Lockheed Martin Targets Delivery of 200 F-35 Jets Amid Soaring Global Demand
Lockheed Martin is set to ramp up its production of F-35 Lightning II fighter jets, aiming for a delivery target of 200 units by year-end. This escalation in output is a response to an unprecedented global demand that has led to a record order backlog of $179 billion.
Record Production and Delivery Goals
During the third-quarter earnings call, CEO Jim Taiclet highlighted that the company is producing “one plane for every working day of the year.” Lockheed Martin has already delivered 143 jets by the close of Q3, surpassing its previous annual high of 142 jets achieved in 2022.
If these production goals are met, 2023 could represent the most productive year for F-35 deliveries in the last decade, marking a notable 64% increase from 2022.
Global Demand for the F-35
- Heightened global defense spending is driving demand.
- The F-35 program is recognized as the largest and most sophisticated fighter project ever.
- Currently, over 1,200 F-35 jets are in operation around the world.
Manufacturing and Variants
The F-35 jets are primarily assembled in Fort Worth, Texas. There are three variants designed to meet the operational requirements of different branches of the military as well as allied nations.
Strategic Importance
The aircraft is used by various air forces, including the U.S. Navy and Finland, and is viewed as a vital asset for U.S. allies. Its deployment signifies collective security and strength, with “deterrence” being the primary objective of the F-35 initiative.
