Jan 28 (Reuters) - A F-35 fighter jet crashed during the landing phase of a training exercise at the Eielson Air Force Base in Alaska on Tuesday, but the pilot was safe after ejecting from the aircraft, the Associated Press reported.

The pilot experienced an "in-flight malfunction," U.S. Air Force Colonel Paul Townsend, commander of the 354th Fighter Wing, told a press conference, according to the report.

Eielson Air Force Base said in a statement that an incident occurred on Tuesday afternoon, resulting in "significant damage" to the aircraft, but it did not name the model.

The pilot was safe and transported to the Bassett Army Hospital, according to the statement.

Eielson Air Force Base did not immediately respond to Reuters' request to confirm the aircraft involved was a F-35 fighter jet.

"I can assure you the United States Air Force will conduct a thorough investigation in hopes to minimize the chances of such occurrences from happening again," Townsend said in the statement.

The F-35 is the most expensive U.S. defense program and Lockheed Martin's LMT.N biggest revenue generator, contributing about 30%.

Lockheed said earlier on Tuesday it would be less profitable than expected in 2025, in part due to a delayed rollout of upgrades to F-35 fighter jet that is vital to its bottom line.

The Pentagon plans to spend $1.7 trillion on the F-35 program, including buying 2,500 planes in the coming decades.

(Reporting by Chandni Shah in Bengaluru; Editing by Jamie Freed)

((Chandni.shah@thomsonreuters.com;))