U.S. President Donald Trump awarded Boeing on Friday the contract to build the U.S. Air Force's most sophisticated fighter jet yet, handing the company a much-needed win and boosting its shares. The Next Generation Air Dominance program will replace Lockheed Martin's F-22 Raptor with a crewed aircraft built to enter combat alongside drones.

Shares of Boeing rose nearly 5% after the U.S. company beat out Lockheed Martin LMT.N for the deal. Lockheed's shares fell nearly 7%.

Boeing won a contract to design and build the U.S.’s next-generation stealth fighter jet, beating out rival Lockheed Martin Corp. for the multibillion dollar program aimed at preparing the