Melbourne-based Lovitt Technologies has secured a $1.5 million Australian government grant to buy a next-generation machining centre to secure more work on the global F-35 Program.
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Lovitt Technologies is the first recipient of Defence’s Joint Strike Fighter Industry Support Program - Production and Modernisation Grant, which provides local companies up to 50 per cent of the money they need to develop new or improved capabilities to secure work from the lucrative program.
Head of Aerospace Systems Divisions, Air Vice-Marshal Graham Edwards AM, CSC, said Defence wanted more skilled Australian workers to benefit from long-term jobs from the F-35 Program and strengthen Australia’s defence industry.
The company will use the grant to train staff and upgrade equipment and software.
A machining centre is an advanced, fast, computer-controlled machine that can perform multiple operations like milling, boring and drilling.
“These commercial contracts and grants create great opportunities and flow on economic benefits to small and unique Australian businesses through supply chain work,” AVM Edwards said.
The grant scheme will introduce a new capability to Australia to manufacture larger and more complex components for the F-35 Program, which will also benefit other Defence programs.
“Australian industry is poised to increase its contribution to the global F-35 Program, which has more than 930 aircraft with an expected global fleet of over 3,000,” AVM Edwards added.
More than 70 Australian companies have already benefited from over $3.7 billion in global F-35 production and sustainment contracts.
The Joint Strike Fighter Industry Support Program - Production and Modernisation Grant provides funding to develop new or improved capabilities to win work in the production and modernisation phases of the Joint Strike Fighter Program, with an emphasis on delivering a competitive and capable defence industrial base that:
- is committed to increase, identify, and make the most of business opportunities within Australia and overseas; and
- has improved competitiveness by developing skills of the workforce, fostering innovation and boosting productivity.
Further information on Australia’s industry participation in the F-35 Program is available here. More information on Joint Strike Fighter Industry Support Program – Production and Modernisation Grants is available here.