Lockheed Martin’s F-35 Joint Strike Fighter Program Needs Another Year

Lockheed Martin's F-35 Joint Strike Fighter Program Needs Another Year

"Lockheed Martin's (NYSE:LMT) F-35 Joint Strike Fighter program, which has already been plagued by heavy costs and delays, may not enter the service for another year, according to a Reuters report. The news service said Draft results of a in depth review of the program were shown to Ashton Carter, the Defense Department's chief acquisition officer. The draft report suggested that the Navy and Air Force versions of the F-35 will require another year of development. The jet was envisioned to become the heart of the US fighter-jet fleet but a host of software issues have plagued its birth. The total cost for the jet is now 64% over initial estimates, or upwards of $682 billion."