The US Air Force has lowered its request for F-35 Lightning II Joint Strike Fighters, seeking 24 fewer aircraft than initially planned. Instead of the projected 48, the Defense Department’s latest procurement document identifies a request for only 24 F-35s for the Air Force. Reports indicate a similar downward adjustment for naval and Marine Corps aircraft, with the Navy requesting 12 F-35s (down from 17) and the Marine Corps 11 (down from 13).
This announcement has had immediate repercussions for Lockheed Martin, whose shares experienced a decline of up to 7% before recovering slightly to close at $456, down 4.2% from the previous day. The F-35 program remains significant for Lockheed, with the company having plans to sell a total of 2,456 planes to the US over several decades, including 1,763 designated for the Air Force.
A Lockheed Martin representative expressed confidence in the F-35’s capabilities, stating that it remains a “combat proven” option, essential for maintaining the edge over emerging threats. The company emphasized its commitment to collaborating with Congress and the Administration as defense funding discussions continue.
Congress could modify the F-35 procurement numbers, as lawmakers have previously shown a willingness to fund more aircraft than initially requested. Last year, for instance, Congress approved funding for 51 F-35s instead of the requested 48. However, any substantial increases in funding would represent a significant shift from this year’s smaller request.
This reduction in procurement requests may reflect broader changes in Pentagon spending priorities and has emerged in an environment where some conservative voices are questioning the F-35 program’s relevance and cost. The Pentagon’s strategy has also evolved, with indications that it wants to integrate drones alongside crewed fighters in future combat operations.
Despite varying opinions on the F-35 program, Lockheed Martin remains committed to advancing its technology, aiming to enhance future fighter capabilities while potentially reducing costs. The ongoing discussions surrounding defense funding may lead to further developments in the coming months.
This evolving situation highlights the complex dynamics within US defense spending and the continuous balancing act between innovation, cost management, and military readiness.