US Defense Department To Purchase Up To 375 Lockheed Martin F-35s

US Defense Department To Purchase Up To 375 Lockheed Martin F-35s

July 21, 2022 Off By Reem

The latest deal announced during the Farnborough airshow is likely to see some 375 Lockheed Martin F35 aircraft be acquired under the procurement Lots numbering 15,16 and 17. For the Department of Defense’s Joint Program Office which oversees the F-35 acquisition, the deal which may be valued at close to $30 billion will include aircraft with “modernized hardware that will be needed to run the F-35′s Block 4 capabilities, which include the ability to carry more weapons, improved target recognition, and advanced electronic-warfare capabilities”, according to the airforcetimes.com web site.

Fluctuating prices

The last deal for three lots of F-35s which had been finalized in 2019 had seen the cost of each F-35A come down to $77.9 million for Lot 14 while unit cost for F-35B models had fallen to $101.3 million and $94.4 million for the F-35C models. The 2019 deal which had involved the procurement of some 428 aircraft had been valued at around $34 billion according to Reuters, highlighting how economies of scale on such larger deals can lower aircraft unit cost. The first F-35A that came off the assembly line in 2007 cost as much as $221 million per unit.