Fort Worth-based Lockheed Martin Aeronautics Co. is on track to deliver 170 to 190 F-35s in 2025, officials said.
So far, about 97 fighter jets have been delivered to the military.
The stealth aircraft, assembled at Naval Air Station Joint Reserve Base Fort Worth, is described as a bridge to the new F-47 aircraft that Boeing will produce for the military’s Next Generation Air Dominance Program.
In a second-quarter earnings call July 22, Lockheed Martin Corp. CEO Jim Taiclet said more orders for F-35s are expected even though the Department of Defense lowered its order to 47 aircraft in the proposed 2026 budget. However, he added, congressional committees could boost the number of aircraft.
The House Appropriations Committee is considering 69 aircraft in its spending plan, while the Senate Armed Services Committee is looking at 57.
Evan Scott, Lockheed chief financial officer, said the company and the Defense Department are finalizing contracts for more F-35s. One contract would include 150 jets, but it isn’t expected to be completed until the third quarter of 2025.
The uptick in F-35 orders comes as Lockheed Martin recognized $1.8 billion in losses during the second quarter of 2025. Those losses include a $950 million charge on a classified Skunk Works program. Skunk Works, part of Lockheed Martin Aeronautics, has a Fort Worth office.
The company also faces a $4.6 billion additional income tax liability from the IRS related to an accounting method change. The company is accruing $100 million in interest as it contests the claim.
Lockheed Martin operating cash flow in the second quarter of 2025 was $150 million, partially due to the delayed F-35 Lots 18 and 19 awards and tariff impacts, Scott said.
Issues with the F-35’s Technology Refresh 3 upgrade paused deliveries for a year. With that issue resolved, Lockheed Martin Aeronautics has delivered 207 aircraft since 2024, Taiclet said.
“Earlier this month, we released new software to the fleet continuing our maturation and fielding of advanced block four capabilities,” Taiclet said. “This update improves the pilot interface and provides additional weapons and electronic warfare features.”
Lockheed Martin continues to see strong international demand for the F-35, he said, noting that the United Kingdom announced it plans to procure 12 F-35A jets while Belgium plans to add 11 aircraft to its fleet. Government officials in Denmark are also interested in additional jets, he said.
The performance of the jets has been tested during recent U.S. military operations in the Middle East, “reinforcing the company’s essential role to American and allied national security,” Taiclet said.
“Pilots flying the F-35 Lightning II and the F-22 Raptor stealth fighters led the operation, providing the air dominance and defense suppression required for the bombers to reach Iran’s hardened nuclear sites,” he said.
Eric E. Garcia is a senior business reporter at the Fort Worth Report. Contact him at eric.garcia@fortworthreport.org.
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