The Pentagon now believes the redevelopment costs for the first five production lots of the F-35 Joint Strike Fighter will cost $500 million less than a previous projection, according to a recent report submitted to Congress. The latest revision applies to 90 aircraft and says the total redevelopment, or "concurrency," costs are expected to come in at $1.2 billion compared to a September $1.7 billion-estimate sent to lawmakers, according to the May report. Congress began mandating the semi-annual concurrency reports…
