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Navy/USMC

F-35 Acquisition Cost Jumps Above $400 Billion In Latest Cost Estimate

Wednesday, July 19th, 2017

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F-35 Acquisition Cost Jumps Above $400 Billion In Latest Cost Estimate

Hill Air Force Base F-35As fly in formation over the Utah Test and Training Range, March 30, 2017. (U.S. Air Force photo/R. Nial Bradshaw)

The total cost of acquiring the Lockheed Martin [LMT] F-35 Joint Strike Fighter has risen more than $27 billion due to an increase in per-unit cost because the Pentagon has slackened the pace at which it will buy the jets and engines made by Pratt & Whitney, a division of United Technologies [UTX].According to the Selected Acquisition Report (SAR) for 2016 released June 18, overall F-35 program cost went up $27.4 billion, from $379 billion to $406.4 billion. Most of…

Congress

Trump Wants Second Reconciliation Bill On His Desk By June 1

President Donald Trump on Wednesday called on Congress to pass and send a second reconciliation bill to his desk by June 1. The deadline follows congressional Republicans’ backing a pursuit […]

Space

Upgrading Current GPS Ground System “Now a Viable Option,” As GPS OCX Problems Continue, Space Official Says

Upgrades to the GPS ground system–the Architecture Evolution Plan (AEP)–is an option under consideration by the Defense Department’s space acquisition chief, as problems continue in fielding the GPS Next Generation […]

Congress

Graham Says GOP To Move Ahead On Second Reconciliation Bill, With Defense Funds As Priority

Senate Budget Committee Chair Lindsey Graham (R-S.C.) said Wednesday, with the White House’s backing, his panel will move “expeditiously” on crafting a second reconciliation bill, citing priorities for defense and […]

Pentagon

Hegseth Acknowledges Potential $200 Billion Iran Supplemental Request, Final Figure ‘Could Move’

Defense Secretary Pete Hegseth on Thursday acknowledged the Pentagon could potentially ask Congress for $200 billion in supplemental funding to support the ongoing operation against Iran and replenish munitions used […]