The Air Force has cut in half its request to Congress for its signature F-35s, dealing a blow to Lockheed Martin Corp., the top US defence contractor.
A Defense Department procurement request document sent to Capitol Hill this week asked for 24 of the planes, down from 48 that was forecast last year.
The proposed cut is significant because the Air Force is the largest customer for the world’s biggest weapons program. The scaling back of the F-35 request may reflect one way the service is revising its funding for fiscal 2026 to comply with Defense Secretary Pete Hegseth’s plan to shift projected US military spending by 8% over the next five years.
The request could undergo substantial changes as it moves through Congress. Lockheed Martin has many supporters in Congress who may be able to change the budget outlook for the F-35 program.
Lockheed Martin shares fell as much as 7% on Wednesday, the most since March 21.
Byron Callan, a defence analyst with Capital Alpha Partners LLC, wrote in a note that Lockheed Martin “might be able to offset a sales decline” if it won increments of the new unmanned Air Force fighter drone program and portions of the ‘Golden Dome’ missile and air defence system.
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“We are sceptical that major new international customers will emerge, including India and the United Arab Emirates,” he said.
Manned aircraft were not among the 17 areas that Hegseth protected from cuts back in February. One area he did safeguard was the Air Force’s newest drone program.
The Air Force now plans to ask for US$3.5 billion ($4.5 billion) for the F-35 aircraft, and another US$531 million for advance procurement of materials for it.
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For the Navy’s carrier variant of the F-35, the Pentagon is planning to ask for US$1.95 billion to buy 12 and US$401.5 million for advance procurement. The Marines would request US$1.78 billion for 11 planes. Another US$113.7 million would go toward advance procurement.
The Navy’s request of 12 F-35s is a cut from the 17 Congress approved for this fiscal year, while the Marines would also see a reduction of two from this year’s funding. The Pentagon is funded under a stopgap measure because Congress did not approve a spending bill for the agency.
The Air Force had planned to procure a total of 1,763 F-35As but the warplane has become a prime target for criticism under President Donald Trump. Elon Musk, the billionaire who led the president’s efforts to slash government costs before the two men had a dramatic falling out this month, said in December that “some idiots are still building manned fighter jets like the F-35” in an age of drones.
Laura Loomer, a right-wing influencer, joined in the attacks. “The F-35 fiasco — it’s time to shine a spotlight on a scandal that’s quietly draining our nation’s resources while compromising our military readiness every day,” she wrote on X in April.
The F-35 is now a roughly US$2 trillion program, including about US$1.5 trillion for decades of support on top of US$485 billion to develop and procure 2,456 of the jets for the American military. So far, about 967 have been put on contract, with 747 delivered.
“The F-35 is the cornerstone of the battlespace for the US military, enabling peace through strength in the 21st century,” Lockheed Martin said in a statement.
“It is combat proven, offers the most advanced capability and technology, and is the most affordable option to ensure the U.S. and allies remain ahead of emerging threats,” the statement said. “We will continue to work closely with the Administration, Congress and our customers to deliver this game-changing capability as the budget process continues in the months ahead.”
