Lockheed, Pentagon Strike Initial Deal to Produce 850 F-35 Jets
The Department of War and Lockheed Martin revealed a groundbreaking framework agreement for the multiyear production and maintenance of the F-35 Lightning II.
The Department of War and Lockheed Martin revealed a groundbreaking framework agreement for the multiyear production and maintenance of the F-35 Lightning II.
"This multiyear framework strengthens the way we can plan and invest in the F-35 enterprise," says Lockheed Martin Chairman, President and CEO Jim Taiclet.
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"With the greater certainty that comes from the US government's transformative approach to F-35 production and sustainment, we can make the upfront investments needed to expand capacity, improve efficiency, and build a more resilient supply chain. That's good for the taxpayer, good for our suppliers and, most importantly, good for the United States and its allies”.
Should multiyear authority and related appropriations be approved in the upcoming months, the F-35 Joint Program Office and Lockheed Martin will collaborate to finalize contract details, pricing, and timelines through a formal contract award, addressing the government's need for a stable, cost-effective, and robust fighter jet program.
This initiative aims to save taxpayers billions throughout the F-35's lifespan by utilizing long-term pricing and discounts from industry volume.
The framework agreement directly tackles the objectives of the Department of War and Congress to enhance F-35 readiness by: Offering reliable, long-term procurement strategies that remove the necessity for additional funding for managing obsolescence and production tools.
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Achieving significant procurement efficiencies and discounts that result in real savings for taxpayers. Facilitating transparent, data-informed choices via cohesive analytics that connect budget contributions to preparedness results. Delivering immediate insight into parts stock and preparedness measurements through unified analytics.
“Our new multiyear framework gives suppliers stability to plan for the future and invest with confidence, improving readiness across the F-35 fleet," said OJ Sanchez, president of Lockheed Martin Aeronautics. "This, in addition to the investments Lockheed Martin is making to the global spares pool, will directly translate into higher mission capable rates and a more resilient supply chain – critical capabilities the warfighter needs to meet today's mission and prepare for tomorrow's threats”.
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Over 1,375 F-35s are presently deployed worldwide, and the fleet has exceeded one million flight hours. The battle-tested F-35 is deployed at 42 locations globally, with 13 countries utilizing it on their own territory. With adversaries progressing and older aircraft becoming obsolete, the F-35 is essential for preserving air superiority going forward.
Lockheed Martin is a worldwide defense technology firm fostering innovation and promoting scientific exploration. Our comprehensive mission solutions and 21st Century Security® vision expedite the implementation of groundbreaking technologies to guarantee that those we support remain consistently prepared.