Australia will buy 58 more F-35 Joint Strike Fighters (JSF) at a cost of more than $12 billion after the Federal Government gave the go ahead for the purchase on Tuesday.

Prime Minister Tony Abbott says the JSF is the most advanced fighter in production anywhere in the world and will give Australia the "regional air combat edge" when it takes to the air from 2020.

India has recently unveiled its own advanced fighter jet, while China is reportedly set to revamp its air force capabilities with a new stealth fighter and Indonesia has a number of Russian-built jets at its disposal.

Here is how Australia's F-35s - billed as the smartest fighter jets on the planet - stack up against our regional neighbours' air forces.

Australia's F-35 Lightning II

Jointly developed with US and other countries

Jointly developed with US and other countries Max speed: Mach 1.6 (1,960kph)

Max speed: Mach 1.6 (1,960kph) Range: 2,200km

Range: 2,200km Wingspan: 10.7m

Wingspan: 10.7m Weapons: 25mm GAU-22/A cannon, air-to-air missiles, guided bombs

Weapons: 25mm GAU-22/A cannon, air-to-air missiles, guided bombs Stealth capabilities: Electronic radar jamming, advanced sensors, radar absorbing external coating

An F-35 Joint Strike Fighter, the kind purchased by Australia. ( ADF/Lockheed Martin )

China's Chengdu J-20

Only a handful of prototypes thought to exist

Only a handful of prototypes thought to exist Max speed: Mach 1.5 (1,837kph)

Max speed: Mach 1.5 (1,837kph) Range: 1,563km

Range: 1,563km Wing span: 12.88m

Wing span: 12.88m Weapons: Short- and long-range air-to-air missiles

Weapons: Short- and long-range air-to-air missiles Stealth capabilities: The engine nozzle design reportedly makes it less capable of avoiding radar detection.

An aircraft reported to be a J-20 stealth fighter, China's next-generation jet. ( Reuters )

Indonesia's Sukhoi Su-30 'Flanker'

Russian-made multirole strike fighter

Russian-made multirole strike fighter Max speed: 2,000kph

Max speed: 2,000kph Range: 3,000km

Range: 3,000km Wing span: 14.7m

Wing span: 14.7m Weapons: Eight-tonne payload can include guns, missiles, and bombs

Weapons: Eight-tonne payload can include guns, missiles, and bombs Indonesia also has Sukhoi Su-27s as well as ageing US-built F-5 Tigers.

An Indonesia Air Force Sukhoi SU-30 jet in 2007. ( Wikimedia )

India's Tejas jet

Max speed: 1,350kph-1,715kph

Max speed: 1,350kph-1,715kph Range: 3,000km

Range: 3,000km Wing span: 8.2m

Wing span: 8.2m Stealth capabilities: Small, therefore harder to detect; radar absorbent material in plane's coating

Stealth capabilities: Small, therefore harder to detect; radar absorbent material in plane's coating Weapons: 23mm twin-barrel GSh-23 cannon, air-to-air, air-to-surface and anti-ship missiles

An Indian Light Combat Aircraft (LCA) 'Tejas'. ( AFP )

Sources: The New York Times, The Wall Street Journal, airforce.gov.au, tejas.gov.in, sukhoi.org