Pentagon, Lockheed announce agreement for 850 F-35 jets over 10 years

The Pentagon and Lockheed Martin have jointly announced a 10-year agreement for the production of 850 F-35 stealth warplanes, highlighting the United States' enduring commitment to the advanced aircraft. Lockheed Martin Chairman, President, and CEO Jim Taiclet stated that this framework agreement secures the fighter jet's position as the key frontline fighter for the free world in the years to come.

The F-35, which Washington's forces have utilized in combat during the US-Israeli war against Iran, comes in three versions that can cost over $100 million per plane. The deal, which requires congressional approval and funding, aims to modernize and expand the F-35 program, ensuring the American defense industrial base is boosted for speed and scale.

Michael Duffey, a top acquisition official at the Pentagon, emphasized that aligning financial incentives with actual performance will ensure that warfighters are equipped with the lethal capabilities they need to fight and win. The F-35, a joint project between the United States and several allies, is one of the world's most sophisticated military aircraft, with over 1,375 jets stationed across the globe.

If approved, the agreement would provide Washington with a predictable, affordable, and resilient fighter jet program, potentially saving billions of dollars thanks to long-term pricing and industry volume discounts. In exchange for the Pentagon's 10-year commitment, Lockheed Martin will invest $7 billion in projects supporting the F-35s, including initial spares, 10 years of modification kits and sustainment, and international customer orders.