In this article, we look at some of the most expensive fighter jets in the world. You can skip our detailed analysis on trends in the aerospace industry and head over directly to the 5 Most Expensive Fighter Jets in the World.
Fighter jets play a significant role for militaries in securing control over enemy airspace. These jets have evolved considerably from their earliest versions that were seen during World War II, to what we see now.
The first version of fighter jets, also known as the first-generation fighter jets, were recognizable for their straight and unswept wings, and their aircraft did not use avionics for communication and navigation. The Me 262, built by German manufacturer Messerschmitt, was the world’s first operational fighter jet introduced in 1944. Other prominent fighter jets during the era included Lockheed F-80, Gloster Meteor, and Heinkel He 162.
The second-generation of fighter jets catered to the need for more innovation, which resulted in jets being equipped with homing missiles and radars to improve the accuracy and managing aerodynamics, which was previously hard because of high speeds at which these jets traveled. The third-generation jets came to be known for their multi-purpose roles. Not only were they able to carry weapons, but also engage in aerial interceptions, and deploy missiles and bombs.
A major shift in technology and avionics came with the advent of fourth-generation aircraft that equipped fighter jets with infrared capabilities, maneuverability, fly-by-wire, and synthetic radars. These jets were a major advancement in stealth and aerodynamics. The most notable fighter jet of this era was the General Dynamics Corporation (NYSE:GD)’s F-16 Fighting Falcon.
Fifth-generation fighters are the most advanced fighter jets currently in operation, and include using major technologies that were developed during the 21st century, such as stealth, supercruise performance, and low-probability-of-intercept radars. These features made it hard for enemy radars to detect these jets. Examples of fifth-generation fighter jets include Lockheed Martin Corporation (NYSE:LMT)’s F-22 Raptor and F-35 Lightning II, Chengdu J-20 built by China’s Chengdu Aerospace Corporation, and Sukhoi Su-57 used by the Russian Air Force.
Fighter jets are among the most expensive and potent military technologies that countries across the world are deploying to strengthen their defense. Considering how much each aircraft costs, it is very likely that a big chunk of all defense expenditure of $2.24 trillion in 2022 was incurred on procurement of fighter jets. For instance, Finland’s military spending rose 36% between 2021 and 2022, and the increase was mainly attributed to the arms procurement, especially Lockheed Martin Corporation (NYSE:LMT)’s F-35 fighter jets, which made up nearly one-thirds of its defense expenditure that year according to the Stockholm International Peace Research Institute (SIPRI).
Several Middle Eastern countries have racked up their defenses in recent decades and continue to spend heavily on advanced fighter jets. The UAE, which received 80 F-16 fighter jets from Lockheed Martin Corporation (NYSE:LMT) as part of a $6.4 billion deal signed in 2000, has now placed an order for 80 Dassault Rafale F4 multirole jets from France worth $19 billion, which is the largest order ever placed for the French fighter jet.
In 2011, the United States and Saudi Arabia signed a $30 billion deal to provide 84 F-15SA aircraft produced by The Boeing Company (NYSE:BA). The Royal Saudi Air Force received the final delivery of these fighter jets in December 2020. At the time of signing the contract, it was reported on CNN that the program would support 50,000 to 60,000 jobs across the US with more than 600 suppliers across 44 states being involved in making the aircraft for Riyadh.
Future of Fighter Jets
The United States Air Force (USAF) launched a highly classified Next Generation Air Dominance (NGAD) program in 2014 aimed at increasing the lethality of its fighter jets and to maintain aerial superiority. The program plans on launching a sixth-generation fighter jet by 2030 to succeed Lockheed Martin Corporation (NYSE:LMT)’s F-22 Raptor. The NGAD is estimated to cost $16 billion over the next five years between 2023 and 2028. Approximately $1.7 billion were included by the USAF in their 2023 fiscal year budget request. Their ask for FY24 is $2.3 billion.
In August 2022, five companies were awarded a $975 million contract each spanning ten years to work on the NGAD. These included Lockheed Martin, The Boeing Company (NYSE:BA), Northrop Grumman Corporation (NYSE:NOC), Pratt & Whitney, and General Electric.
Given the ongoing research and development on the future of fighter jets in the US, it is safe to say that America is likely to continue to rule the globe in this area of military power for the foreseeable future. The United States has the most number of fighter jets in the world with 1,914, followed by China at a distant second with 1,199. Russia holds the third spot with 773 fighters.
Methodology
The 15 most expensive fighter jets in the world are ranked in ascending order of their estimated prices. Data has been sourced from a variety of credible sources, including AeroTime, Flight Global, Shephard Media, and The Diplomat, among other news agencies.
Let’s now head over to the list of the most expensive fighter jets in the world.
15. Tejas
Price: $29-42 million
India’s light multirole fighter jet, Tejas, was built by the Aeronautical Development Agency to replace the MiG-21 fighters. It is one of the lightest aircraft in its class of supersonic fighters. There are currently three variants of it, starting from $29 million, with the latest and most advanced version called Mk1A being priced at $42 million, as per reports in the Indian media.
