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Lockheed Martin Sees Likely Delay In F-35 Tech Refresh-3 To Third Quarter

Cal Biesecker By
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Lockheed Martin Sees Likely Delay In F-35 Tech Refresh-3 To Third Quarter
A U.S. Navy Sailor directs a Marine Corps F-35B Lightning II aircraft assigned to Marine Fighter Attack Squadron (VMFA) 242 aboard the Japan Maritime Self-Defense Force helicopter destroyer JS Izumo (DDH-183) off the coast of Japan on Oct. 3, 2021. Marines and Sailors assigned to the amphibious assault ship USS America (LHA 6) embarked aboard Izumo to support the first ever F-35B Lightning II operations aboard a Japanese vessel (U.S. Marine Corps Photo)

Development of an upgraded software capability for the F-35 fighter aircraft is maturing but more slowly than expected and while Lockheed Martin [LMT] is still aiming to deliver the third Technology Refresh (TR-3) by June, it is more likely customer acceptance will slip into the third quarter of this year, Jim Taiclet, the company’s chairman, president and CEO, said on Tuesday. "As we have said before, there continues to be risk in TR-3 deliveries due to delays in software maturity,"…

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