, and we will have more of the F-47s in our inventory.” The F-47 is part of the US Air Force’s strategy to develop a “family of systems” centered around a sixth-generation fighter to counter adversaries such as China and Russia. Allvin noted that the F-47 would feature longer range, more advanced stealth, and greater sustainability and supportability than its predecessor. Boeing’s recent troubles, including cost overruns and production delays, have weighed heavily on the company. The firm has faced significant challenges with the KC-46 mid-air refueling tanker program and the Air Force One upgrade, which resulted in billions in losses. Despite these setbacks, the contract win is a major step forward, according to analyst Roman Schweizer: “The win is a major boost for the company, which has struggled with cost overruns, schedule delays, and execution on other DoD programs.” Boeing has also faced scrutiny following incidents involving the 737 MAX, including a mid-air emergency in January 2024, which raised concerns over the aircraft’s safety. These challenges have allowed rival Airbus to gain ground in the delivery race, further complicating Boeing’s position in the commercial market. Lockheed Martin, which had previously been a contender for the fighter jet contract, now faces uncertainty in the high-end fighter market after being passed over for the deal. Despite this, there may still be opportunities for Lockheed to protest the award, although the high-profile announcement by Trump in the Oval Office could reduce the likelihood of such a challenge. Billionaire and presidential adviser Elon Musk has voiced skepticism regarding the effectiveness of crewed high-end fighters, suggesting that cheaper drones could be a better alternative for modern warfare. The F-47's development signals a new chapter in the US Air Force’s plans for next-generation fighter jets, with Boeing set to play a central role in shaping the future of military aviation.
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