Israel gave final approval for a plan to purchase two new combat squadrons of F-35 and F-15IA advanced fighter aircraft from Lockheed Martin (LMT.N), and Boeing (BA.N), n a deal worth tens of billions of dollars, the defense ministry said on Sunday.
The deal, approved by Israel’s Ministerial Committee on Procurement, is a first step in a 350 billion shekel ($119 billion) plan to bolster Israel’s military and “strengthen readiness ahead of a demanding decade for Israeli security,” it said.
Prime Minister Benjamin Netanyahu said much of this expanded defense budget will be to produce munitions in Israel and not be dependent on foreign countries. Israel, he noted, will also develop “groundbreaking” aircraft.
The ministry added that the new squadrons will serve as a cornerstone of the military’s long-term force development, addressing regional threats and preserving Israel’s strategic air superiority.
“Alongside immediate wartime procurement needs, we have a responsibility to act now to secure the IDF’s military edge ten years from now and beyond,” said ministry Director General Amir Baram, referring to the Israel Defense Forces.
The recent war with Iran “reinforced just how critical the U.S.-Israel strategic relationship is, and how essential advanced air power remains,” he added.
Under the deal, Israel would buy a fourth F-35 squadron from Lockheed Martin and a second squadron of F-15IA fighter jets from Boeing.
“Israel is stronger than ever, and Israel must always be much stronger than our enemies,” Netanyahu said. “These aircraft strengthen Israel’s overwhelming air superiority.”
In December, Boeing was given an $8.6 billion contract for Israel including 25 new F-15IAs and an option for 25 more.
Baram said the next step would be to move forward with finalizing the agreements with the U.S. government and military counterparts.
