Ferritic steels have been shown to swell much less than 316 austenitic stainless steel. For this reason ferritic steels are being considered for fusion reactor applications as an alternative to 316 austenitic stainless steel. A lifetime analysis based on crack propagation has been done for ferritic steel using typical first wall parameters. The results for ferritic steel are compared to results from a similar analysis done for 316 austenitic stainless steel. The comparison shows that ferritic steels have lower thermal stresses than 316 austenitic stainless steel by a factor of about 2. Because of the lower thermal stresses, the cyclic stresses resulting from the plasma-on/plasma-off cycles are reduced and the predicted fatigue crack growth rate is less for ferritic steels. The analysis predicts a lifetime more than 10 times longer for ferritic steel than for 316 austenitic stainless steel. The comparison clearly shows the great potential of ferritic steel over 316 austenitic stainless steel as a first wall material to achieve the high wall loading desired for future fusion reactors.