The U.S. government is expected to receive an approximately $3 billion purchase request from Israel for 25 F-35 aircraft manufactured by Lockheed Martin (NYSE: LMT).
Yoav Gallant, the Israeli defense minister, approved a proposal to expand the air force fleet to 75 stealth fighter jets by acquiring a third squadron of the “Adir” F-35 aircraft from the U.S., Israel’s Office of the Prime Minister said Sunday.
If the transaction pushes through, Lockheed and Pratt & Whitney, an RTX (NYSE: RTX) company that builds the aircraft’s engine, will have to collaborate with Israeli companies on the manufacturing of F-35 components– a move aimed at ensuring continued partnership between the two governments’ defense industries.
An official letter of request will be sent to the F-35 Lightning II Joint Program Office in the coming months to move the procurement plan onward.
