Tens of thousands of striking Boeing machinists will vote this week on a new contract proposal that could end weeks of work stoppage at the troubled aerospace company.

Last month, workers overwhelmingly rejected an earlier offer, leaving the outcome of the upcoming vote uncertain.

The new offer calls for a 35% increase over the four-year contract period, exceeding the 25% cumulative increase provided for in the previous offer, said the International Association of Machinists and Aerospace Workers (IAM), the union that represents 33,000 Boeing workers . However, the offer falls short of workers’ demand for a cumulative 40% wage increase.

The proposal also increases Boeing’s contribution to a 401(k) plan but declines to address workers’ demands to reinstate the company’s defined pension.

Experts who spoke to ABC News said the new contract has a good chance of retaining a majority of union membership, citing an improved deal as well as the financial pain felt by workers and companies in the wake of the dispute.

But they warned that it was difficult to predict how workers would react amid a heated, high-stakes standoff.

“This is a much better deal than we’ve seen from Boeing,” Henry Harteveldt, travel industry analyst at Atmosphere Research Group, told ABC News. “It doesn’t get workers everything they want, but it gets them closer.”

In response to ABC News’ request for comment, a Boeing representative referred to a statement posted on the company’s website Saturday that said, “We look forward to our employees voting on the negotiated proposal.”

IAM did not immediately respond to ABC News’ request for comment. In a statement posted online, the union said, “With the help of Acting U.S. Secretary of Labor Julie Su, we have received a negotiated proposal and resolution to end the strike that must be presented to members and is worthy of your consideration.”

The company and its workers have suffered financial losses as a result of the five-week strike.

Union members received $250 a week from a strike fund starting the third week of the work stoppage. This compensation represents a significant pay cut for many employees.

Mid-level workers involved in the strike typically earn $20 per hour, totaling $800 per 40-hour week, while higher-paid members earn salaries of more than $100,000 per year, or nearly $2,000 -Earn dollars per week

“A strike can change your perspective,” Art Wheaton, director of labor studies at Cornell University’s Worker Institute, told ABC News. “Treaty proposals can start to look good compared to standing on the picket line in the cold for another month or two.”

Meanwhile, the strike is expected to cost Boeing $108 million a day in lost sales, which would equate to a loss of up to $5.5 billion if the work stoppage lasted 50 days, investment bank TD Cowen said in a report obtained by the ABC News had checked the dispute at the beginning. So far the strike has lasted 38 days.

In September, Boeing announced furloughs and pay cuts for some employees in response to the strike. Last week, Boeing CEO Kelly Ortberg announced plans to cut 17,000 jobs, representing about 10% of the global workforce.

“This is a wake-up call for the base,” Jake Rosenfeld, a professor of sociology at Washington University in St. Louis who studies labor, told ABC News. “The company they are striking against makes it clear that they are not doing well.”

Still, some workers may view the company’s recent concessions, as well as its financial woes, as evidence of union influence that could enable better wages if the strike continues, Richard Aboulafia, managing director of aerospace consulting firm AeroDynamic Advisory, told ABC News.

“They have more power than they have in decades to accomplish things that may or may not be realistic, and that is the biggest risk,” Aboulafia said. “They have a big influence.”

The last IAM attack against Boeing in the Pacific Northwest in 2008 lasted 57 days. Work stoppages by unionized Boeing employees in the same region have historically lasted an average of 60 days. This was revealed by an analysis by Bank of America Global Research after examining seven previous strikes, the earliest in 1948.

Workers will vote in a ratification vote on Wednesday. If a majority of workers support the proposal, the contract is accepted and the strike ends.

Shares of Boeing rose as much as 5% in early trading Monday, suggesting many traders expect workers to ratify the deal.

“That doesn’t make it the right view,” Aboulafia said, pointing out that it is difficult to gauge the mood of striking workers.

“They get a lot of what they want,” he added. “The question is how many of them are happy with it.”