F-35 Deal: Pentagon and Lockheed Set 10-Year Floor of 850 Jets
The Pentagon and Lockheed Martin agreed on a 10-year F-35 framework: at least 850 U.S. jets and $7 billion in company funding, if Congress approves.
WASHINGTON, Oct. 22, 2026 — The Department of War and Lockheed Martin have agreed on a 10-year framework for F-35 Lightning II production and sustainment that sets a floor of 850 U.S. aircraft. The Pentagon announcement said Lockheed will self-fund “at least $7 billion in initiatives that support the F-35 Program” in return for the decade-long commitment.
The F-35 framework is not yet a contract. The department said its execution “remains subject to Congressional authorization and appropriations.”
What the framework covers
According to the Department of War, the agreement covers the 850-jet minimum, initial spare parts, modification kits and sustainment of the global F-35 fleet. Lockheed Martin said it also includes international customer orders across production Lots 21 to 30, at “a continued production rate of 156 aircraft per year.”
Under Secretary of War Michael P. Duffey framed it as a change in how the department buys weapons. “By aligning financial incentives with actual performance, we are ensuring our warfighters are equipped with the lethal capabilities they need to fight and win,” he said.
Neither release gave a total value or a price per jet. Lockheed said the F-35 Joint Program Office and the company will “finalize contract terms, pricing, and schedules through a formal contract award” if Congress grants multiyear authority and the money to go with it. The company said the approach “is expected to save taxpayers billions of dollars” through long-term pricing and volume discounts.
The hurdle in Congress
Military Times reported that 850 jets over 10 years averages 85 a year, the same number the Pentagon requested for fiscal 2027, while Congress funded 47 in fiscal 2026. The outlet also noted that the stopgap funding law that runs through Dec. 11 generally bars new multiyear buys, so the framework cannot be turned into a contract until lawmakers act.
Reuters, citing a $92 million price for the least expensive F-35 variant, estimated the framework would be worth at least $78.2 billion. Neither the Pentagon nor Lockheed has confirmed a figure.
The program behind the deal
The F-35 is the Pentagon’s largest procurement program. A Congressional Research Service report says the department plans to buy 2,470 of the jets in three variants: the F-35A for the Air Force, the F-35B for the Marine Corps and the F-35C for the Navy and Marine Corps. Full-rate production was approved on March 12, 2024, 23 years after development began.
CRS also lists the issues Congress has weighed, including upgrade delays, engine and cooling improvements, aircraft availability, the supply chain and “the merits of a block-buy approach.” The report cites a Government Accountability Office estimate from April 2024 that sustaining the fleet through 2088 would cost $1.58 trillion.
Analysis: what it means
The framework shifts the F-35 debate from annual lot-by-lot bargaining to a single decade-long decision for Congress. Its value to the Pentagon depends on terms not yet public: the price per jet, the savings compared with annual buys, and what the $7 billion in company funding will buy. Watch the final fiscal 2027 defense bill and any multiyear procurement language for the F-35. Without both, the framework stays on paper.
Sources
- U.S. Department of War: Department of War and Lockheed Martin Finalize Landmark 10-Year F-35 Deal (Oct. 22, 2026)
- Congressional Research Service: F-35 Lightning II: Background and Issues for Congress (R48304)
- Lockheed Martin: New Framework Agreement for Multiyear F-35 Production and Sustainment
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