14. Sukhoi Su-57
Price: $40-45 million
Sukhoi Su-57 is Russia’s first stealth fighter jet that has been designed to rival its American counterparts, F-22 Raptor and F-35 Lightning II. It is currently the most advanced aircraft in the Russian Air Force’s fleet. The unit cost of the fighter jet has not been made public by Russia, but it is expected to be between $40-45 million, according to a report in The Diplomat magazine. In 2018, Yuri Borisov, Russia’s Deputy Prime Minister then, said in an interview that Moscow does not plan on mass-producing the Su-57 until Russia’s older fighter jets lag behind their western equivalents.
13. F-16 Block 70/72
Price: $63 million
Lockheed Martin Corporation (NYSE:LMT)’s F-16 Block 70/72 is among the most advanced fighter jets from the fourth-generation class. Cheaper variants of this light and maneuverable jet can cost as low as $30 million, according to AeroTime, but the advanced versions are costlier. The Block 70/72 is the most up-to-date iteration of this fighter, and has an estimated price of $63 million per unit. This version comes with superior avionics capabilities, and includes an Active Electronically Scanned Array (AESA) radar and a modernized cockpit along with several other new features.
12. KAI KF-21 Boramae
Price: $65 million
South Korea’s defense sector, in 2022, received a significant boost after the successful first flight of its indigenous KF-21 Boramae fighter jet. Manufacturers claim the advanced multirole fighter jet is stealthier than any other fourth-generation fighter jet. The KF-21 Boramae is Seoul’s second locally produced fighter jet after the FA-50. The Korean military is set to receive 40 of these jets by 2028, with each set to cost about $65 million.
11. F/A-18E/F Super Hornet
Price: $67-70 million
The F/A-18E and F/A-18F Super Hornet, developed by The Boeing Company (NYSE:BA), are variants of the McDonnell Douglas F/A-18 Hornet series. These supersonic, twin-engine fighter jets are equipped with M61A2 rotary cannon and can carry a variety of weapons, including the air-to-air-missiles and surface-to-air-missiles. In addition to the United States Air Force, other primary users of The Boeing Company (NYSE:BA)’s F/A-18E/F Super Hornet are Australia and Kuwait. AeroTime estimates the per unit cost of these jets to be $66.9 million, while TS2 Space quoted it at $70.5 million.
10. Shenyang FC-31
Price: $70 million
The Shenyang FC-31 is China’s prototype multirole fighter jet designed to serve the same purpose as western fifth-generation fighter jets, and can be used for various missions like ground attack, reconnaissance, and air security. According to defense experts, Shenyang FC-31 is likely to be used as an aircraft carrier based naval fighter jet. Its price is estimated to be $70 million, as per AeroTime.
9. Saab JAS 39E/F Gripen
Price: $85 million
The JAS 39 Gripen was known to be among the cheapest 4 or 4.5 generation fighter jets with its C and D variants. That has now changed with the launch of its E and F versions. These upgraded single-engine, supersonic fighter jets manufactured by Swedish defense company Saab AB are now one of the most expensive fighter jets in the world after improved radars, avionics, and its advanced weapon systems. While prices may vary based on specifications, an average Saab JAS 39E/F Gripen can cost about $85 million per unit according to AeroTime, which is still significantly lower than Lockheed Martin’s F-35 and F-22 fighter jets.
8. Sukhoi Su-35
Price: $85 million
The Sukhoi Su-35 is a highly advanced Russian multirole fighter jet, which is a significant evolution of the Su-27 after incorporating several improved features in avionics, maneuverability, radar systems, and weapon capabilities. The Russian Air Force has 110 of these jets in its inventory. The aircraft has also had immense export success, and continues to do so. In 2019, China received 24 Su-35 fighter jets from Russia for $2.5 billion. The Diplomat estimated the price per unit to be $85 million. Last month, the Voice of America (VOA) reported that Iran had also finalized a deal to procure these fighters from Russia. The number of units and monetary aspects of the contract were not disclosed.
7. TAI TF Kaan
Price: $100 million
Turkish stealth, twin-engine air superiority fighter jet, TAI KAAN, is being developed by the Turkish Aerospace Industries (TAI) to replace its fleet of General Dynamics Corporation (NYSE:GD)’s F-16 Fighting Falcon. The first ground running tests of the prototype of this combat aircraft were held in March this year. According to the manufacturers, the TAI TF Kaan is likely to be priced above $100 million.
6. Chengdu J-20
Price: $110-120 million
Chengdu J-20 is a stealth fighter jet manufactured by the Chengdu Aerospace Corporation in China. Designed as an air superiority fighter, it is also known as the Mighty Dragon, and is among the most expensive fighter jets in the world. The J-20 made its first flight in 2011, before being officially revealed in 2016. The aircraft entered service with the Chinese military in 2017. It comes in three variants, J-20A, J-20B, and J-20S.
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Disclosure: None. 15 Most Expensive Fighter Jets in the World is originally published on Insider Monkey.
