Pentagon and Lockheed Martin Agree to Produce 850 F-35 Fighter Jets

The Pentagon and Lockheed Martin announced a ten-year agreement to produce 850 F-35 fighter jets. This framework agreement aims to modernize and expand the F-35 Lightning II Joint Strike Fighter program, pending congressional approval and necessary funding. The F-35, developed jointly by the United States and its allies, is among the most advanced military aircraft globally, with over 1,375 units deployed worldwide. The company noted that, if approved, the deal will provide a program with predictable costs, flexibility, and cost-effectiveness, expecting significant savings due to long-term pricing and volume-based discounts. In return, Lockheed Martin will invest about $7 billion in projects supporting the F-35 fleet, backed by a ten-year commitment from the Pentagon. Michael Duffy, the Pentagon's acquisition chief, stated this move represents a fundamental change in strengthening the U.S. defense industrial base, enabling rapid and large-scale production. He added that aligning financial incentives with actual performance ensures delivering lethal capabilities needed by the forces to win battles. The company also committed to producing 156 F-35 jets annually under this agreement.