WASHINGTON, Feb 16 (Reuters) – U.S. President Joe Biden wants an 18% cut in the number of F-35 jets the Pentagon buys next year after Congress’ cap on the size of the upcoming defense budget compelled the administration to find savings, two sources familiar with the situation said.

The Pentagon order for Lockheed Martin’s stealthy fighter will drop to below 70, down from an expected order of 83, for an estimated $1.6 billion drop in spending on jets.

The drop in F-35 orders could impact the big defense contractor, which earns about a quarter of its revenue from the jet program. International demand for the jets, which cost somewhere between $80 million to about $120 million each depending on the type, remains strong.

Photo Jeroen Vogelaar