Evan Scott, the newly appointed Chief Financial Officer of Lockheed Martin, shared the update during a Bank of America conference. Scott stated, “The fighter jets in lot 19 could potentially be awarded sooner than the second half of this year, which was the company’s earlier timeline.”
Furthermore, Lockheed Martin has received indications from its customer to anticipate the combination of lots 18 and 19 into a single contract. The primary customers for these lots are the Pentagon, along with U.S. allies and partners, who are heavily invested in the F-35 programme.
The F-35 project has faced significant delays due to a technology upgrade aimed at enhancing the jet’s displays and processing capabilities. The upgrade, designed to improve the electronic systems of the fighter jets, has been a prolonged challenge for Lockheed Martin.
Despite these setbacks, Lockheed Martin recently reported stronger-than-expected quarterly profits, driven by steady demand for its missile systems and fighter jets. The company also reaffirmed its annual forecasts, highlighting the resilience of its defence production amidst ongoing technological adjustments.
Source: Reuters.
