The JSF big bet: F-35 Joint Strike Fighter update

Even as a sputtering global economy has led much of the industrialised world to shy away from risky financial investments, the US Department of Defense (DoD) is charging ahead with its daring USD300 billion plan to build the world's first international stealth fighter.

The stakes are so high that some aviation analysts refer to the F-35 Lightning II Joint Strike Fighter as the 'big bet', meaning that while the potential rewards may be substantial, the risks are equal or greater.

The biggest acquisition programme in Pentagon history, the F-35 project is expected to result in the delivery of three fighter jet variants - a conventional aircraft, a short take-off/vertical landing model and a carrier variant - to the US and eight partner nations including Australia, Canada, Denmark, Italy, the Netherlands, Norway, Turkey and the UK.

If the US military and prime contractor Lockheed Martin manage production and acquisition effectively, the F-35 could help the US military play the lead role in shaping the character of 21st-century airpower.

The delivery of the multirole stealth fighter to US allies would allow the US to seize the initiative in the development of future concepts of operations for air-to-air and air-to-ground missions in hostile airspace. The fighter is also expected to increase interoperability among allied air forces and create new training and maintenance requirements that will foster stronger military-to-military and industry ties. Finally, F-35 production techniques hold the promise of revolutionising stealth aircraft manufacturing.