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Trump says allies calling about new US fighter jets
The Star
Follow
3/22/2025
US President Donald Trump said American allies had been calling about the new generation fighter jets the US will be getting in the next few years.
Shares of Boeing rose 5% after the company beat out Lockheed Martin for the deal to make the jets.
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00:00
We're confident that it massively overpowers the capabilities of any other nation.
00:05
U.S. President Donald Trump said American allies had been calling about the new generation
00:10
fighter jets the U.S. will be getting in the next few years.
00:13
Trump hinted that foreign sales of the jets could be an option during an announcement
00:17
of the Next Generation Air Dominance Program contract being awarded to Boeing on Friday.
00:24
Our allies are calling constantly, they want to buy them also and certain allies will be
00:31
selling them, perhaps toned down versions.
00:33
We like to tone them down about 10 percent, which probably makes sense because someday
00:39
maybe they're not our allies, right?
00:41
The sixth generation fighter jets, dubbed the F-47, will be the most sophisticated jets
00:48
ever built for the U.S.
00:50
The Next Generation Air Dominance Program will replace Lockheed Martin's F-22 Raptor
00:55
jets with the new aircraft built to enter combat alongside drones.
00:59
The contract win marks a reversal of fortune for Boeing that has struggled on both the
01:03
commercial and defense sides of its business.
01:07
The engineering and manufacturing development contract, which is said to be worth more than
01:11
20 billion U.S. dollars, will be a major boost for its fighter jet production business in
01:17
St. Louis, Missouri.
01:19
Analysts said such contracts come around only once every 50 years, which will be profitable
01:25
to Boeing, even though there might be some short-term disruptions.
01:29
The Boeing company has struggled with its commercial aviation business, its space business
01:35
and its major defense franchises.
01:36
So this is an opportunity to really reboot or revitalize those defense contracts, particularly
01:44
a number of which have been losing money for several years.
01:49
The one thing I would say, though, this is a development contract.
01:52
It will be challenging.
01:53
I think many assume it is a cost-plus contract, so there should be some protection on the
01:58
downside for the company.
02:00
But it likely also includes some fixed-price contracts for low-rate initial production,
02:05
which is an area that Boeing, as well as others in the industry, have struggled with.
02:09
So it certainly brings a great opportunity, but there are also some perils with it.
02:14
In a statement, Lockheed Martin said while disappointed with the outcome, the company
02:19
is confident that it had delivered a competitive solution, and it will await further discussions
02:24
with the U.S. Air Force.
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