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The White House is poised to reveal the winner of a high-stakes competition to develop the next-generation fighter jet. Lockheed Martin (NYSE: LMT) and Boeing (NYSE: BA) are the primary contenders vying for this lucrative contract, which is part of the Next Generation Air Dominance (NGAD) program.
The announcement will be made by President Donald Trump and Defense Secretary Pete Hegseth, underscoring the significance of this decision in shaping the future of U.S. military capabilities. The new aircraft is intended to replace the aging F-22 Raptor and will work alongside unmanned systems, reflecting a strategic pivot towards advanced technology integration.
The program is backed by a substantial budget, with $16 billion earmarked for research and development through 2028, amidst growing concerns over China’s advancements in similar technologies.
NGAD Contract Puts BA and LMT on the Move
The anticipation surrounding the NGAD contract has had a notable impact on the stock performance of the involved companies. Boeing’s stock opened at $172.06 and saw a slight increase, reaching a current price of $174.08, with the day’s high at $175.63.
Despite recent fluctuations, the stock remains below its 52-week high of $196.95. Analysts maintain a positive outlook with a “Buy” recommendation, and price targets suggest potential gains, with a target mean price of $196.21.
Meanwhile, Lockheed Martin’s stock opened at $478.09 and is currently trading at $477.76. The stock has shown stability, with a 52-week high of $618.95 and a promising target mean price of $544.62. Analysts also recommend buying Lockheed Martin shares, indicating confidence in the company’s prospects regardless of the contract outcome.
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Musk Could Play a Pivotal Role in Defense Spending
Elon Musk, known for his outspoken criticism of the F-35 program, could play a pivotal role in shaping the future of defense spending. His advocacy for cost-effective solutions may influence budgetary decisions for the NGAD program, potentially leading to more efficient allocation of resources.
For Boeing, securing the NGAD contract represents a critical opportunity to regain momentum in the defense sector. The company is actively positioning itself to capitalize on this program, which could serve as a catalyst for future growth.
Boeing’s efforts to innovate and adapt to changing defense needs are reflected in its strategic initiatives, including collaborations with tech firms and investments in research and development.
Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
About the author
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird’s US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
