Boeing wins $20B US Navy F/A-XX contract replacing Super Hornets
Boeing just landed a massive $20 billion contract to build the US Navy's next-generation fighter jets, called the F/A-XX.
These new jets will eventually replace the Navy's old Super Hornets in the 2030s.
It's another big win for Boeing, which also scored a similar US Air Force contract last year.
Boeing builds jets in St. Louis
The jets will be built at Boeing's huge St. Louis facility, the largest of its kind in the US.
Northrop Grumman, which was also competing for the project, said, "For F/A-XX, Northrop Grumman offered a highly survivable, digitally advanced sixth-generation fighter to the US Navy," and "We look forward to receiving additional information about their selection."
Pentagon officials stressed that getting these new fighters ready on time is key to keeping air superiority.
After news broke, Boeing's stock jumped 2.4%, while Northrop Grumman's dropped 3.6%.