Today, the US Department of War and Lockheed Martin finalized a landmark 10-year framework agreement for at least 850 F-35 Lightning II fighter jets over the next 10 years.

Axar.az informs accoring to the department, the agreement creates a stable, long-term procurement signal to modernize and expand America's 5th generation tactical aircraft.

Execution of the agreement remains subject to Congressional authorization and appropriations.

In exchange for this decade-long commitment, Lockheed Martin will self-fund at least $7 billion in initiatives that support the F-35 Program, the department said in a statement.

"Furthermore, it guarantees a minimum floor of 850 U.S. aircraft over the ten-year period and includes procurement of initial spare parts and modification kits, plus sustainment of the global F-35 Fleet. By integrating hardware requirements across the supply chain, this deal maximizes purchasing power and delivers true economies of scale," the statement added.