Lockheed F-35 Cost Now Projected at $382 Billion (excerpt) (Source: Reuters; issued June 1, 2010)
WASHINGTON --- Lockheed Martin Corp. said a fourth batch of F-35 fighter planes will beat Pentagon cost estimates by more than 20 percent, even as new U.S. data pegged the overall program tab at $382 billion.
The U.S. Defense Department on Tuesday told Congress that the multinational fighter was vital to national security and it should not be terminated despite the sharp cost increases.
Senior officials at the Pentagon and at Lockheed acknowledged the new cost target was 65 percent higher than the $232 billion initially set for the program, but said they were working hard to drive down costs.
"I hope that the taxpayer never has to pay this bill. It should come down," one senior defense official told reporters at the Pentagon.
The official declined to give specific targets for how much lower the cost could wind up being, but said "every column of cost in this program" was being scrubbed for possible savings.
Lockheed and eight overseas countries are developing the F-35 fighter in three variants as an affordable replacement for current F-16, Harrier and A-10 warplanes flown by the U.S. Air Force, Navy and Marines, and many foreign countries. (end of excerpt)
Click here for the full article, on the Reuters website.
http://www.reuters.com/article/idCNN011 ... 602?rpc=44(EDITOR’S NOTE: In March, the Pentagon had already conceded that the total cost of the JSF program had risen to $323 billion. This latest estimate shows that total JSF costs have increased by $59 billion over the past six months alone.)
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