I can of agree that LRIP is slow manufacturing to detect and fix all the defects and the baseline configuration has not been established.That's right
LRIP - Low Rate Initial Production
FRP - Full Rate Production
The difference being the obvious one, FRP will produce more aircraft per batch than LRIP resulting in lower unit costs.
My understanding is that LRIP is slower by necessity so that the producers can develop and test production cycles which work effectively when production ramps up, it also allows the oppertunity if flaws in the design, fabrication or part manufactuing processes are found then they can be corrected without resulting in a large number of airframes with the problem. Like the problem with a fuel hose recently, it was found, tracked back to a manufacturing defect and now the part is performing as it should.
The issue is people now equating the production numbers & cost of the airframes coming out right now and the last few years in LRIP to the final costs with FRP when there will be significant unit cost reductions.
But like I said, that's from my understanding, so i could have the wrong end of the stick.
EDIT: See ADMk2's reply
FRP - is when the baseline configuration is finalized. Meaning no changes are forecast and as just what ADMK stated 200 F35s or more could come out of production each year.
Don't know if per aircraft costs would come down drastically during FRP, but in essence it should because aircraft configuration is already finalized.