The Pentagon announced that it has signed an additional $12.5 billion contract with Lockheed Martin for the production of approximately 300 new F-35 Joint Strike Fighters. This contract amendment significantly increases the total value of the F-35 program.
According to a statement from the U.S. Navy, this contract will finalize the production of 148 F-35s from Lot 18 and will also allow for the production and delivery of an additional 148 fighter jets from (Lot 19).
Total Contract Value Reaches $24.3 Billion
This new $12.5 billion announcement, made on Monday, was added to the original Lot 18 and Lot 19 contracts, valued at $11.8 billion, which were announced in December 2024. Consequently, the total value of F-35 production covering Lots 18 and 19 has risen to approximately $24.3 billion.
Lockheed Martin stated that it will primarily manufacture these jets at its facility in Fort Worth, Texas, and will begin deliveries next year. The company also emphasized that the price increase per jet will be lower than the inflation rate.
Chauncey McIntosh, Lockheed’s vice president and general manager of the F-35 program
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said the following about the contract:
“The F-35 Lot 18-19 contract demonstrates continued confidence in the most cost-effective and capable fighter aircraft in production today. We are proud to support our customers and further solidify the F-35’s role in securing peace through strength.”
Global Operations and Additional Support Contracts
Currently, 12 countries—including the United States, South Korea, and Israel—are actively operating more than 1,230 F-35 aircraft in service.
Among other contracts announced by the Pentagon on Monday were additional agreements for the F-35 program’s supply chain and technological upgrades:
Under a$101 million cost-plus-fixed-fee contract, F-35 partsthat may face shortages or dwindling production resources will be procured in advance.
Another contract, worth$137 million, will fund engineering changes to the 17th lot of the F-35 and aim to reverse the decline in production resources.
Lockheed was also awarded an additional $11.6 million contract to redesign a sensor circuit board assembly by July 2027.
