Lockheed Martin meets 2019 delivery target

Lockheed Martin Corp stated, it has reached its 2019 target of delivering 131 F-35 fighter jets to the United States and its allies, marking an increase of 47% as compared to the last year.

Lockheed Martin Corp, the world’s largest defense contractor, now aims to 141 of the stealthy F-35s jets in 2020.

The most common variation of the jet, the F-35A, now costs $77.9 million, beating its goal of lowering the price to below $80 million a year earlier than expected.

The F-35 program makes up for around 25% of Lockheed’s annual revenue. In recent years, Lockheed Martin had aimed at lowering the F-35A’s price to below $80 million by further streamlining operations and gaining bulk orders.

Earlier this year, the Pentagon had announced pricing details of its agreement with Lockheed Martin, that showed a lowering of cost of the F-35 program through 2022 by 12.7%, thus encouraging other nations to purchase the fighter jet.

During 2019, international deliveries jumped by 43% to 30 jets for U.S. allies.

U.S. allies, including Finland, Switzerland and the United Arab Emirates, have been eyeing a purchase of the stealthy jet.

The F-35 program provides three configurations: the A-model is for the U.S. Air Force and U.S. allies, the B-model is for short takeoffs and vertical landings, and the C-Model is for the U.S. Navy.

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