Pentagon Halves F-35 Jet Orders in Latest Budget Request

The Pentagon is significantly reducing its request for Lockheed Martin F-35 jets, as reported by Bloomberg News on Tuesday. The U.S. Defense Department's new procurement request to Congress asks for just 24 jets, a sharp decrease from the 48 forecasted last year.

This reduced request involves a $3.5 billion budget for F-35 aircraft acquisition by the Air Force, along with an additional $531 million allocated for the advance procurement of necessary materials. Additionally, the Pentagon is seeking only 12 jets for the Navy, as opposed to the 17 approved for this fiscal year. The Marine Corps will also face a two-jet reduction.

In May, Lockheed Martin's finance chief had stated that a finalized contract for the F-35 jets was expected, despite previous delays linked to technological upgrades. The F-35 program remains a significant revenue source for Lockheed Martin, contributing to about 30% of the company's earnings. The defense contractor delivered 110 F-35 aircraft to the U.S. and its allies in 2024.

(With inputs from agencies.)