December 2, 2008: Development costs for the new U.S. F-35 fighter-bomber will now go up a third, to $60 billion. That means the average development cost of the estimated 5,000 F-35s to be built, will be about $12 million each. The additional development costs are accompanied by an additional two years before the aircraft enters service. Production costs will average about $84 million. With a share of development costs, that makes the per aircraft cost $96 million.

Like the F-22 fighter, the F-35 is stealthy, and is stuffed with lots of new technology. Most (about 60 percent) of the F-35s will be used by foreign nations. The rising cost of the F-35 brings with it reluctance to buy as many aircraft currently planned. The success of smart bombs in Iraq and Afghanistan has also made it clear that fewer aircraft will be needed in the future. In any event, it's likely that F-35s are end up costing more than $100 million each.