Pentagon and Lockheed Reach Deal to Build 375 F-35 Fighter Jets

A Lockheed Martin F-35 aircraft at the ILA Air Show in Berlin, on April 25, 2018. Axel Schmidt/Reuters

WASHINGTON—The U.S. Department of Defense agreed with Lockheed Martin Corp to build about 375 F-35 fighter jets over three years, the two parties said on Monday, amid expectations the price of the most common version of the aircraft would increase due to inflation and slower production.

“We are pleased to announce that the Department and Lockheed Martin reached a handshake agreement for the next F-35 lot buy on a basis of 375 aircraft,” said William LaPlante, the Pentagon’s chief weapons buyer.