Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Lockheed Martin to ramp up F-35 production

The global defence contractor has announced it aims to make 169 F-35 fighter jets in 2022.

The global defence contractor has announced it aims to make 169 F-35 fighter jets in 2022.

Lockheed Martin has confirmed it will ramp up production and delivery of F-35 aircraft in 2022 following supply-chain disruptions induced by the COVID-19 pandemic.

Advertisement
Advertisement

The company is expected to deliver between 133 and 139 jets this year, increasing to 169 in 2022 and plateauing at 175 thereafter. Lockheed Martin increased its outlook for 2021 sales and profit as it reported a better-than-expected quarterly performance.

The F-35 fighter jet producer increased the midpoint of its full-year revenue outlook slightly to US$68 billion, which is still below Wall Street's average estimate of US$68.17 billion.

Despite bipartisan concern after US President Joe Biden proposed a flat defence budget for 2022, Lockheed chief financial officer Ken Possenriede said it was in line with the company's expectations. 

"We believe once we get more details, we'll see that a lot of our programs are in line with what our customers want," Possenriede said.

Despite calls from progressive Democrats to reduce Pentagon spending, the proposal suggested funding for the Department of Defense on an inflation-adjusted basis at US$715 billion.

PROMOTED CONTENT

Lockheed Martin’s F-35 program includes the delivery of 72 jets to the Royal Australian Air Force.

Last year, the RAAF accepted the 30th F-35A aircraft ordered by the Commonwealth government under the Joint Strike Fighter program.

All 72 aircraft are expected to be fully operational by 2023, with an option to expand the fleet to a maximum of 100 aircraft.

[Related: Should Australia explore alternatives to an F-35 top-up?]

 

 

Lockheed Martin to ramp up F-35 production
F-35-Arrival-2.jpg
lawyersweekly logo

more from defence connect

Jun 22 2021
APC Technology launch new defence ready GVA smart display technology
The Smart GVA display is an Australian first- designed & manufactured by APC in Adelaide, South Australia. The product is part...
Jun 22 2021
Honeywell to supply ADF with TALIN technology
As part of the Australian Department of Defence’s LAND 19 Phase 7B program, Honeywell has been selected by Raytheon Australia to...
Jun 22 2021
Israel MoD completes first HPL-WS interception tests
The Directorate of Defense R&D in the Israel Ministry of Defense (MoD), Elbit Systems and the IAF, have effectively intercepte...