Lockheed To Miss F-35 Targets

Lockheed Martin's F-35 deliveries were down in Q3

Shipments of the Lockheed Martin F-35 Lightning II Joint Strike Fighter aircraft slipped during the third quarter and the firm will miss 2016 targets, the company revealed on 25 October.

However, CEO Marillyn Hewson cited the next-generation fighter’s positives in a conference call with analysts, following release of the company’s financial results. According to Hewson, the F-35A obtaining initial operating capability certification by the US Air Force has been a momentum builder, as the variant accounts for nearly 70% of units expected to be produced under the program.

Hewson also lauded Norway’s decision to be the first country to formally commit to participation in a projected multi-year, multinational block purchase of F-35s. A US Navy live-fire intercept test of its Aegis weapon system in conjunction with an F-35 conducted in August – a first – provides additional confirmation of the

aircraft’s capabilities, Hewson said. The F-35 acted as an elevated sensor platform and used a data link to transmit tracking information.

News was not so good regarding F-35 shipments, which slipped to 10 units during the third quarter, down from 12 in the third quarter last year. A company official cited lower-tier supplier-issues for the shortfall, notably “out-of-spec” deliveries of (coolant) insulation tubes, which affected several aircraft.

The problem is serious enough that Lockheed Martin must repair existing aircraft in the field, and the slowdown will cause it to miss its 53-unit 2016 delivery target. Lockheed Martin is not expected to be back on schedule with F-35 shipments until the end of 2017. Deliveries of F-16 Falcon, C-130J Hercules, and C-5 Galaxy (three, four, and two units respectively) remained stable during the quarter compared with the comparable period last year.

However, Lockheed will compensate somewhat through revenue gains on the F-35 sustainment front, where results continue to exceed what a company spokesperson called its “conservative” forecasts.

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