Pentagon nears $30 billion F-35 fighter purchase

• The US Department of Defense is nearing an agreement with Lockheed Martin Corp for around 375 F-35 fighter jets.
• This comes amid expectations of a price increase; for the most common version of the jet due to lower quantities and inflation.
• A pre-pandemic forecast for this three-year buy showed around 485 jets could be included.

According to three sources, the US Department of Defense is close to reaching a deal; with Lockheed Martin Corp. for around 375 F-35 fighter planes over a three-year period; despite projections of a price hike for the most popular model of the aircraft; owing to reduced numbers and inflation.

When the first F-35A rolled off the assembly line in 2007, it cost $221 million. Since then, the stealthy fifth-generation fighter’s price; has decreased to $79 million as a result of greater manufacturing volumes; and technological advancements.

Data rights conversations have stopped in recent weeks, according to two persons with knowledge of the matter. However, the persons said that a meeting on Monday at noon in Washington; may result in a “handshake” agreement on a price range and a quantity. If a deal is struck, the precise price would not be set in stone for several weeks or perhaps months; but the eventual overall worth is expected to be in the neighbourhood of $30 billion.

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Even though the only records that are likely to be broken at the event in southeast England; are for sweltering temperatures, the handshake agreement would take place as the aviation industry gathered; for the return of the Farnborough Airshow, aiming for a display of confidence; after the devastation of COVID-19.

Lockheed started to warn that the epidemic would cause the price of the plane to increase if economies of scale; shrank and supply lines faltered. A pre-pandemic prediction for this three-year purchase suggested 485 planes may be included; although the F-35A, the most popular model of the jet; would undoubtedly cost more overall due to the volume reduction of 22%.

The F-35 is available in three different variants, including the A-model for the US Air Force and US allies; the B-model for short takeoffs and vertical landings, and the F-35C planes for landing on aircraft carriers.

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