Prime Minister Scott Morrison said the RAAF's F-35A Lightning II fleet based near Newcastle was now 33 strong and ready to deploy on operations.

As well as servicing RAAF aircraft, BAE Systems Australia's Williamtown maintenance depot will host aircraft from Japan, Korea and Singapore.

"This is about protecting and securing Australia's interests but it's also creating jobs and driving investment right here in the Hunter and across the country too," Mr Morrison said.

"This induction demonstrates the world-leading capability of our local defence industry here in Australia."

More than 50 companies will share in $2.7 billion worth of contracts as part of the F-35 program.

It is understood the program is on budget and on schedule, with work under way on routine structural modifications to improve the airframe.

Defence Minister Linda Reynolds said there were now 41 fully trained RAAF pilots, nine of whom trained on home soil at RAAF Base Williamtown.

"We also have more than 225 trained technicians as the RAAF's F-35A maintenance capability continues to develop."

Lockheed Martin Australia is providing training support for more than 70 personnel to be employed at Williamtown and RAAF Base Tindal.

BAE Systems Australia recently hired 25 former Jetstar employees who had been made redundant as a result of the pandemic.

The first F-35A aircraft arrived in Australia in December 2018, with the first F-35A squadron, No. 3 Squadron, to be operational this year.

All 72 aircraft are expected to be fully operational by 2023.

They replace the ageing F/A-18A/B Hornets which have been in RAAF service since 1985.

Australian Associated Press