Mega deal: How the US Army will receive 850 advanced stealth jets

The Pentagon and Lockheed Martin announced a ten-year framework agreement for the procurement of at least 850 F-35 aircraft for the US military, including spare parts, upgrades, and maintenance. The company will fund initiatives worth at least $7 billion. The production rate will be 156 aircraft per year. The agreement is contingent on congressional approval.

The Pentagon and Lockheed Martin have announced a ten-year framework agreement for the procurement of at least 850 F-35 aircraft for the United States military. The agreement includes initial spare parts, upgrade kits, and maintenance services for the global fleet. In exchange for the long-term commitment, Lockheed Martin will fund initiatives worth at least $7 billion from its own resources. US Under Secretary of Defense Michael Duffy said the agreement demonstrates a fundamental change in how the defense industry is stabilized. Implementation of the framework is contingent on congressional approval for multi-year procurement. The total production rate will be maintained at 156 aircraft per year, and the framework also includes orders from customers outside the US. Lockheed Martin Chairman and CEO Jim Taiclet said the certainty will allow investment in expanding production capacity. The program will support over 315,000 jobs and generate economic activity worth nearly $80 billion over the next decade. Israel committed last May to purchasing a fourth squadron of F-35s and a second squadron of F-15IAs.