DefenseLockheed Martin Secures $24.3 Billion Deal for 296 F-35 Fighters
Lockheed Martin and the F-35 Joint Program Office have finalized a $24.3 billion contract for the production of 296 F-35 fighter jets. The agreement encompasses two production batches, known as Lot 18 and Lot 19, with 148 aircraft scheduled in each. Deliveries under the new deal are expected to begin in 2026.
The value for Lot 18 alone stands at approximately $12.5 billion, which is supplemented by a previously signed agreement worth $11.8 billion. The average unit price of the F-35s within this contract is around $82.4 million, not including the engines. Pratt & Whitney, a subsidiary of RTX, will supply the F135 engines under a separate contract.
Negotiations for this large-scale procurement extended over nearly two years. Of the 296 aircraft, 210 are the conventional takeoff and landing F-35A variant, 52 are the short takeoff and vertical landing F-35B, and 34 are the carrier-based F-35C.
The finalized contract follows a period of scrutiny and debate regarding the F-35 program’s cost and capabilities.
The agreement comes just months after controversies raised during the Trump administration, which expressed doubts about the F-35’s operational effectiveness.
Notably, former Trump advisor and billionaire Elon Musk described the stealth fighter as both obsolete and expensive. These criticisms brought renewed attention to the program’s budget and performance, making the conclusion of this contract a significant development for the ongoing production of the F-35.
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