Pentagon to buy 850 fifth-generation fighter jets: Deal details
Photo: The Pentagon is purchasing 850 fifth-generation fighter jets (Getty Images)
The US Department of War and Lockheed Martin have signed a 10-year framework agreement aimed at expanding the F-35 fighter jet fleet.
The new agreement will establish a long-term framework for the procurements necessary to modernize and expand the 5th-generation tactical aircraft fleet. Implementation of the agreement will be contingent upon receiving the appropriate authorization and funding from Congress.
In exchange for these decade-long commitments, Lockheed Martin will fund initiatives in support of the F-35 program in the amount of at least $7 billion.
In addition, the agreement guarantees the purchase of at least 850 aircraft for the US over ten years and provides for the acquisition of an initial set of spare parts and modernization kits, along with operational support for the entire global F-35 fleet.
By standardizing equipment requirements across the entire supply chain, this agreement allows for the most efficient use of purchasing power and achieves real cost savings through economies of scale.
Earlier, US President Donald Trump stated that he planned to approve the sale of US-made F-35 fighter jets to Saudi Arabia. The sale could mark a significant shift in US policy and affect the military balance in the Middle East.
Also, the US State Department has given the green light to defense contracts with Saudi Arabia and the UAE.
