Summary and Key Points: Greece has formalized its acquisition of 20 F-35 Lightning II aircraft from Lockheed Martin for $3.47 billion, with an option for 20 more. This deal, under the U.S. Foreign Military Sale program, includes technical support, training, and simulators, with deployment expected by the early 2030s.

-The purchase highlights Greece's ongoing defense enhancements amid tensions with Turkey. Lockheed Martin projects that NATO and European partners will operate about 500 F-35s by the decade's end.

-The sale reflects the growing presence of the F-35 in Europe, enhancing NATO's air power and interoperability.

Greece Finalizes $3.47 Billion Deal for 20 F-35 Lightning II Jets

Just days after Lockheed Martin's earning call with analysts, in which it reported a 9% year-over-year increase in its fiscal 2024 second-quarter net sales, the aerospace firm announced on Thursday that NATO alliance member Greece had finalized its intentioned to acquire twenty of F-35 Lightning II aircraft. Athens signed a Letter of Offer and Acceptance (LOA) via the U.S. government Foreign Military Sale program.

The LOA included an option for an additional 20 Lightning IIs.

"We are excited to welcome Greece into the F-35 enterprise," said Air Force Lt. Gen. Mike Schmidt, director and program executive officer of the F-35 Joint Program Office. "The F-35 will provide exceptional capability to the Hellenic Air Force, build interoperability between our allies and strengthen the combat effectiveness for all of NATO."

The F-35 Lightning II to Strike in Greece

Athens has been eying the F-35 for some time, seeking to replace its aging fleet of F-16s and other aircraft. It is likely that the fifth-generation stealth fighters will be deployed to Andravida Air Base in the northwest of the Peloponnese Peninsula by the early 2030s – pending the required approval from the United States, which needs to ensure the facility's security.

The $3.47-billion deal would also include initial technical support, pilot and engineer training on the Lightning II, and simulators for ongoing training. Greece has already been one of the NATO members that typically spent more than 2 percent of its gross domestic product (GDP) on its national defense, as it increased its military acquisitions in recent years due to its tensions with Turkey.

"For several decades, the Hellenic Air Force has been our partner, and it is our honor to continue that relationship as Greece becomes the 19th nation to join the F-35 program," said Bridget Lauderdale, Lockheed Martin's vice president and general manager of the F-35 program. "The F-35 is the only fighter suitable to strengthen Greece's sovereignty and operational capability with allies."

F-35: The NATO warbird

The fifth-generation stealth fighter has already been selected by several U.S. partners and allies around the world, including NATO members Denmark, Italy, the Netherlands, Norway, and the United Kingdom. In addition, Belgium, Canada, the Czech Republic, Finland, Germany, and Poland are also set to adopt the stealth fighter in the coming years to help maintain regional security and stability.

Romania has also announced plans to acquire the all-weather multirole fighter, which could replace its vintage Soviet-era aircraft.

"The F-35's growing presence across Europe is a powerful testament of alliance-based deterrence and is setting the foundation for NATO and allied nations' next generation air power capability," added Mara Motherway, Lockheed Martin vice president of Strategy and Business Development.

In total, Lockheed Martin expects the NATO members and other partners in Europe to operate about 500 F-35s by the decade's end, while the aerospace giant said it is on track to see more than 600 F-35s from more than 10 European nations in service together. That includes two full U.S. F-35 squadrons stationed at Royal Air Force (RAF) Lakenheath in the UK.

However, one NATO member that won't be adopting the F-35 – and which may not be pleased about the Greek adoption of the aircraft – is Turkey, which was famously expelled from the program for its decision to move forward with its acquisition of the Russian-made S-400 "Triumf" air defense system.

F-35 Deliveries Have Resumed

As previously reported, deliveries of the F-35 also resumed earlier this month after being put on hold last summer due to delays with the Technology Refresh-3 (TR-3) update. The U.S. Department of Defense had refused to accept deliveries until the update was completed, but agreed last week to resume acceptance with a "truncated" version of the update.

The TR-3 is a major component for the even more extensive update to the F-35, its "Block 4" version that would add several dozen new capabilities to the Lightning II.

Author Experience and Expertise: Peter Suciu

Peter Suciu is a Michigan-based writer. He has contributed to more than four dozen magazines, newspapers, and websites with over 3,200 published pieces over a twenty-year career in journalism. He regularly writes about military hardware, firearms history, cybersecurity, politics, and international affairs. Peter is also a Contributing Writer for Forbes and Clearance Jobs. You can follow him on Twitter: @PeterSuciu. You can email the author: [email protected].

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