The Royal Australian Air Force says it expects to acquire 100 of the fighter aircraft.
But the project in the United States has been troubled by cost overruns and delays.
Mr Smith, who is in the US for talks about the joint strike fighters and other matters, says Australia has not committed to buying more than 14 of the aircraft.
"We've committed to buying 14 - we've made that clear," he said.
"We also are in the market for joint strike fighters beyond 14 but we haven't placed any firm order or commitment for any more than 14. Obviously, we want the project to be successful [but] we are very conscious that there have been both cost and schedule delays."
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