Big bucks for Australian jet industry

Australia has been awarded more than $1 billion in production contracts for the F-35 joint strike fighter program, and the government wants more.

Australia's role in manufacturing parts to be fitted to every F-35 aircraft across the globe involves more than 50 companies sharing in production contracts and is expected to create 5000 jobs by 2023, Defence Industry Minister Christopher Pyne said on Tuesday.

"When I travel to the US in April I will be arguing for more work for Australia. We have the capability and we deserve the work, he said.