Tuesday, June 24, 2014
The projected cost to upgrade F-35s declined by about $920 million, or 36 percent, in less than two years. That's according to the Pentagon's latest analysis. The estimate for improvements and corrections for Lockheed Martin aircraft already built or planned in contracts to be awarded through 2016 has dropped to about $1.65 billion from a $2.57 billion estimate in September 2012. The need to retrofit the planes stems from the Defense Department's decision to produce the F-35 as it's still being developed, called concurrency. (Source: Bloomberg, 06/23/14) Gulf Coast note: Eglin Air Force Base, Fla., is home of the F-35 training center.