Lockheed Martin Corporation (LMT) and the Department of War announced a framework on Thursday, Oct. 22, 2026, for buying F-35 jets under multiyear deals, in a release dated from Arlington, Virginia. The plan spans 850 jets for the U.S. over a decade, plus spares, upgrade kits and support. The stated aim is a steadier supply chain, lower costs for taxpayers and better fleet readiness.

The framework also takes in international customer orders across Lots 21 to 30. Production would continue at 156 aircraft a year, according to the release Lockheed Martin Aeronautics issued at 6:10 a.m. Eastern.

The agreement is not yet a contract. The F-35 Joint Program Office and Lockheed will finalize terms, pricing and schedules only "if granted multiyear authority and associated appropriations in the coming months," the release says. It gives no contract value and no price per jet.

At 156 jets a year, a decade of output comes to 1,560 aircraft, as calculated by Trend & Ticker. The 850 U.S. jets would be about 54% of that total. That leaves roughly 71 aircraft a year outside the U.S. commitment.

That 10-year total is larger than the fleet in service today. The release counts more than 1,375 F-35s fielded from 42 bases, with the fleet past one million flight hours.

The pitch rests on ending the yearly contracting cycle "that has historically strained the industrial base." Buying jets together with spares and upgrade parts is meant to win bulk discounts and cut the cost of each aircraft. The release puts lifetime taxpayer savings at "billions of dollars" without a number.

"Our new multiyear framework gives suppliers stability to plan for the future and invest with confidence, improving readiness across the F-35 fleet," said OJ Sanchez, president of Lockheed Martin Aeronautics.

Chairman, President and CEO Jim Taiclet said the framework "strengthens the way we can plan and invest in the F-35 enterprise." With more certainty, he said, the company can "make the upfront investments needed to expand capacity."

The release says the program will support 317,000 U.S. jobs. It also puts the program's economic activity at about $79 billion a year over the next decade.

The release makes no statement on earnings, backlog or guidance. Lockheed said in an Oct. 1 notice that third quarter results come before the market opens on Thursday, with a webcast at 8:30 a.m. Eastern. Our earnings preview sets out the cash it still needs this year. That call is the first place management can be pressed on what the framework is worth in dollars.