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There are a lot of good reasons: Age. F15 was designed in the 1960s. F16/YF17/F18a-d designed in 1970-early 1980s. They have evolved wonderfully, but they are still dated
Harrier: the f35b replaces it. HUGE improvement in performance and safety. Harrier/AV8 is the most difficult plane to fly. It loss rate is high. F35B uses 21st century controls to tame the beast.
Stealth: ....
F22 vs F15 and everything else. No contest.
Cost: i don't like how politians roll up a 3000 engine program, $350b over 20-30 years and claim this is outragous. How much was the deficit this year? But seriously, the capability gained is immense. And it eventually. Will be the same standard as is the F16-F18. It's time to invest in our future 20 years from now. By then the F16 will be 60+ years old.
Historical: all future programs have been "the most expensive ever" inflation, capability, computers and software all increased so this is enevitable. The commonality between the F35a b and c models cost more now, but you got three different aircraft with huge commonality. Cheaper than developing three different aircraft
Competition: the goal is to never lose. Bring the best aircraft/pilots and you have the advantage. Unfortunately, everyone knows this; and are working on it. Time to upgrade is when you don't "have to"
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