Lockheed Martin Corp. (NYSE:LMT) and Boeing Co. (NYSE:BA) are set to supply Israel with two additional fighter squadrons after Israel’s defense ministry said on Sunday it signed off on a large aircraft-buy plan.
The ministry framed the move as an early step in a broader military modernization push meant to prepare for what it called a tougher security environment over the next decade.
$119 Billion Purchase
According to a Reuters report, the procurement committee’s approval supports a $119 billion (350 billion shekel) program and includes a fourth F-35 squadron from Lockheed Martin plus an additional squadron of Boeing’s F-15IA jets.
The ministry said the aircraft are intended to anchor long-range force planning and help Israel maintain air dominance.
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