Lockheed Martin and DoD move closer to agreement on F-35 Lots 18 and 19
In December 2022, Lockheed Martin was awarded $1 billion to begin ordering long-lead parts for Lot 18 aircraft. (Photo: US Air Force)
The formal contract is expected before the end of 2024. Lockheed Martin stated in October 2024 that negotiations surrounding the Lots 18 and 19 were still underway.
Lockheed Martin has moved closer towards a deal with the F-35 Joint Program Office (JPO) on its Lot 18 and Lot 19 contracts for the aircraft, via an informal agreement (known as a ‘handshake’ deal), as first reported by Air and Space Forces magazine.
While the agreement is not yet finalised, it will reportedly cover around 300 aircraft. Lockheed Martin’s final assembly line in Forth Worth, Texas has a reported capacity of 156 aircraft.
“We have reached an initial agreement as part of ongoing negotiations for the Lot 18/19 Air Vehicle Production Contract,” the JPO and Lockheed Martin said. “We will share the aircraft quantity and cost figures when a final agreement is signed.”
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Lockheed Martin takes financial hit amid ongoing F35 troubles
Lockheed Martin previously revealed that due to delays in finalising a deal it had taken a US$700 million hit to keep production for Lots 18 and 19 running. During its Q3 2024 financials call, Lockheed Martin said it anticipated recouping in Q4 2024 some of the costs incurred once the contract for Lots 18 and 19 were negotiated.
In Q3 2024, the company delivered 48 F-35s and still expects to deliver 90 to 110 aircraft this year, with the remaining of its Lot 15-17 aircraft to follow soon after. Lot 20 is part of a separate agreement, with Lockheed recently being awarded $870 million for the long-lead materials by the US Department of Defense.
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