Lockheed Martin shares rose ahead of the fighter jet announcement.

Lockheed Martin (NYSE:LMT) shares rose by 2.25% as the White House is expected to make a significant announcement regarding the next-generation fighter jet contract. Investors appear optimistic while awaiting the decision on which company, Lockheed Martin Corp. or Boeing Co., will secure the advanced fighter jet production deal. According to Bloomberg News, the winning firm will be announced on Friday.

The surge in Lockheed Martin's stock reflects investor confidence ahead of this announcement, which comes nearly two years after the Air Force issued a formal request for proposals for the Next Generation Air Dominance (NGAD) manned fighter jet's full-scale development phase. The program, set to fly alongside classified, separately developed drones, may see a $16 billion research and development budget by 2028, based on the fiscal year 2025 budget estimates. Investors and industry experts are closely monitoring the statements from President Donald Trump and Defense Secretary Pete Hegseth, as the selected contractor's performance may significantly impact business and stock performance.