Lockheed Martin and the U.S. Department of Defense have reached a handshake agreement on the next lot of F-35 joint strike fighters, an agreement that includes the first multi-year procurement for the jet’s customers.
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U.S. Marine Corps Lt. Col. Richard Rusnok, commanding officer of Marine Fighter Attack SquadronPhoto by: VMFA
In a statement, Pentagon acquisition head Ellen Lord called the agreement, worth $34 billion over lots 12, 13 and 14 for 478 aircraft, a “historic milestone.”
The agreement includes 157 jets in lot 12, and comes with an estimated 8.8 percent Unit Recurring Flyaway cost savings from the previous lot. Lord estimated that the cost will drop around 15 percent from lot 11 to lot 14.
“This framework estimates the delivery of an F-35A for less than $80M in Lot 13, one year earlier than planned," Lord said. "This agreement symbolizes my commitment to aggressively reduce F-35 cost, incentivize Industry to meet required performance, and to deliver the greatest capabilities to our warfighters at the best value to our taxpayers.”