Updated Boeing stock forecast models project positive free cash flow in FY2024, improving dividend reinstatement prospects. Other aerospace defense companies that are likely to reap the benefits of the military aviation market are listed below: Northrop Grumman Corp. NOC: It is a leading provider of manned and unmanned air systems. It builds some of the world’s most advanced aircraft like the E-2C Hawkeye 2000, A-10 Thunderbolt II, F-5 Tiger Fighter Jet and many more. In September 2025, NOC and Wojskowe Zak??ady Lotnicze signed a Memorandum of Understanding to strengthen allied industrial cooperation and advance Poland’s national defense capabilities through the E-2D Advanced Hawkeye, promoting NATO interoperability and joint operational readiness. Lockheed Martin Corp. LMT: The company is among the leaders in the combat aircraft space, with its product portfolio constituting some of the most advanced military aircraft, such as the F-35 Lightning II, F-21, F-22 Raptor, F-16 Fighting Falcon and a few more. In September 2025, LMT’s unit Skunk Works introduced Vectis, a Group 5 survivable and lethal collaborative combat aircraft to advance unparalleled air dominance for American and allied militaries. Embraer S.A. ERJ: The company offers a comprehensive portfolio of the most advanced aircraft in the combat market, which includes the A-29 Super Tucano, P600 AEW&C and the C-390 Millennium military multi-mission aircraft. In September 2025, ERJ and Panama finalized a contract for the acquisition of four A-29 Super Tucano aircraft. The fleet will be operated by the Panamanian National Air and Naval Service as a new platform for surveillance and national protection. Over the near to medium term, there's every reason to think the company can. As long as Boeing continues to execute on the three areas discussed above, the narrative should remain positive, particularly when compared to the prevailing pessimism surrounding the company going into 2025. It's climbing a wall of worry, and as long as Ortberg can demonstrate progress on its key and near-term objectives, the stock is likely to receive support. Analysts maintain a “buy” rating with a 12-month target near $200.