The first F-16 was developed in 1974. They wanted a lightweight fighter that wouldn’t cost as much as the fighters they had at the time. They also needed a way to have a bomber without going out and building another bomber which would cost millions more. So they decided to turn the F-16 into a fighter/bomber and it all worked out. Here’s how. The Lockheed F-16 Fighting Falcon They F-16 Fighting Falcon was developed and produced by General Dynamics Corp, until they went bankrupt. Then eventually Lockheed took over the productio ....