Lockheed F-35 Program Costs Plummeted $4.5 Billion in 2012
May 24, 2013 8:00 AM
comment(s) - last by
All programs covered in the annual selected acquisitions report state under their spending caps
The Pentagon and military leaders in the U.S. have been under intense pressure concerning the F-35 Lightning II program and
how far over budget it has climbed over the years
. With the
past history of cost overruns
, the Pentagon is now letting everyone know that costs for the program fell by $4.5 billion last year.
This is the first time in the F-35 Lightning II program that estimators have lowered the projected cost of the Pentagon's most expensive acquisition program. The annual Pentagon selected acquisitions report, which was published Thursday, is currently projecting the cost to develop and procure the F-35 Lightning II at a little more than $391 billion.
The F-35 Lightning II is one of 78 acquisition programs that was covered in the selected acquisitions report. It's worth noting that the F-35 Lightning II wasn't the only program able to stay under the spending cap covered in the program. The Pentagon undersecretary for acquisition, technology, and logistics, Frank Kendall noted that this was the "first time in my memory" that no program covered in the SAR went over the federal spending cap.
The F-35 Lightning II is broken down into two sub programs by the report including Lockheed Martin's portion of building the actual aircraft and
Pratt & Whitney
, the engine builder. $4.9 billion in savings actually came from Lockheed Martin, while Pratt & Whitney actually saw a cost increase of roughly $442 million due to development and procurement of the engines.
Currently, total flyaway costs the F-35A are $76.8 million with the Navy carrier-based version costing $88.7 million. The Marine Corps version, the F-35B, saw costs decline the most to $103.6 million per unit.
The entire F-35 Lightning II fleet had been
earlier this year when a crack was discovered in an engine component on one fighter. The aircraft were cleared to fly again in March.
This article is over a month old, voting and posting comments is disabled
RE: Are these things actually in service ANYWHERE?
5/25/2013 3:22:57 PM
why post about things u know nothing about , the f35 is a overpriced piece of junk, thats not debatable.
"If you can find a PS3 anywhere in North America that's been on shelves for more than five minutes, I'll give you 1,200 bucks for it." -- SCEA President Jack Tretton
F-35 Lightning II Cleared to Resume Flight Operations
March 4, 2013, 9:27 AM
New Estimates Peg the Lifetime Cost of Lockheed F-35 Lightning II at $1.45 Trillion
March 29, 2012, 11:21 AM
Pratt & Whitney Works to Lower Cost of F-35 Engine
June 7, 2011, 12:41 PM
Senators Want Alternatives to Lockheed F-35 Joint Strike Fighter
May 23, 2011, 12:44 PM
U.S. Air Force F-35 Lightning II, F-22 Raptor Team Up for “Integration Training”
November 19, 2014, 9:15 AM
U.S. Marshals Using Fake, Airplane-based Cell Towers to Scan Cell Phones of Americans
November 14, 2014, 9:05 AM
Ford Enlists Wind Energy Corp. to Provide Wind, Solar Energy to Four U.S. Dealerships
November 10, 2014, 10:58 AM
Disney Reveals Star Wars Ep. VII Title -- "The Force Awakens"
November 6, 2014, 3:45 PM
U.S. Navy Lockheed F-35C Completes First Carrier Landing
November 4, 2014, 12:44 PM
Microsoft Co-founder Paul Allen Donates $100M to Fight Raging Ebola Epidemic
October 23, 2014, 6:05 PM
Most Popular Articles
Wal-Mart: Miss Thanksgiving, Get Xbox One + Master Chief Collection for $299
November 17, 2014, 9:40 PM
Nokia Lumia 635 LTE Windows Phone is Only $40 at Best Buy on Black Friday
November 18, 2014, 11:59 AM
Uber Exec Threatens to "Spend Millions" to Stalk Female Reporter and Her Family
November 19, 2014, 12:31 PM
Toyota’s Mirai Hydrogen Fuel Cell Vehicle Priced from $57,500 in the U.S.
November 18, 2014, 10:23 AM
Rand Paul Casts Crucial "No" Vote on Obama-Backed PATRIOT Act Renewal Bill
November 19, 2014, 5:15 PM
Latest Blog Posts
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information