Canada just agreed to a deal to buy 18 F-35 Fighter Jets from Lockheed Martin Corporation (NYSE: LMT) for C$19Billion. Those new planes will replace its older fleet of fighters.
In a news conference, Canadian Defense Minister Anita Anand said the planes were expected to be delivered in 2026, and for the fleet to be fully operational between 2032 and 2034. She added that this was the largest investment in the Royal Canadian Air Force in 30 years, and that the purchase and maintenance of the fleet could contribute close to 3,300 jobs and over C$425 million to the Canadian economy annually.
Canada is part of a consortium that helped develop Lockheed Martin’s F-35.