Australia will have to pay A$70m (US$60m) for each advanced joint strike fighter (JSF) aircraft according to Lockheed Martin JSF programme general manager Tom Burbage.
While updating the government on JSF progress, Burbage said the price will not be as high as the previously claimed A$133m an aircraft, according to ABC Television.
Australia is buying the conventional take-off and landing version, which is least the expensive of the three JSF variants.
The F-35 Lightning JSF is an advanced stealth multirole combat aircraft, which will be used by the US and allied air forces to around mid-century.
Australia will acquire up to 100 aircraft, at a cost of about A$16bn (US$13bn), with the first aircraft scheduled to enter service in 2018.