Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: One Israeli soldier killed in a "security incident" in Khan Younis, south of the Gaza Strip
Israeli media: Intense exchange of fire in Khan Younis
Israeli media platform reports on a tough incident in Gaza still under media censorship
Iran's judiciary says 71 killed in Israeli strike on Evin Prison
Trump: Make the deal, get the hostages back
Al Mayadeen's correspondent: 67 Palestinians were martyred in 24 hours in the Israeli aggression on the Gaza Strip
Israeli media: For the first time, Prime Minister Netanyahu is signaling that he wants to end the war on Gaza
Israeli Channel 12, citing an American source: We want to have entered a path toward captive release and a ceasefire before Netanyahu arrives in Washington
Lebanese Ministry of Health: One martyr and two injured in the Israeli airstrike that targeted a motorcycle in the town of Mahrouna
Al Mayadeen correspondent to Southern Lebanon: An Israeli drone strike targeted a vehicle between the towns of Jwayya and Mahrouna.

Pentagon, Lockheed Martin agree on $30 bln F-35 jet deal

  • By Al Mayadeen English
  • Source: Agencies
  • 19 Jul 2022 09:38
2 Min Read

The US Department of Defense reached an agreement with Lockheed Martin Corp to buy approximately 375 F-35 fighter jets over three years, amid expectations of a price increase for the most common version of the jet.

  • x
  • US F-35 fighter jets
    US F-35 fighter jets

The Pentagon and Lockheed Martin have agreed on the prices and quantities of new F-35 fighter jets that will be purchased over the next three years as per a company spokesperson.

On Monday, US media reported that the Pentagon and Lockheed Martin had reached an agreement worth approximately $30 billion for 375 F-35 fighter jets.

In a statement, a company spokesperson said later, on Monday, that "through a collaborative effort with the F-35 enterprise, including the Joint Program Office, suppliers, and teammates, we have successfully reached an agreement on Lots 15 through 17." 

"In the midst of continued COVID-19 impacts and decreased F-35 quantities, the F-35 enterprise was able to achieve a cost per jet lower than record-breaking inflation trends," the spokesperson added.

Final prices, the number of F-35 jets to be sold, and which countries will purchase the aircraft will be disclosed when the agreement is officially inked, according to the spokesperson.

Related News

China is set to launch first commercial flight on its C919 plane

The handshake agreement comes as the aviation industry gathered for the return of the Farnborough Airshow, hoping for a show of confidence following the devastation of COVID-19.

Lockheed began to warn that the cost of the jet would rise as economies of scale dwindled and supply chains faltered. 

A pre-pandemic forecast for this three-year purchase indicated that 485 jets could be included, but the 22 percent volume reduction would undoubtedly affect the overall cost of the F-35A, the most common version of the jet.

A previous three-year "block buy" signed by the Pentagon in 2019 was for 478 F-35 fighter jets, allowing Lockheed to buy larger quantities of components, reducing costs by about 8%, to $34 billion.

According to Lockheed executives, any country with an F-16 jet, the F-35's predecessor, is a potential customer.

It is worth noting that foreign military sales, such as the F-35, are classified as government-to-government transactions in which the Pentagon serves as an intermediary between the defense contractor and a foreign government.

The F-35 jet program accounts for approximately 27% of Lockheed's revenue.

  • Lockheed Martin Corp
  • Pentagon
  • US
  • fighter jets
  • aviation industry

Most Read

Iranian President Masoud Pezeshkian attends a protest following the US attacks on nuclear sites in Iran, in Tehran, Iran, Sunday, June 22, 2025. (AP)

Iran declares victory as ceasefire forces Israeli retreat

  • Politics
  • 24 Jun 2025
Iran launches strikes on Israeli targets, despite alleged ceasefire

Iran victorious as ceasefire with 'Israel' takes effect

  • Politics
  • 24 Jun 2025
The site of a direct missile strike launched from Iran in Tel Aviv on Sunday, June 22, 2025. (AP)

Op. True Promise 3, wave 21: Multi-warhead missiles rain on 'Israel'

  • Politics
  • 23 Jun 2025
Iran says targeted US Qatar air base under Op. Annunciation of Victory

Iran says targeted US Qatar air base under Op. Annunciation of Victory

  • MENA
  • 23 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli media: Iran struck sensitive bases; only a fraction revealed
Politics

Only a fraction of Iranian missiles impact revealed: Israeli media

Pro-Palestinian protest in Sydney ends in crackdown, serious injury
Politics

Pro-Palestine Sydney protest ends in violent crackdown, serious injury

Israeli soldiers
Palestine

IOF soldiers blame army for negligence after deadly Khan Younis ambush

Corsican Assembly recognizes Palestine, condemns Israeli genocide
Politics

Corsican Assembly recognizes Palestine, condemns Israeli genocide

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS