The U.S. State Department approved a potential $24.3 billion sale of F-35 fighter jets to Saudi Arabia. The proposed deal includes up to 48 aircraft manufactured by Lockheed Martin. The package also features Pratt & Whitney engines, specialized training, and technical support.
Congress received formal notification of the transaction and has 30 days to complete its review. This agreement represents the first time the U.S. has offered the advanced stealth fighter to a Gulf Arab state. The sale would significantly enhance regional military capabilities if finalized.
Lockheed Martin stock declined slightly after the announcement. Analysts suggest the market reaction remains muted because the deal is not yet final. The company would realize revenue from the sale over a long-term period rather than through an immediate boost.