Lockheed Martin (NYSE: LMT) is huge in Japan -- and in the United Kingdom, too.

Second (and third) only to the United States, the Japanese and British militaries are the two biggest buyers of Lockheed Martin's fifth-generation stealth fighter jet, the F-35 Lightning II. So it came as something of a surprise this summer when Japan and Britain announced that they were teaming up to build their own stealth fighter jet to compete with the F-35.

As Reuters reported at the time, rather than partner with Lockheed Martin, Japan's Mitsubishi Heavy Industries (OTC: MHVYF) and Britain's BAE Systems (OTC: BAES.Y) now plan to build their own sixth-generation fighter together and cut Lockheed Martin out of the deal.

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Source Fool.com