Pentagon Halves F-35 Order, Lockheed Martin Faces 50% Cut

The Pentagon has significantly reduced its request for the procurement of F-35 fighter jets for the U.S. Air Force this year, cutting the number in half. This move is a notable setback for Lockheed Martin, the largest defense contractor in the United States.

The defense department's procurement request, submitted to Congress this week, calls for the acquisition of 24 F-35 aircraft for the Air Force, down from the 48 aircraft projected last year. This reduction is significant because the U.S. Air Force is the largest customer of this global weapons project. The cut in the F-35 procurement request may reflect the Air Force's adjustment of its 2026 fiscal year budget to comply with Defense Secretary Lloyd Austin's plan to reduce military spending by 8% over the next five years.

The request is subject to substantial changes during congressional review. Lockheed Martin has strong support in Congress, and its allies may influence the budget outlook for the F-35 program. The procurement of aircraft is not among the 17 areas exempted from cuts by Austin in February. However, he did guarantee funding for the Air Force's newest drone project.

The Air Force is seeking 3.5 billion dollars for the F-35 aircraft and an additional 531 million dollars for the early procurement of materials. For the Navy's carrier-based version of the F-35 fighter jet, the Pentagon plans to request 1.95 billion dollars to purchase 12 aircraft and 401.5 million dollars for advance procurement. The Marine Corps will request 1.78 billion dollars to buy 11 aircraft, with an additional 113.7 million dollars for advance procurement.

The Navy's request for 12 F-35 aircraft is lower than the 17 aircraft approved by Congress for this fiscal year, and the Marine Corps' request is two aircraft less than this year's allocation. Due to Congress not approving the Pentagon's spending bill, the agency's funding is currently through a continuing resolution.

The F-35 fighter jet program has a total investment of approximately 2 trillion dollars, including about 1.5 trillion dollars for decades of support and 485 billion dollars for research, development, and procurement of 2,456 aircraft for the U.S. military. To date, contracts have been signed for approximately 967 aircraft, with 747 already delivered.