Lockheed Martin has confirmed Peru’s selection of 24 F-16C/D Block 70 fighter jets for $3.5 billion, doubling the initial 12-aircraft offer of $3.42 billion by just $80 million. The Fuerza Aérea del Perú signed the contract on April 21, 2026, resolving days of tensions with the U.S. over budget constraints.
This adjustment aligns precisely with Peru’s allocated funds for 24 new combat aircraft, halving the effective unit cost and enabling phased payments: 12 jets for $2 billion in 2026, with 30% already approved, and the rest for $1.5 billion in 2027.
The deal bolsters Peru’s air force modernization, replacing aging fleet with advanced Block 70 variants featuring Northrop Grumman’s APG-83 AESA radar for 5th-generation capabilities, Automatic Ground Collision Avoidance System, and conformal fuel tanks extending range by 60%.
These enhancements provide superior situational awareness, all-weather precision targeting, and 12,000-hour airframe life, ensuring over 40 years of service with high operational flexibility and reduced refueling needs.
The agreement underscores Lockheed Martin’s competitive edge in Latin American defense markets, securing a key export amid regional competition.