Pentagon, Lockheed Martin Reach Agreement for Two More Lots of F-35 Fighters

The handshake deal for lots 18 and 19 of the F-35 aircraft is pending final terms, with production already underway.
  • Defensemirror.com bureau
  • 02:15 PM, November 26, 2024
  • 2361
Pentagon, Lockheed Martin Reach Agreement for Two More Lots of F-35 Fighters
F-35s from the 34th Fighter Squadron at Santa Maria Airport. Image : @airandspaceforces

The Pentagon and Lockheed Martin have reached a handshake agreement for the production of lots 18 and 19 of the F-35 Joint Strike Fighter, according to a joint statement from Lockheed and the F-35 Joint Program Office.

The agreement, first reported by Air and Space Forces Magazine, marks a step forward in the continuation of the stealth fighter’s production, although final terms are still under negotiation.

Lockheed and the Joint Program Office have not yet confirmed the number of aircraft or the total cost of the contract, with the official details expected to be released once the agreement is finalized. Lockheed's Chief Financial Officer, Jay Malave, indicated in October that the deal would likely be concluded by the end of 2024.

In late 2023, the Pentagon authorized Lockheed to begin production on lots 18 and 19 and provided initial funding for the jets. However, Lockheed has continued the production work on its own due to funding delays and the need to avoid supply chain disruptions. The company reported approximately $700 million in delayed revenue for F-35s in the third quarter of 2024 due to this issue.

The previous F-35 contract, covering lots 15 through 17, was signed in 2022, providing up to 398 jets for the U.S. military and international partners. The cost of the F-35 variants in those lots ranged from $82.5 million for the F-35A to $109 million for the F-35B, with the F-35C priced at $102.1 million. The cost for lots 18 and 19 is expected to rise due to reduced purchasing plans, increasing aircraft complexity, and inflation.

In addition to the handshake agreement, the Pentagon awarded Lockheed an $870 million contract on November 22, 2024, to procure parts in advance for the production of lot 20 aircraft. This work will primarily take place at Lockheed's Fort Worth, Texas facility.

 

Also Read

Lockheed Martin Secures $422M for Czech F-35 Program Integration

September 27, 2024 @ 06:07 AM

F-35 Program Delivers 142 Aircraft in 2021

January 4, 2022 @ 09:29 AM

Lockheed Martin F-35 Program To Get $22B Costlier

April 23, 2019 @ 09:56 AM
FEATURES/INTERVIEWS
© 2025 DefenseMirror.com - ALL RIGHTS RESERVED