President Trump announced Boeing's contract to build the U.S. Air Force's next generation fighter jets, designated as F-47. Dubbed as the Next Generation Air Dominance (NGAD), Trump emphasized its superiority, insisting that its power would be unmatched and that it would be virtually unseeable on radar. Early development costs are projected to exceed $20 billion. This project marks a crucial turnaround for Boeing, amidst previous setbacks linked to safety and operational issues. Following the announcement, Boeing's stock increased while competitor Lockheed Martin's shares fell due to concerns over the F-35 jet.
Trump stated, "They will have unprecedented power," assuring that America's enemies will never see the F-47 coming, showcasing its advanced stealth capabilities.
Boeing's stock rose by about 5% following the announcement, indicating a boost in investor confidence after recent PR crises and setbacks the company faced.
Despite uncertainties, early estimates suggest that development costs of the F-47 will exceed $20 billion, with potential final costs reaching into the hundreds of billions.
The F-47, described as virtually unseeable on radar, is planned to be built at Boeing's facility in St. Louis, marking a significant development in military aviation.
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