can some one explain a bit more about the new engine thats being proposed?
how much more of an improvement will it be?
There's kinda 3 engines being proposed:
The one you might have heard P&W talking about today is the "F135 Growth Option 1", which would increase thrust by 6-10% or have a 5% reduction in fuel burn depending on the stage of flight, with some kind of power and thermal upgrades that we haven't really heard numbers for. The F135 GO-1 is a drop-in replacement module that's supposed to be cost neutral - ie the cost of an F-35A's F135 engine would remain $12.3 million to purchase; P&W also stated in today's hearing that sustainment costs would be the same, though I don't know that's entirely true due to the mixed logistics that'd occur. Also obviously upgrading existing engines to the GO-1 standard would cost money.
Beyond that there's also adaptive cycle engines being developed as part of the AETP programs.
As part of that competition, GE has the XA100 engine and P&W has the XA101 engine, although P&W are calling their adaptive cycle engine for the F-35 the F135 Growth Option 2 (GO-2). GO-2 offers a 20% fuel reduciton and 15% overall thrust improvement; the F-35B would also get some kind of offering that increases the vertical thrust of either the lift fan, or or total vertical thrust by 2.5-5% (Aviation Week describes it as the lift fan's thrust, but that seems an odd metric to use).
GE's XA100 is meant to offer a 35% increased range / 25% reduced fuel burn, and at least 10% additional thrust; note however that while the XA100 and XA101 engines were designed to fit an F-35A's engine bay dimensions, there's a
chance that actually integrating GE's XA100 into an F-35 could force some minor decrease in performance specs. Also note that the adaptive cycle engines (GO-2 / XA101, and the XA100) have appreciably greater capability to provide thermal management as they essentially have larger bypass ducts and can enable greater bypass flow on demand when the extra thrust isn't needed.
Costs haven't been provided for the adaptive cycle engines, but you can expect that they'd cost more to produce, and it's unclear if their sustainment cost impact would be positive or negative (less fuel burn, but probably higher maintenance costs).
So to reiterate, there's:
1. F135 GO-1 - an iterative, theoretically mostly cost-neutral upgrade
2. F135 GO-2 / XA101 - adaptive cycle engine from P&W, spec'd for the F-35
3. XA100 - adaptive cycle engine from GE, better fuel burn specs than GO-2, but possibly subject to change