LM Receives $2.2 Bn for F-35 Lot 2 Production
$197 Million for Lot 3 Long-lead Funding
(Fort Worth, Texas, May 22, 2008) -- The United States Department of Defense has authorized the release of funds to buy six conventional takeoff and landing (CTOL) F-35A Lightning IIs for the U.S. Air Force, with provisional approval to purchase six short takeoff/vertical landing (STOVL) F-35Bs for the U.S. Marine Corps following a senior leadership review and the inaugural flight of that variant. The 12 aircraft will be built in the second phase of F-35 low-rate initial production (LRIP 2).
The $2.2 billion contract authorization comes after the Defense Acquisition Board's recommendation to release the funds and proceed with production. "We welcome the board's decision and their vote of confidence in the F-35 program," said Dan Crowley, Lockheed Martin executive vice president and F-35 program general manager. "We're seeing excellent progress on our production line, with 17 preproduction aircraft in assembly flow, the first two production-model F-35s already under way and unprecedented assembly quality across the board."
Long-lead funds of $197 million for LRIP 3 were released on May 14 for at least 18 additional F-35s. The LRIP I contract for the first two F-35A production aircraft was finalized and issued in July 2007.
The first F-35A test aircraft has completed 40 flights and has exceeded performance and reliability expectations. The inaugural flight of the first F-35B is on schedule for late spring/early summer.
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