Lockheed Martin Statement on F-35 LRIP 10 Agreement

“We’re pleased to have reached an agreement with the U.S. Department of Defense for the next 90 F-35 aircraft. The agreement represents $728 million in savings and a nearly 8 percent reduction in price over our last contract for the air vehicle delivered by Lockheed Martin and our industry partners. The increase in the number of aircraft in this agreement enables us to reduce costs by taking advantage of economies of scale and production efficiencies.

President Trump’s personal involvement in the F-35 program accelerated the negotiations and sharpened our focus on driving down the price. The agreement was reached in a matter of weeks and represents significant savings over previous contracts. This is a good deal for the American taxpayer, our country, our company and our suppliers.

The agreement ensures our men and women in uniform are equipped with the best technology available at the best value for the American taxpayer. It will also create 1,800 new jobs at our Fort Worth, Texas, factory and support thousands more jobs in our U.S. supply chain.”