<\/p>\n
Boeing (BA) investors were fixated on two stories in May. <\/p>\n
One was a long-delayed jet order from China. The other was a slow climb in 737 production.<\/p>\n
A third development landed on June 1 but didn\u2019t make nearly as much noise. Boeing said its MQ-28 Ghost Bat drone had cleared a key stealth test.<\/p>\n
Boeing\u2019s stock usually moves on commercial news, while its defense projects get far less attention. But this time, it earned a closer look.<\/p>\n
Boeing validates MQ-28 Ghost Bat stealth performance<\/p>\n
Boeing confirmed that its MQ-28 Ghost Bat passed radar cross-section testing, a check that measures how easily an aircraft can be spotted by enemy radar.<\/p>\n
More Boeing coverage:<\/p>\n
China deal paradox: Why Boeing tripped on a big new plane orderFresh China deal gives hope for whipsawed Boeing sharesBoeing CEO signals a new FAA move for 737 jets<\/p>\n
A lower radar cross-section shrinks the range at which an enemy can detect and engage the aircraft, which lifts its odds of surviving a contested mission.<\/p>\n
\u201cThe combination of a highly capable platform, stealth features, and advanced autonomy provides unprecedented ability for air forces to extend their mission effectiveness and operational flexibility,\u201d said Brad Thompson, who leads Phantom Works Australia.<\/p>\n
Boeing\u2019s MQ-28 Ghost Bat cleared radar cross-section testing, the company confirmed on June 1, 2026.<\/p>\n
Kevin Carter / Getty Images<\/p>\n
What is the Ghost Bat and why does Australia keep paying for it<\/p>\n
The Ghost Bat is a \u201cloyal wingman,\u201d an un-crewed jet built to fly beside crewed aircraft and take on the riskiest parts of a mission.<\/p>\n
Boeing began developing it in 2017, flew it for the first time in 2021, and has now logged more than 150 flights, the company said.<\/p>\n
Australia keeps writing checks. <\/p>\n
Boeing Defence Australia booked an AUD$754 million third tranche in December, Breaking Defense reported, lifting total Australian funding above AUD$1 billion.<\/p>\n
Related: Citi calls Boeing selloff a ‘gift,’ resets stock price target<\/p>\n
The program has already proven it can fight. An MQ-28 fired an AIM-120 missile and destroyed an aerial target at Woomera, Australia\u2019s Department of Defence confirmed.<\/p>\n
That record is why Boeing calls it the most mature collaborative combat aircraft in allied service, a claim Shephard Media has echoed.<\/p>\n
Why the market is looking the other way<\/p>\n
The China order dominated the headlines. <\/p>\n
China\u2019s Commerce Ministry confirmed a 200-jet purchase, CNBC reported, Boeing\u2019s first major Chinese deal in nearly a decade.<\/p>\n
Investors had braced for closer to 500 jets, so the smaller figure knocked shares lower even as the news counted as a win.<\/p>\n
The 737 ramp is the other magnet. Boeing is lifting monthly output from 42 jets toward 47 this summer, and the Street treats that cadence as the main driver.<\/p>\n
Against those two stories, a drone stealth test in Queensland struggles for attention.<\/p>\n
The defense numbers investors are skipping<\/p>\n
Boeing\u2019s defense unit is quietly turning.<\/p>\n
Boeing\u2019s first-quarter defense scorecard:<\/p>\n
Defense revenue rose 21% to $7.6 billion.Segment earnings climbed 50% to $233 million.Defense backlog hit a record $86 billion, with 27% from outside the U.S.
\nStocks: Boeing\u2019s first-quarter earnings release.<\/p>\n
That contrast matters. <\/p>\n
Commercial Airplanes still ran an operating loss in the quarter, while defense made money. <\/p>\n
The Ghost Bat sits inside the part of the business that already earns a profit, and export interest is building. Boeing has agreed to pitch the drone to Germany with Rheinmetall.<\/p>\n
What still must happen for the Ghost Bat to move BA stock<\/p>\n
The Ghost Bat program is tiny next to Boeing\u2019s $695 billion total backlog, which is the value of all the orders Boeing has won but not yet delivered. <\/p>\n
One stealth test is good news, but it\u2019s too small to shift the share price or change the investment case by itself.<\/p>\n
The bigger catalysts are export orders and a U.S. selection. <\/p>\n
The U.S. Air Force picked rival drones from Anduril and General Atomics to build production-representative prototypes for its Collaborative Combat Aircraft (CCA) program, DefenseScoop reported. <\/p>\n
That leaves Boeing needing to win new export orders for the Ghost Bat from allied militaries to grow the program.<\/p>\n
For investors, that makes the stealth milestone a long-term play rather than a near-term catalyst. <\/p>\n
Wall Street\u2019s average price target sits near $270, roughly 20% above recent levels, according to StockAnalysis.com, with the bull case still resting on the 737 and 787 ramps.<\/p>\n
The defense progress is the cushion under that thesis, and it is the piece that most of the market is not pricing yet.<\/p>\n
Related: History of Boeing: Company timeline and facts<\/p>\n
#Boeing #hits #stealth #milestone #investors #overlooked<\/p>\n","protected":false},"excerpt":{"rendered":"
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