Boeing's stock surged on Friday following the announcement by President Donald Trump that the company had won the contract to manufacture the next-generation F-47 fighter jet for the U.S. Air Force. On the other hand, Lockheed Martin's shares dropped nearly 6% after losing out to Boeing in the bidding process. Although the financial details of the contract were not disclosed, experts estimated that the total costs for research, development, and acquisition could exceed $50 billion.

President Trump revealed Boeing as the chosen contractor for the Next Generation Air Dominance (NGDA) program, highlighting the rigorous competition among top aerospace companies. Boeing's Defense, Space & Security CEO, Steve Parker, emphasized the significance of delivering a 6th-generation fighter capability to the Air Force, stating that Boeing had made a substantial investment in preparing for this project.

Lockheed Martin, a major defense contractor, was disappointed by the outcome but expressed confidence in the competitiveness of its proposal. The company, known for supplying the Air Force with F-22 Raptor and F-35 fighter jets, will await further discussions with the U.S. Air Force regarding the contract.