America's F-35 stealth fighters are going to be flying less as costs soar, watchdog finds [Business Insider]
Lockheed Martin Corporation (LMT)
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Source: Business Insider
The jet's availability has decreased, and the Pentagon also plans to use it less. The US military is cutting future flight hours for the F-35 — already not available as often as it should be — as the program's price tag grows, a new watchdog report revealed this week. The Pentagon estimates that the full life-cycle cost for the F-35, which consists of purchasing, operating, and sustaining the aircraft over the next several decades, has now surpassed more than $2 trillion, the US Government Accountability Office noted in a Monday report The eye-popping figure from the GAO for what was already the world's costliest weapons program is much larger than the previous estimate of $1.7 trillion. The Department of Defense currently fields around 650 F-35s — of which there are three variants for the Navy, Air Force, and Marine Corps — and it plans to procure around 2,500 in total by the mid-2040s. The GAO also said that sustainment costs for the F-35 program grew from around $1.1 trill
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LMT
Earnings
- 4/23/24 - Beat
LMT
Sec Filings
- 4/29/24 - Form 4
- 4/23/24 - Form 10-Q
- 4/23/24 - Form 8-K
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