F-35 Program Acquisition Costs Rise to $536 Billion

Lockheed Martin Corp. saw the acquisition cost of its F-35 program rise by approximately $51 billion, or 10 percent, since late 2023. This increase brings the total acquisition estimate to $536 billion, though the total program cost—including decades of operations and support—is projected at approximately $2 trillion.

A government report and the program office attribute the cost jump to software upgrades, readiness improvements, spare parts, and engine power enhancements. Specifically, the increase includes $32 billion for aircraft and engine procurement and $19 billion for research and development involving Pratt & Whitney engines.

Additional expenses stem from the production of a classified radar by Northrop Grumman Corp. and a shift in Marine Corps procurement toward the more expensive F-35C carrier model. The Government Accountability Office listed the F-35 as one of several "Wasteful Programs" in a June report.