Lockheed Martin hits 2019 F-35 delivery target of 131 jets

FAN Editor
Lockheed Martin's logo is seen during Japan Aerospace 2016 air show in Tokyo
FILE PHOTO: Lockheed Martin’s logo is seen in Tokyo, Japan, October 12, 2016. REUTERS/Kim Kyung-Hoon

December 30, 2019

(Reuters) – Lockheed Martin Corp <LMT.N> said on Monday it has reached its 2019 target to deliver 131 F-35 fighter jets to the United States and its allies, as the defense contractor built 47% more jets this year.

The world’s largest defense contractor delivered a total of 134 of the stealthy jets this year and aims to deliver 141 F-35s in 2020.

The most common variation of the jet, the F-35A, now costs $77.9 million, beating its goal of lowering the price to below $80 million a year earlier than expected.

The F-35 program, which makes up about 25% of Lockheed’s annual revenue, has long aimed at expanding the fleet to more than 3,000 jets and bringing the unit price of the F-35A below $80 million through efficiencies gained by bulk orders.

Earlier this year, Pentagon announced pricing details for its agreement with Lockheed that lowers the cost of the F-35 jets it plans to purchase through 2022 by 12.7%, which may encourage other nations to buy the warplane.

In 2019, international deliveries jumped 43% to 30 jets for international partner nations.

More U.S. allies have been eyeing a purchase of the stealthy jet including Finland, Switzerland and the United Arab Emirates.

The F-35 comes in three configurations: the A-model for the U.S. Air Force and U.S. allies, a F-35 B-model which can handle short takeoffs and vertical landings and carrier-variant F-35C jets for the U.S. Navy.

(Reporting by Rachit Vats in Bengaluru; Editing by Aditya Soni and Richard Chang)

Free America Network Articles

Leave a Reply

Next Post

Ousted Nissan Chairman Carlos Ghosn reportedly flees house arrest in Tokyo for Lebanon

Carlos Ghosn, former chairman of Nissan Motor Co., leaves his lawyer’s office in Tokyo, Japan, on Thursday, May 23, 2019. Toru Hanai | Bloomberg | Getty Images Carlos Ghosn, Nissan’s ousted chairman who was awaiting trial on criminal charges in Japan, flew into Lebanon on Monday evening, France’s Les Echos […]