Boeing won a contract March 21 to develop a next-generation combat aircraft for the U.S. Air Force that will spearhead future air wars and throw a lifeline to the company’s struggling military aviation business.

Boeing won the right to produce America's next-gen fighter. This piece goes deep into what it means for the company's future.

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%.