S. 4374: Airpower Acceleration Act of 2026

This bill, titled the Airpower Acceleration Act of 2026, includes several measures primarily aimed at enhancing the capabilities of the U.S. Air Force, specifically regarding fighter aircraft procurement and inventory management.

Multiyear Procurement Authority

The bill grants the Secretary of Defense the authority to enter into multiyear contracts for the procurement of specific fighter aircraft models, namely the F-35A, F-35B, F-35C, and F-15EX. This is meant to streamline the purchasing process and potentially reduce costs by committing to long-term contracts rather than annual purchases.

Findings and Reporting Requirements

• The contracts established under this authority would be aimed at meeting specific requirements detailed in existing laws.
• The Secretary of Defense is required to submit a report to Congress within 90 days of the bill's enactment. This report must contain preliminary findings on the contracts and their basis.

Advance Procurement of Key Components

The Secretary of Defense is also authorized to enter contracts for the advance procurement of important components of the F-35 and F-15EX aircraft. This means they can buy essential parts in larger quantities earlier in the process to ensure efficient production.

Modification of Air Force Inventory Requirements

The bill proposes an amendment to existing laws, which will require the Secretary of the Air Force to maintain a minimum total inventory of fighter aircraft. Specifically, it mandates:

• A total fighter aircraft inventory of not less than 1,800 from October 1, 2026, to October 1, 2035.
• A minimum of 1,369 combat-coded fighter aircraft by December 31, 2030.
• A minimum of 1,558 combat-coded fighter aircraft by December 31, 2035.

Definitions of Aircraft Types

The bill further clarifies definitions related to fighter aircraft, including what constitutes a fighter aircraft and the categories for inventory classifications.

F-15EX Aircraft Fleet Expansion

The Secretary of the Air Force is permitted to increase the F-15EX fleet size from 129 to 329 aircraft. However, any F-15EX aircraft bought beyond the initial 129 must be used for renewing and updating the existing F-15E fleet, thus ensuring that the procurement is linked to fleet modernization.

Effective Dates

The new inventory requirements will take effect starting October 1, 2026, aligning with the expected timeline for aircraft procurement and the broader strategic goals of the Air Force.

Relevant Companies

• LMT (Lockheed Martin Corporation) - As a primary manufacturer of the F-35 aircraft, changes in procurement would directly impact its business operations and revenue streams.
• BA (The Boeing Company) - Boeing is responsible for the F-15EX aircraft production, hence increased orders would enhance its production activities and financial performance.