Defense Department and Lockheed Martin Sign 10-Year F-35 Deal
The U.S. Department of Defense and Lockheed Martin agreed to a 10-year framework to procure at least 850 F-35 Lightning II jet fighters.
The United States Department of Defense and Lockheed Martin announced a 10-year framework agreement on Thursday to procure F-35 Lightning II jet fighters. The deal guarantees the purchase of at least 850 aircraft for the U.S. military, in addition to hundreds of jets for international customers, spare parts, and modification kits.
Under the terms of the agreement, Lockheed Martin will self-fund $7 billion in investments to support long-term production, with the goal of reaching an annual output of 156 jets. The framework aims to stabilize the defense industrial base and increase procurement efficiency by providing suppliers with long-term visibility.
While the agreement establishes a strategic path forward, it remains a framework rather than a final contract. The final execution is subject to congressional authorization and the allocation of tens of billions of dollars in funding.
