In Defence and Peace Economics, Volume 17 (2006), we reported the interim results of our study on the economic effects for the Dutch aerospace industry of participation in the development and production phases of the F-35 Joint Strike Fighter (JSF) programme (recently been renamed as the F-35 Lightning II). This article is based on recent data from interviews with Dutch industry, conducted in 2006. The main contributions, compared with our interim results, are: (1) a more reliable estimation of expected turnover and employment effects; (2) numerous examples of knowledge development by participation in the F-35 programme; and (3) the perspectives of the main contractors - Lockheed Martin, Pratt & Whitney and Rolls-Royce - on knowledge development by Dutch companies. Our results indicate that Dutch participation in the F-35 programme contributes to a substantial increase in turnover, knowledge-intensive employment, powerful technological development and an improved long-term positioning in the global aerospace industry.