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

The US Air Force and Navy's decision to increase procurement of Lockheed Martin's F-35 suggests continued government support for defense spending, reinforcing Lockheed’s revenue stream amid some critiques of the aircraft's relevance.

Newsquawk StaffPublished 24 Apr 2026, 17:49 UTCOn the live feed at 17:29 UTC — 3 more headlines followed before this page went public

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17:46

The news of Ghalibaf's resignation as head of the Iranian negotiating team is false, according to Mehr News

17:34

Iran Foreign Minister Araghchi will not hold any negotiations with the Americans in Islamabad, via Tasnim; says US Media lied again

17:29

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

17:27

Brazil pulp maker Suzano (SUZ) to hike pulp prices by USD 50/tonne in Europe and the Americas from May

17:24

Intertek (ITRK LN) rejects improved GBP 9.7bln takeover offer from EQT at GBP 54.00/shr, says offer fundamentally undervalues the co.

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Air Force procurement would rise from 38 jets in FY27 to 42 in FY28, 46 in FY29, and 48 in both FY30 and FY31

Context

This could be seen as a bullish signal for Lockheed Martin shares, especially as defense budgets generally enjoy bipartisan support, which may prompt further investment sentiment towards the stock and the sector as a whole.

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