The Australian government has approved the acquisition of an additional 58 F-35 Lightning II Joint Strike Fighter aircraft, Prime Minister Tony Abbott announced on Wednesday.

The F-35 will replace the F/A-18A/B Classic Hornet aircraft which have been the backbone of Australia's air combat capability for over three decades. These aircraft have delivered exceptional service to Australia's security but will be withdrawn from service by 2022.

The new 58 F-35 aircraft, in addition to the 14 already approved in 2009, will provide the Royal Australian Air Force ( RAAF) with a total of 72 aircraft to form three operational squadrons and one training squadron.

According to statement, the government will also consider the option of acquiring an additional squadron of F-35 aircraft to replace the Super Hornets in the future.

The total cost of 12.4 billion AU dollars (11.6 billion US dollars) for this acquisition includes the cost of associated facilities, weapons and training.

Abbott also said that Australia will purchase F-35 to ensure Australia maintains a regional air combat edge and provide a major boost to the Australian Defence Force's (ADF) intelligence, surveillance and reconnaissance capabilities.

"Acquiring F-35 aircraft will reinforce the ADF's ability to operate seamlessly with US forces and Australia's capacity to continue supporting our shared strategic interests under the US alliance," he said.

According to Abbott, Australia has been working with the United States as a partner in the Joint Strike Fighter programme since 2002.

As a result of the Howard government's decision to join during the development phase, Australian defence industry has been awarded over 355 million AU dollars (332 million US dollars) in work and stands to win well in excess of 1.5 billion AU dollars (1. 4 billion US dollars) in JSF-related production and support work over the life of the programme, creating long-term advanced manufacturing and engineering jobs.

"The acquisition will bring significant economic benefits to Australia, including in regional areas and for the local defence industry with more jobs and production for many locally-based skilled and technical manufacturers," Abbott said.