10:28 AM EDT, 07/14/2025 (MT Newswires) -- (Updates with company comment in the last paragraph.)

Lockheed Martin ( LMT ) may receive orders for 34 F-35A fighter jets, 10 more than the US Air Force requested for fiscal year 2026, Bloomberg reported Friday.

The US Senate Armed Services Committee plans to boost authorized defense spending by $30 billion above the Trump administration's request, bringing the total to about $991 billion. The additional funding would support expanded shipbuilding and direct the Air Force to acquire more F-35As than initially planned, according to the report.

Overall, the Pentagon requested funding to buy 47 F-35s for the Air Force, Marine Corps, and Navy in fiscal 2026, down from 74 in last year's budget request. Officials attributed the reduction to ongoing challenges with a multibillion-dollar upgrade effort for the aircraft, the report said.

Lockheed is "looking forward to working with the administration and the Congress as the president's fiscal year 2026 budget receives full consideration in the months ahead," a company spokesperson said in an emailed statement to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 473.66, Change: +6.15, Percent Change: +1.32