U.S. Air Force set to unveil new generation of stealth bombers (NYSE:NOC)

It’s a bird, it’s a plane… Wait! Where did it go? The U.S. Air Force on Friday will unveil the most advanced aircraft on the planet and its first stealth bomber in over three decades. The B-21 Raider, built by Northrop Grumman (NYSE:NOC), has been in development since 2015 after the defense giant won a contract to design and produce the plane. Currently, six bombers are being built in Palmdale, California, at cost of around $2 billion per aircraft, which are expected to begin flying in 2023.

What we know so far: The Air Force has called the B-21 a sixth-generation aircraft, meaning it would likely surpass the flying technology of its newest combat fighter, the F-35, which entered service in 2015. It’s set to replace the ageing B-1 and B-2 bomber (also designed by Northrop), to become the “backbone” of the U.S. Air Force bomber fleet. The Raider will also be significantly cheaper maintain, requiring less money, maintenance and resources to keep it airworthy.

Investors will get more details later today, but the plane is expected to be dual-capable, meaning it can launch nuclear or conventional bombs and missiles. “Open architecture” will allow for easier and quicker upgrades, in addition to new stealth features and materials. Reports also suggest that it has the potential to fly autonomously without a crew, and can transmit and share vast amounts of data to make it a strategic offensive or defensive weapon.

Fun fact: The B-21 Raider is named in honor of the Doolittle Raid in 1942, when 80 airmen, led by Lt. Col. James “Jimmy” Doolittle, and 16 B-25 Mitchell medium bombers set off on a mission that changed the course of World War II. The actions of the 80 volunteers were instrumental in shifting momentum in the Pacific theater, with the raid being marked as a catalyst for future progress in U.S. air superiority from the land or the sea.