An alternative to the F-35

I’ve been researching the various fifth-generation programmes, and it strikes me as odd how aside from the possible exception of the PAK-FA there is no real competitor for the F-35 in the global fighter market. Which means from 2017 or so onwards the Eurofighter, Rafale and so on will be effectively shut out of the high-end fighter market.

How can the European aerospace industry take this standing down? A few of them have a stake in the F-35 program but it means peanuts for them in terms of technology gain. Why aren’t France, Sweden, Germany or one of the other nations that haven’t signed up for the F-35 developing an alternative? They already have most of the elements for a 5th gen design from the Eurofighter and Rafale programmes, and if Russia can do stealth so can they.

So does anyone have an idea for such a programme? I think funding issues can be solved by collaborating with an Asian customer that is interested in such a design(like South Korea’s KFX, Japan’s ATDX or the Indian MCA). Any thoughts?