Market Commentary

Germany Weighs Additional F-35 Fighter Jet Purchase

Jahanzeb Salam
7 Jun 2024 · 1 minute read

According to a military source, Germany is potentially considering buying 8 more F-35 fighter jets from American aerospace and defense manufacturer Lockheed Martin (LMT:US), adding to the 35 already ordered. This move follows Germany’s 2022 purchase of 35 F-35s, including weapons, for around €10 billion ($10.89 billion). These advanced jets will replace the aging Tornado aircraft, the only German jets capable of carrying U.S. nuclear bombs stored in Germany.

The F-35s, equipped with cutting-edge sensors, will begin arriving in 2026 for pilot training in the U.S. and will be stationed in Germany by 2027. This acquisition is part of a broader defense strategy announced by Chancellor Olaf Scholz following Russia's invasion of Ukraine, which includes a €100 billion fund to modernize the military and meet NATO's defense spending targets.

However, funding for the additional jets is still being determined, as the special fund is nearly exhausted and Defence Minister Boris Pistorius has not secured an increase in the 2025 defense budget. Pistorius warns that without more funds, future military procurement could be at risk.

Where Germany is supposedly planning to arm itself with advanced weaponry and fighter jets for its security, U.S. politicians were recently seen increasing their stakes in the defense giant. Congressman Rep. Kevin Hern and Rep. Kathy Manning were both actively buying the stock this year.