Lockheed Gets $3.48B for 31 F-35s

Lockheed Martin Corp. received a fourth production contract for 31 F-35 Joint Strike Fighter jets valued at $3.48 billion as the Pentagon’s most expensive weapons program faces new questions over costs and delays.

Lockheed will build 16 planes for the U.S. Marine Corps configured for short takeoffs and vertical landings, 10 of the Air Force version of the jet, 4 Navy models and 1 for the U.K., the Pentagon said today. The Bethesda, Maryland-based company has an option to assemble a 32nd aircraft for the Netherlands.

The award provides a boost to Lockheed on the eve of a Nov. 22 review of the JSF led by the Defense Department’s top arms buyer, Ashton Carter. Development and combat testing is running more than four years behind schedule on the F-35, a program with a projected price tag of $382 billion.

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