Lockheed Martin is on the cusp of a landmark deal to supply the US military with at least 850 more F-35 fighter jets, reinforcing the stealth aircraft's role in America's future airpower.
The proposed agreement, still under negotiation, would be the largest in the programme's 25-year history.
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The Pentagon said the 10-year framework would encompass jet manufacturing, spare-parts supplies, upgrade kits and long-term maintenance of the worldwide F-35 fleet.
The Pentagon has not disclosed the deal's value, though each F-35 costs about $100 million, with the final price depending on the contract's scope and support provisions.
Under the proposed framework, Lockheed Martin would produce 156 aircraft annually over the next decade.
The company has also committed to self-funding at least $7 billion in initiatives to support the programme, the Pentagon said.
The deal aims to stabilise prices, secure spare-parts supplies and improve reliability as the US confronts emerging threats from AI and drones.
Unlike earlier F-35 deals, typically negotiated in three-year blocks, the proposed agreement would span a decade.
Such a framework could also give the company and its extensive network of suppliers the confidence to invest in production capacity, workforce expansion and supply-chain resilience.
The Pentagon said the agreement reflected a broader effort to strengthen the US defence industrial base and increase manufacturing capacity.
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“We have fundamentally changed how we stabilise the American defence industrial base to produce at speed and scale,” Under Secretary for Acquisition Michael Duffey said in a statement.
Lockheed Martin Chief Executive Officer Jim Taiclet said greater certainty around production and fleet maintenance would enable the company to make upfront investments, improve efficiency and expand manufacturing capacity.
The company said the F-35 Joint Program Office and Lockheed Martin would work in the coming months to settle contract terms, pricing and delivery schedules before a formal award.
The framework is also expected to support a broad network of subcontractors involved in manufacturing components, supplying equipment and maintaining the aircraft.
The proposed F-35 deal comes as the programme continues to face scrutiny over rising costs, aircraft availability and delays in delivering upgrades. The fighter has struggled with mission-capable rates, which measure how often aircraft are ready to carry out assigned missions. Delays in the TR3 hardware and software upgrade have added to these challenges.
According to the report cited in the source material, the programme's cost has risen by about $51 billion, or roughly 10 per cent, since late 2023. The increase reflects spending on software improvements, operational readiness, spare parts and engine power.
More than 1,375 F-35 aircraft are currently in service worldwide, most of them operated by the US military. The global fleet has logged more than one million flight hours.
The planned procurement also comes as the US military prepares to replace ageing fighter jets while developing its next generation of combat aircraft. Fourth-generation fighters such as the F-15 and F-16 have been in service for decades and are expected to be retired before newer platforms are widely deployed.
Boeing has been selected to develop the F-47 and the F/A-XX, while Northrop Grumman is building the B-21 Raider next-generation bomber. The proposed F-35 agreement would help maintain fighter production and support the existing fleet as these newer programmes progress.
For Lockheed Martin, the deal could provide greater certainty over future production. For the Pentagon, it would reinforce its long-term reliance on the F-35, even as concerns persist over the aircraft's cost, reliability and upgrade delays.
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