Lockheed Makes 27% Revenues From F-35 Sales; How Else Is US Defense

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Russia’s invasion of Ukraine has had a wide-ranging impact on the entire world but most significantly on Europe. The vulnerability faced by states vis-a-vis Russia has led to a significant rise in military spending. However, this has become a golden opportunity for defence giants like Lockheed Martin, making billions of dollars off the war.
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The US Department of Defense (DoD) agreed with Lockheed Martin Corp on July 18 to build about 375 F-35 fighter jets over three years. The agreement comes amid expectations that the price of the most common variant of the aircraft F-35A would increase due to inflation and slower production.
The ‘handshake agreement’ worth $30 billion is just a starting point for determining the contract’s final price and award, which won’t likely be set in stone for several weeks or months. Thus, it is still unknown how much the contract will ultimately be worth and how much each jet variant would cost.
The F-35A was $221 million per unit when it entered final series production in 2007. Since then, as more nations joined the program, manufacturing volumes and technological advancements have helped to drive down the cost of the stealthy fifth-generation fighter to $79 million per aircraft, as earlier noted by EurAsian Times.
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Before the pandemic, 478 jets were supposed to be bought over three years, but the 22% reduction to 375 units increased the F-35A’s overall cost. While this weighs heavily on the pockets of the United States, it is a definite rise in the fortunes of the contractor Lockheed Martin.
File Image: F-35 Stealth Fighters
Lockheed Martin has recently won many jet fighter contracts, including Germany, Finland, and Switzerland. Recently, the Czech Republic also announced that it had decided to buy the F-35 fighter jets, while countries like Greece have shown interest.
The Russian invasion of Ukraine has significantly driven the sales of the fifth-generation stealthy F-35 aircraft, and it is the best-selling warplane in the world today.
The Pentagon serves as a middleman between the defence contractor (in this case Lockheed) and a foreign government in government-to-government transactions like the F-35 foreign military sales.
The F-35 program of Lockheed Martin has never bid against other jets in a competitive auction up to this point, potentially because of the unique capabilities of the fighter jet along with the political leverage that the United States enjoys in the world.
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The F-35 jet program accounts for about 27% of Lockheed’s revenue, which is set to rise given the current and potential sales driven by the Russian war. While the F-35 is surely the cornerstone of the American giants burgeoning profits, other systems have also driven a significant contribution.
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