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By Stephen Sher

JERUSALEM, May 3 (Reuters) - Israel's Defense Ministry said on Sunday that it had approved a plan to purchase two new squadrons of advanced F-35 and F-15IA fighter jets from Lockheed Martin and Boeing worth tens of billions of shekels.

The ministry said the deal, which was approved by the ministerial procurement committee, is a first step in a 350 billion shekel ($119 billion) plan to bolster Israel’s military capabilities and “raise the level of readiness for ten years full of security challenges.”

She added that the two new squadrons will form the cornerstone of the Israeli army’s long-term development to counter regional threats and maintain Israel’s strategic air superiority.

“Besides the urgent supply needs in wartime, we have a responsibility to act now to ensure the IDF’s military superiority for the next ten years and beyond,” said Amir Baram, Director General of the Israeli Ministry of Defense, referring to the army.

He added that the latest war with Iran "underscored the importance of the strategic relationship between the United States and Israel, and the necessity of having an advanced air force."

Under the deal, Israel will purchase a fourth squadron of F-35 fighter jets from Lockheed Martin and a second squadron of F-15IA fighter jets from Boeing.

In December, Boeing secured an $8.6 billion contract with Israel for 25 new F-15IA fighter jets and an option to purchase 25 more.

Baram said the next step would be to move forward with finalizing agreements with the U.S. government and military counterparts.

The United States and Israel launched airstrikes against Iran on February 28, but a fragile ceasefire has been in place since April 8. The US Navy continues its blockade of Iranian ports.

Israeli Defense Minister Yisrael Katz said that the Iran war demonstrated the strength of the air force and its crucial role in protecting Israel.

He added, "The lessons of that campaign require us to continue strengthening our air forces, to ensure air superiority for decades to come."

Israeli aircraft launched attacks on Palestinian Islamic Resistance Movement (Hamas) fighters in Gaza and Hezbollah fighters in Lebanon in the aftermath of the Hamas-led attack on Israel on October 7, 2023.

Katz explained that the new aircraft will lead to a major technological leap in integrating autonomous flight capabilities and next-generation defense systems, and will consolidate Israeli military dominance in space.

He said, "Our mission is clear: to ensure that the IDF has the tools, capabilities, and strength necessary to operate anywhere, anytime... We will continue to invest, strengthen our capabilities, and stay ahead of our enemies to maintain Israel's security today and in the future."

(1 US dollar = 2.9384 shekels)