By The Latest Word On Trends And Developments In Aerospace And Defense Lynn On F-35. Deputy Defense Secretary William Lynn tells the heads of the SASC that the Pentagon is working to control costs with the F-35 Joint Strike Fighter program. He notes while Lockheed Martins’ Low Rate Initial Production (LRIP) 1-3 contracts--which are over-budget by hundreds of millions of dollars--are cost-plus-incentive-fee deals, LRIP 4 has a fixed-price-incentive-firm setup. “The (Defense) Department is currently examining every element of cost in developing…
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