Senate Panel Seeks $30 Billion Hike In Pentagon Budget For Shipbuilding, 10 More Lockheed Martin F-35 Jets

The Senate Armed Forces Committee has sought an increase in the Pentagon's budget in order to increase the shipbuilding capacity of the United States, as well as acquire new Lockheed Martin Corp. (LMT) F-35 fighter jets.

Lockheed’s shares were up 0.5% at the time of writing. Stocktwits data shows the retail sentiment toward Lockheed stock was in the ‘bearish’ territory over the past week.

The panel’s report is largely in line with President Donald Trump’s defense agenda, but it seeks to add the heft of congressional oversight to the military structure.

The Senate panel’s measure would take the total defense budget to $991 billion for the year starting October, up from $961 billion in the current year.

“My colleagues and I have prioritized reindustrialization and the structural rebuilding of the arsenal of democracy,” said Roger Wicker (R-Miss.), Chairman of the Senate Armed Forces Committee.

The Pentagon requested authorization for the purchase of 47 F-35 fighter jets for fiscal year 2026 for the Air Force, Navy, and Marine Corps. Of this, 24 would go to the Air Force. However, the Committee sought to allocate 10 additional F-35A jets for the Air Force.

Speaking about the report, Senator Jack Reed (R.I.) said the measure “invests in the servicemembers, technology, and capabilities we need to deter our adversaries and defend our national interests.”

The Pentagon’s request for 47 F-35 jets for FY26 is down from 74 in the budget request for the previous year.

Lockheed’s stock is down nearly 4% year-to-date, but up a little over 1% in the past 12 months.

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