In late December 2025, Boeing’s Defense, Space & Security unit captured two headline Pentagon awards totaling $12.8 billion: a $4.2 billion contract to provide E-4B airborne command post logistics support through September 30, 2026, and an $8.6 billion sale for 25 F-15IA fighters to Israel, with an option for 25 more. These awards, combined with subsequent wins—a $2.7 billion Apache helicopter support deal and a $2 billion B-52 engine replacement order—could push Boeing’s intake to $17.5 billion in just over a week. These four contracts alone represent roughly 73% of 2024 revenue for BDS, underscoring the segment’s growing importance as Boeing’s commercial aircraft division continues to post annual losses.

A source familiar with Boeing’s certification campaign confirmed the Federal Aviation Administration has approved the 737 MAX 10 for transition into its second phase of flight testing, marking a critical step toward full certification. This move follows extensive ground tests of the jet’s stretched fuselage and modified landing gear, and comes with new stipulations on flight-control software refinements and revised stall-protection procedures. Completion of this phase is expected by mid-2026, though Boeing must still address manufacturing bottlenecks and supply-chain challenges before commencing commercial deliveries.

Equity analysts note that while Boeing’s commercial aircraft segment remains under pressure, the robust defense backlog and growth in Boeing Global Services (BGS) provide offsetting strength. BGS logged $15.7 billion in parts, maintenance and logistics revenue in 2025, achieving an 18.6% operating margin—more than nine times the margin of the BDS segment. With defense awards scheduled to recognize revenue over multiple years and services contracts renewing automatically, analysts project that investors focused on margin expansion and cash-flow stability may find Boeing’s defense and services businesses more compelling than near-term commercial deliveries.