Lockheed F-35 Program Costs Plummeted $4.5 Billion in 2012
May 24, 2013 8:00 AM
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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.
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why is this a news?
6/3/2013 1:10:56 PM
One thing I personally do not understand is why people consider 1 trillion USD a big money. For such a rich nation 1 trillion is nothing. Just think about Microsoft developing .Net. They spent over 1 trillion on R&D for .Net.
This is a very biased news about F-35. It can easily cost 5 trillion and worth it. Because others will pay for it anyway.
RE: why is this a news?
6/9/2013 2:02:50 AM
Microsoft spent 2 Biliion on .net
Microsofts Total assets amount to 121 billion based on 2012 estimates
Entire credit card debt of the USA 800-900 Billion
Entire student loan debt of the USA 1 Trillion
You are off by a factor of 500 , 1 Trillion is an enormous amount of money. The federal government spends 108 billion a year on education, with 1 Trillion you could double that budget for 10 years.
"Nowadays, security guys break the Mac every single day. Every single day, they come out with a total exploit, your machine can be taken over totally. I dare anybody to do that once a month on the Windows machine." -- Bill Gates
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