NOC - These Two Defense Titans Will Battle to Build the Nation's Next Fighter Jet
2023-07-29 08:00:00 ET
Northrop Grumman (NYSE: NOC) will not compete to build the Air Force's next-generation fighter jet, setting up a dogfight between Lockheed Martin (NYSE: LMT) and Boeing (NYSE: BA) for what could end up being a multidecade, nine-figure contract for the winner.
The decision by Northrop, announced by CEO Kathy Warden on the company's second-quarter earnings call , was a surprise, though the company could still end up profiting from the new jet. The Next Generation Air Dominance (NGAD) fighter will succeed Lockheed's F-22, a program that cost the government nearly $70 billion in new plane sales and significantly more in upkeep and servicing.
Here's a look at the opportunity in front of Lockheed and Boeing and a breakdown of each company's chances.
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These Two Defense Titans Will Battle to Build the Nation's Next Fighter Jet