Elon Musk’s recent comments on the F-35 fighter jet suggest he has plans to cut government spending, especially in defense. Musk, who was just named co-lead of President-elect Donald Trump’s new Department of Government Efficiency (DOGE), criticized investing in manned jets as drones become more advanced. Musk made his remarks during a discussion about how crewed aircraft are becoming less relevant in modern warfare.
He said using human pilots in the F-35 is “inefficient.” This hints that defense spending priorities could change under the new administration. The F-35 program has already been criticized for its $2 trillion lifetime cost projection and ongoing maintenance issues. Musk’s comments, along with his new job, suggest the F-35 might be a major target as the government tries to reduce spending.
The market reacted quickly to Musk’s statements. Lockheed Martin, the main maker of the F-35, saw its shares fall by 3.75%.
Musk’s view on manned jets
The S&P 500 Aerospace & Defense index dropped by more than 1%. News about a possible ceasefire deal between Israel and Hezbollah also impacted the defense sector. Musk has not shared specific plans to target the F-35 or other crewed aircraft.
However, an op-ed he co-wrote with DOGE co-lead Vivek Ramaswamy pointed to the Defense Department’s large $841 billion budget as an area for potential cuts. Shifting support from crewed jets to drones is seen as a difficult transition, particularly in key combat zones like the Indo-Pacific. Current drone technology might not be as effective there yet.
Musk has a history of achieving things many thought were impossible, as shown by SpaceX’s progress. This could be crucial to DOGE’s goals. However, making such changes within the complex federal government system will be a major challenge.
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