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DoD Plans to Spend $6.6 Billion on F-35 Continuing Development Through 2024

Brian Garrett-Glaser By
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DoD Plans to Spend $6.6 Billion on F-35 Continuing Development Through 2024
An F-35C firing missiles upside down (Lockheed Martin)

The U.S. Defense Department plans to spend about $6.6 billion on continuous capability development and delivery (C2D2) for the F-35 Joint Strike Fighter from 2019 through 2024, according to its just-released fiscal year 2020 budget proposal. Lockheed Martin's [LMT] F-35 has been in low-rate initial production through its first 12 lots, but the company plans to enter full-rate production this year, jumping to 130 deliveries, up from 91 deliveries in 2018 across all three variants — conventional takeoff F-35A, vertical-takeoff-and-landing F-35B and…

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