By Mwangi Enos

A fresh military contract just might signal momentum and stability for Boeing (BA). The U.S.-based multinational that designs and builds airplanes, helicopters, rockets, satellites, and missile systems for customers around the world also offers leasing and support services for its products.

Boeing ranks among the largest aerospace manufacturers globally and is one of the top defense contractors by revenue, as well as the biggest exporter in the United States by value.

Founded in 1916 by William E. Boeing in Seattle, the 100-year-old multinational, has evolved into its current form after merging with McDonnell Douglas in 1997. As of May 2022 to date, its headquarters is located in the Crystal City area of Arlington County, Virginia.

Fast forward, the aerospace giant just landed a new deal with the U.S. Air Force, adding to what has already been a busy year of major orders and operational recovery. Boeing (BA) stock, trading around $208 according to Yahoo Finance, has gained solid ground over the past year, rising more than 50%.

But this latest win isn’t just about the dollar value. It comes at a time when Boeing is rebuilding trust, stabilizing production, and trying to prove its long-term growth story is back on track.

Boeing wins new Air Force contract for KC-46 support

Boeing just secured a $101.29 million contract tied to its KC-46 tanker program, a key part of its defense business.

The deal, awarded by the U.S. Air Force, covers repair parts and support services under a one-year agreement funded through fiscal 2026–2027 budgets. The work is expected to run through April 6, 2027, with the Defense Logistics Agency Aviation overseeing the contract.

Related: Boeing faces new threat as Iran war raises pressure

So why does this matter? While $101 million may not move the needle compared to Boeing’s massive commercial deals, it reinforces steady defense revenue streams, continued reliance on Boeing’s military platforms, and long-term support contracts that add predictable cash flow.

And in a volatile global environment, defense stability can be just as valuable as big commercial wins.

Christopher Pike/Bloomberg via Getty Images

Boeing also has a rich list of the latest deals

This latest contract is just one piece of a much larger trend. So far in 2026, Boeing has been on a deal-making streak, and some of these agreements are massive.

Here are a few highlights:

• Korean Air approved a $36 billion order for 103 aircraft (777-9, 787-10, 737-10, and 777-8F), with deliveries running through 2039, according to Reuters.

• Air Astana finalized its largest-ever deal for up to 15 787-9 Dreamliners, expanding its long-haul fleet to 18 aircraft, including leased units

• Ethiopian Airlines maintains a landmark commitment for up to 67 jets, including 787 Dreamliners and 737 MAX, the largest order by an African airline

• Chinese carriers are reportedly considering a massive order of up to 500 737 MAX jets, potentially Boeing’s biggest China deal in nearly a decade, as reported on Investing.com

• Defense segment: United States Air Force awarded contracts for E-4B support and T-38C avionics upgrades in 2026

• Services segment: Boeing announced its largest-ever landing gear exchange program at the Singapore Airshow

These deals point to one clear fact: Demand for new aircraft is coming back fast.

Why now? Airlines are modernizing fleets, expanding long-haul routes, and preparing for future travel demand. And Boeing is positioning itself right at the center of that recovery.

Boeing also reported strong fourth-quarter results

The company’s latest financial results, reported on January 27, 2026, suggested it’s heading in the right direction.

In its fourth-quarter 2025 report, Boeing posted:

• Revenue of $23.95 billion (up 57% year-over-year)

• GAAP earnings per share of $10.23 (boosted by a non-operating gain), with core EPS (non-GAAP) at $9.92, beating expectations

• Positive free cash flow turned positive in 2025 at $1.06 billion, recovering from a $12 billion loss in the previous year.

For the full year, revenue reached $89.5 billion, a 34% increase year-over-year. Boeing also delivered 600 commercial aircraft, its highest total since 2018.

Even more striking, Boeing’s backlog has surged to a record $682 billion, including more than 6,100 airplanes. That backlog acts as a long-term revenue pipeline and a signal of strong future demand.

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"We made significant progress on our recovery in 2025 and have set the foundation to keep our momentum going in the year ahead," said Kelly Ortberg, Boeing president and chief executive officer.

The company’s next earnings report is scheduled for April 22, which could offer more insight into whether this momentum is continuing.

Boeing's stock performance shows a 50% 1-year return

From a market perspective, according to Yahoo Finance, Boeing’s recovery is becoming more visible.

Here’s how it stacks up against the S&P 500 as of April 7, 2026:

• Up 51.23% over the past year, outperforming the S&P 500’s 30.71% gain

• Down 3.28% year-to-date, lagging the S&P 500’s 3.34% rise

• Slightly down 0.65% over three years, versus the S&P 500’s 61.19% surge

• Down 16.86% over five years, compared to the S&P 500’s 62.18% gain

The data shows Boeing’s recovery is gaining traction in the near term, especially over the past year, where it has clearly outperformed the broader market. However, the year-to-date pullback suggests some recent pressure, while the three- and five-year figures show how far the company still has to go to fully catch up.

So, what’s driving the recent strength, and what comes next?

Boeing is gaining momentum, supported by rising aircraft deliveries, major contract wins, improved financial performance, and renewed investor confidence.

Recent moves, including the acquisition of Spirit AeroSystems, stabilizing 737 MAX production, and ramping up 787 output, show a clear push toward tighter production control and consistency.

More Airlines:

• American Air launching 15 new summer routes between U.S. cities

• Low-cost airline will launch new flight to South Korea from US

• American Airlines joins the Spirit Airlines bankruptcy case

Looking ahead, the focus shifts to execution. Key things to watch next include delivery timelines, margin improvement, and continued deal flow, alongside updates from upcoming earnings.

While risks around production stability and global demand remain, Boeing’s recovery story is increasingly defined by steady progress. Deal by deal, delivery by delivery

Related: UBS Resets 2026 S&P 500 target

This story was originally published by TheStreet.

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