F-35 to save $1.8B by 2019

|By:, SA News Editor

Lockheed Martin (LMT) states industry investment of $170M over the next two years will result in $1.8B in savings for the F-35 Joint Strike Fighter program, cutting the cost of each fighter jet by about $10M to about $80M.

The announcement comes after the Pentagon's release of the "Blueprint for Affordability" project, stating that Lockheed and two main subcontractors, Northrop Grumman (NOC) and BAE Systems (BAESY), will only recover their investment and any profit if cost reductions to the jet were made.

There is still no word if the F-35 will be making its debut at two international air shows tomorrow and next week in the U.K.