Pentagon, Lockheed announce deal for 850 F-35 jets over 10 years / Photo: Toby Shepheard - AFP/File
-
Capital-markets shares rally as Motilal Oswal and Angel One lead gains
-
Why Pregnancy Cost Estimates Fail: A Family’s $9,000 Surprise
-
Latino Voters Defy ICE Fears, Turn Out in Record Numbers for Midterms
-
US Strikes Iranian Targets in Strait of Hormuz Ahead of Midterms
-
ITC shares rise as analysts anticipate gradual cigarette-business recovery
-
Brodeur’s Overtime Goal Secures Bethlehem’s Second Consecutive Sectional Title
-
Reliance rally puts historical one-year return pattern in focus
-
Rare 1970 Plymouth ‘Cuda 426 Hemi Listed for $400,000
-
Kuwait edges Oman 1-0 in veterans Gulf Cup in Doha
-
The Digital Burden: Why Instant Messaging Feels Like a Full-Time Job
-
Saudi Aramco quarterly profit climbs 34.6% amid elevated oil prices
-
Alberta Tabled Controversial Riding Boundary Maps Amid Gerrymandering Accusations
-
Washington reports movement in Iran negotiations aimed at preventing escalation
-
Hong Kong court set to sentence activist Joshua Wong in security case
-
Korea’s Labor Share of GDP Hits Record Low Amid Semiconductor Boom
-
Australia raises benchmark rate to highest level in 18 years
-
littlefish and Halo Dot Partner to Replace Payment Terminals with SoftPOS
-
'The Remarried Empress' Cast Discusses Bringing Fantasy Royal Drama to Life
-
Kuwait inspectors destroy 115 kilograms of unverified meat in Farwaniya
-
Asian stocks retreat as AI worries outweigh steep oil-price drop
-
Egypt Accelerates Construction of 341km Sinai Railway Linking Arish and Taba
-
Hamad International Airport stages emergency drills during WATAN 2026
-
John Schneider Admits Owes Millions in 'Dukes of Hazzard' Divorce Battle
-
Global failure to punish attacks leaves journalists at continuing risk
-
Philippine Authorities Report Progress in Thomas Markle Sr. Child Pornography Probe
-
Researchers Warn 'Bookkeeping Trick' Masks Beef Industry's Methane Emissions
-
Web Summit Qatar 2026 generated QR1 billion economic impact, report says
-
Climate Change Intensified Atlantic Hurricanes, Study Finds
-
UAE oil spill raises questions for desalination operations
-
Qatar solar expansion opens scope for technical performance gains
-
Doha hotel and Carolina Herrera launch fragrance-inspired afternoon tea
-
IXOPAY Announces IXO One, a Modular Payments Platform Built for an Era of Fluid Commerce
Pentagon, Lockheed announce deal for 850 F-35 jets over 10 years
The Pentagon and Lockheed Martin announced Thursday a 10-year agreement for the production of 850 F-35 warplanes, underscoring Washington's long-term commitment to the stealth aircraft.
The "framework agreement," which the Pentagon said would "modernize and expand" the F-35 Lightning II Joint Strike Fighter program, still requires congressional approval and funding.
The F-35, a joint project between the United States and a number of allies, is one of the world's most advanced military aircraft. There are more than 1,375 F-35s based around the world, according to Lockheed.
The deal, if approved, would give Washington a "predictable, affordable, and resilient" fighter jet program, Lockheed said, pointing to billions of dollars in expected savings thanks to "long-term pricing and industry volume discounts."
In exchange for the Pentagon's 10-year commitment, Lockheed Martin will fund $7 billion in projects supporting the F-35s, the Pentagon said.
"We have fundamentally changed how we stabilize the American defense industrial base to produce at speed and scale," top Pentagon acquisition official Michael Duffey was quoted as saying in the Pentagon announcement.
"By aligning financial incentives with actual performance, we are ensuring our warfighters are equipped with the lethal capabilities they need to fight and win."
Lockheed pledged to produce the warplanes at a rate of 156 aircraft per year.
acb/rl
P.Serra--PC
