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Marines Expect F-35 In July, Even If Fixes Delayed LMT UTX - Investors.com
The Marine Corps still expects Lockheed Martin's (NYSE:LMT) F-35 stealth fighter to be ready for combat use in July 2015, and may delay some non-critical modifications if necessary.
"It's a tight timeline, but I think it's doable," outgoing Commandant Gen. James Amos told Reuters Wednesday. "It's too soon to flinch."
Lockheed and F-35 Joint Strike Fighter program officials are working to complete a series of needed retrofits and the development of the Block 2B software, according to Reuters.
"There is some risk in a mid-summer (initial operational capability) but we've known that all along," Amos said, adding that there's a "medium risk" that the 2B software would not be ready in time.
Pilots need to train with the 2B software in flight simulators before the jets can be declared ready for combat. Lockheed is contracted to deliver the software in the spring, according to Amos.
Lockheed shares dipped 0.1% on the stock market today.
The Marines will have an initial squadron of 10 F-35s, still scheduled for use next July as of now, and are slated to purchase 340 short take-off and landing F-35B models and 80 F-35C aircraft carrier variants.
Last month, Lockheed said the F-35 will be ready for combat missions next year despite its development issues, including an engine fire in June that temporarily grounded the jets.
The defense giant also expects per-unit costs to fall to $80 million-$85 million by 2019, down from the current unit cost of $115 million.
On Tuesday, United Technologies' (NYSE:UTX) Pratt & Whitney division — which makes the engines for the F-35 — inked a deal with the Pentagon that will reduce the cost of its seventh batch of engines by 4.5%.
Amos said that the Pentagon still wants a deeper cost reduction for its eighth batch, which should follow in the coming weeks.
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The Marine Corps still expects Lockheed Martin's (NYSE:LMT) F-35 stealth fighter to be ready for combat use in July 2015, and may delay some non-critical modifications if necessary.
"It's a tight timeline, but I think it's doable," outgoing Commandant Gen. James Amos told Reuters Wednesday. "It's too soon to flinch."
Lockheed and F-35 Joint Strike Fighter program officials are working to complete a series of needed retrofits and the development of the Block 2B software, according to Reuters.
"There is some risk in a mid-summer (initial operational capability) but we've known that all along," Amos said, adding that there's a "medium risk" that the 2B software would not be ready in time.
Pilots need to train with the 2B software in flight simulators before the jets can be declared ready for combat. Lockheed is contracted to deliver the software in the spring, according to Amos.
Lockheed shares dipped 0.1% on the stock market today.
The Marines will have an initial squadron of 10 F-35s, still scheduled for use next July as of now, and are slated to purchase 340 short take-off and landing F-35B models and 80 F-35C aircraft carrier variants.
Last month, Lockheed said the F-35 will be ready for combat missions next year despite its development issues, including an engine fire in June that temporarily grounded the jets.
The defense giant also expects per-unit costs to fall to $80 million-$85 million by 2019, down from the current unit cost of $115 million.
On Tuesday, United Technologies' (NYSE:UTX) Pratt & Whitney division — which makes the engines for the F-35 — inked a deal with the Pentagon that will reduce the cost of its seventh batch of engines by 4.5%.
Amos said that the Pentagon still wants a deeper cost reduction for its eighth batch, which should follow in the coming weeks.
RELATED: