Lockheed Martin won’t make its goal of 156 F-35s in 2023 due to engine delivery delays and continuing development and testing of the Tech Refresh 3 update, which underwrites the Block 4 upgrade. However the company expects a Performance-Based Logistics Contract by the end of ...
The world’s largest defense contractor says it’s given up on trying to buy the only U.S. maker of certain propulsion components of missiles and missile defense kill vehicles. The Federal Trade Commission announced in January that it was suing Lockheed Martin to block the company ...
A deal on the next three-lot buy of F-35 fighters is dragging out because Lockheed Martin and the Joint Program Office are struggling to agree on a new cost baseline, affected by inflation, the pandemic and a reduced buy from the military services, company officials ...
The Federal Trade Commission is suing to stop the planned Lockheed Martin/Aerojet Rocketdyne merger, saying the deal would give Lockheed Martin unfair advantages while harming competition and innovation. Lockheed Martin has 30 days to decide whether to defend the merger in court or drop the ...
Lockheed Martin took a $225 million loss on a secret program being conducted by its aeronautics division, company officials divulged, but the program will go forward and is expected to enter production, Lockheed Martin CEO James D. Taiclet said on a second quarter earnings call ...
Sustainment of the F-35 is rapidly becoming the most profitable part of the program, as growing numbers of jets, bases and depots drive a greater demand for parts and services, top Lockheed Martin officials said in an April 20 corporate earnings call. The comments come ...
The Hypersonic Air-breathing Weapon Concept (HAWC) missile failed to fly in a planned test launch, due to mechanical errors, not the missile design, sources reported. The problem follows captive-carry test flight issues during the spring and summer, which led to a HAWC prototype being damaged. ...
Lockheed Martin will buy Aerojet Rocketdyne, maker of rocket motors and hypersonic engines, among other products, in a $5 billion transaction, Lockheed announced Dec. 21. The biggest issue in the potential deal is how comfortable the industry, Congress, and the Pentagon will be with all ...
The heads of eight top defense contractors are urging the White House and Pentagon not to cut modernization and research and development funding to come up with the money to pay for expenses caused by the coronavirus pandemic. The companies said they're worried modernization will ...
Marillyn Hewson is stepping aside as head of Lockheed Martin, to be succeeded by board member James Taiclet, while Frank St. John steps up to be Chief Operating Officer. Taiclet is a graduate of the U.S. Air Force Academy with degrees in engineering and international ...