U.S. F-35 fighter modernization could cost $16 billion through 2024

WASHINGTON (Reuters) - The Pentagon estimates it will cost nearly $16 billion to modernize the fleet of F-35 jets through 2024, a U.S. lawmaker said on Wednesday, citing information provided by the Pentagon on the stealth fighter jet program.

The F-35, which is made by Lockheed Martin Corp, has been in production since 2006 and modernization expenses were expected. More than 270 of the jets are currently flying.

The F-35 has been widely criticized for being too expensive, including by President Donald Trump and other U.S. officials, who have also pointed to numerous production delays and cost overruns. Wednesday was the first time the $16 billion modernization estimate was made public.

Source: Yahoo