The deal will cost an estimated $3 billion from US military aid to Israel, with the first three aircraft to be delivered in 2027.
Israel’s Ministry of Defense procurement delegation in the US has submitted a formal Letter of Request (LOR) to the US F-35 Program Office (JPO) for the procurement of 25 F-35 stealth fighter aircraft from the US government. The move comes two months after Minister of Defense Yoav Gallant approved the recommendation by the Ministry of Defense and IDF to buy the Lockheed Martin combat jets. When the procurement of the third F-35 squadron is complete, Israel will have 75 of the stealth jets.
The deal will cost an estimated $3 billion from US military aid to Israel, with the first three aircraft to be delivered in 2027 and thereafter at the rate of three F-35s each year. As part of the original agreement between the Israeli and US governments, the aircraft manufacturer Lockheed Martin and the engine manufacturer Pratt & Whitney, agreed that Israeli manufacturers will be involved in producing parts for the planes.
This collaboration will be especially beneficial for Israeli defense electronics company Elbit Systems (Nasdaq: ELST; TASE: ELST), which manufactures displays and helmets for the F-35 planes. The helmet produced by Elbit is considered a global technological leader providing pilots with advanced capabilities.
Published by Globes, Israel business news – en.globes.co.il – on September 10, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
F-35 Adir credit: Israel Air Force