Sources: 
Israel's defense ministry has approved a significant procurement plan for new military aircraft, securing a fourth squadron of F-35s and a second F-15IA squadron as part of a broader $119 billion initiative to strengthen its military readiness in anticipation of regional threats. The deal, finalized by the Ministerial Committee on Procurement, ensures enhanced air capabilities amid ongoing regional tensions.
Outgoing Israeli Air Force chief Maj. Gen. Tomer Bar emphasized that this addition of fighter jets will
“add significant strength” to the Israel Air Force (IAF).
This procurement results from extensive evaluations related to operational necessities and the evolution of threats in the Middle East, showcasing close cooperation with the United States military during recent operations.
According to Israel's Prime Minister Netanyahu,
“Israel is stronger than ever, and Israel must always be much stronger than our enemies,” stressing that these aircraft will fortify Israel's air superiority. The decision is viewed as a strategic component for national security, especially considering Israel's ongoing military operations and the need for continued readiness in a complex security landscape.
The announcement of this deal aligns with Israel's broader military strategy, focusing on ensuring the IAF has
“the tools, capabilities, and strength to operate anywhere, at any time,” as stated by Defense Minister Yoav Katz.
Israel aims to have a fleet robust enough to face future challenges effectively, reinforcing its position in a region marked by instability.
Additional context includes previous contracts like the $8.6 billion deal for F-15IAs, enhancing Israel's comprehensive approach to military procurement.
Sources: 
Israel's Ministerial Committee on Procurement approved the purchase of two new squadrons of F-35s and F-15IAs from Lockheed Martin and Boeing, a deal worth billions aimed at bolstering military capabilities, according to outgoing Air Force chief Maj. Gen. Tomer Bar, who emphasized their strategic importance.