Pentagon Plans Boost to F-35 Orders as Lockheed Faces Scrutiny Over Program Performance

Lockheed Martin ($LMT) could see increased demand for its F-35 fighter jet as the U.S. Air Force and Navy propose ramping up purchases over the next five years, even as the program faces criticism over cost and performance.

• The Air Force plans to increase F-35 purchases from 38 jets next year to 48 annually by 2030 and 2031.
• Navy and Marine Corps procurement would rise to 47 jets next year from 23 this year.
• Total requested F-35 purchases could reach 85 jets, up from 47 approved this year.
• The proposal is part of a broader plan to raise the U.S. defense budget to $1.5 trillion.
• The F-35 has recently been used in operations tied to the U.S.-Israel campaign involving Iran.
• The program has faced criticism over readiness rates and delays in software upgrades.
• Federal lobbying disclosures show Lockheed Martin has consistently spent tens of millions annually since 2020 on defense appropriations, procurement policy, and weapons systems funding.

Relevant Companies

• Lockheed Martin ($LMT) – Manufacturer of the F-35, which is seeing proposed increases in U.S. procurement.

Editor’s Note: This is a developing story. This article may be updated as more details become available.