Lockheed Martin plans to reduce per unit cost of F-35 fighter jet to $80 million by 2020.
With the incorporation of lessons learned, process efficiencies, production automation, facility and tooling upgrades, supply chain initiatives and more – the F-35 enterprise has already significantly reduced costs and improved efficiency, the company said in a statement Monday.
Last Friday, Lockheed Martin delivered the sixty sixth F-35 aircraft for the year, meeting the joint government and industry delivery target for 2017.
Sixty-six F-35 deliveries in 2017 represents more than a 40 percent increase from 2016.The F-35 enterprise is prepared to increase production volume year-over-year to hit full rate of approximately 160 aircraft in 2023, , the company said.
The current unit cost of F-35A is $94.6 million (low rate initial production lot 10 (LRIP 10) including F135 engine). The full production in 2018 is to be $85 million. The F-35B will costs $122.8 million per unit (LRIP 10 including engine) and the F-35C costs $121.8M (LRIP 10 including engine) a piece.
According to the press statement, the price of an F-35A has come down more than 60 percent from the first contract. Touch labor has been reduced by about 75 percent over the last five years and production span time has decreased by about 20 percent since 2015.
However, the US Government Accountability Office in its October 2017 report stated that US Department of Defense has taken actions to reduce F-35 fighter sustainment costs, but the estimated life cycle costs have increased and are not fully transparent to the military services.
The report also stated that the shortage of spare parts for the F-35 aircraft has degraded readiness.
The aircraft were not able to fly about 22 per cent of the time in the past year due to shortage of spares.
Lockheed Martin is being awarded a nearly $136 million contract for new construction DDG AEGIS weapon system J7 baseline development and integration in support of the Japan Maritime Self Defense Force. This contract involves foreign military sales to Japan and work will be performed at various locations in the United States and Japan and is expected to be completed by December 2018, a US DoD release said
Aerion and Lockheed Martin announced a Memorandum of Understanding (MOU) Firday to explore the joint development of the world's first supersonic business jet, the Aerion AS2. Over the next 12 months, the companies will work together to develop a framework on all phases of the program, including engineering, certification and production
Lockheed Martin has test fired production-configuration Long Range Anti-Ship Missiles (LRASM) from a US Air Force B-1B bomber. During the test over the Sea Range at Point Mugu, California, B-1B aircrew simultaneously launched two LRASMs against multiple maritime targets, meeting the primary test objectives, including target impact, the company said in a statement Wednesday
Lockheed Martin and the North Atlantic Treaty Organization (NATO) Support and Procurement Agency (NSPA) have signed a five-year agreement for the agency to purchase Enhanced Laser Guided Training Rounds (ELGTRs) on behalf of member countries. The follow-on agreement is in effect through 2021 and provides for the purchase of up to 3,000 ELGTRs a year for the next five years, the company said in a statement Wednesday
Korea Aerospace Industries (KAI) is considering ways to cut costs to make its T-50A aircraft competitive in the United States Air Force (USAF) trainer jet competition, said the new chief of Korea Aerospace Industries on Friday. At a press conference held at KAIs headquarters in the Korean city of Sacheon, the companys new President and CEO Kim Jo-won said KAI is seeking ways to adjust the unit price of the T-50 advanced trainer jet at the request of its US partner Lockheed Martin
The Singapore government is reportedly evaluating a future purchase of Americas next-generation F-35 fighter aircraft, Lockheed Martins executive said Thursday on the sidelines of on-going Singapore Airshow. "They, I think, are seriously evaluating the F-35, as well as other platforms I'm sure," Lockheed International Executive Vice President Rick Edwards told Reuters this week at the Singapore Airshow, adding, "when they are ready, we will respond
Lockheed Martin is being awarded a $154 million contract to provide US and United Kingdom (UK) Trident II (D5) Strategic Weapon System Shipboard Integration Increment 8, Columbia and Dreadnought efforts for the navigation subsystem. This contract will provide the required navigation hardware and software design, testing, installation, and deliverables for the shipboard integration increment, along with the correlating fleet support services for the current fleet ballistic missile navigation subsystem, US Department of Defense said in a statement Wednesday
Lockheed Martin has won $65 million modification contract to extend services for performance-based logistics in support of the Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensors program. Work is expected to be complete by Dec
Lockheed Martin has been awarded $110 million contract for the gray wolf science and technology demonstration effort. The contract provides for the design, development, manufacture, and testing of prototype-affordable cruise missiles to advance networked collaborative operations technologies for defeat of enemy integrated air defense systems, US department of defense said in a statement Monday
Lockheed Martin has been awarded a $961 million contract for sustainment, modernization and development. Work is expected to be completed by Dec
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