The US Air Force and Navy plan to increase purchases of Lockheed Martin's (LMT) F-35 fighter jet over five years, despite criticism from Elon Musk and others that the aircraft is becoming obsolete, Bloomberg reports
Importance
Level 1
- Air Force procurement would rise from 38 jets in FY27 to 42 in FY28, 46 in FY29, and 48 in both FY30 and FY31