Lockheed Martin will add 400 workers to boost production of the F-35 fighter jet, the most expensive in U.S. history, after making a good on an earlier promise to President Trump to increase the aircraft’s workforce by 1,800.
“The F-35 is an iconic product,” Lockheed Chief Executive Officer Marillyn Hewson said in a statement. “The program supports 194,000 direct and indirect jobs nationwide, and as we ramp up production we are creating even more opportunities for American workers.”
Lockheed, based in Bethesda, Md., trumped rival defense contractor Boeing for the right to develop the aircraft in 2001, the first year of George W. Bush’s presidency. The stealthy, supersonic plane was designed to replace aging fighter jets such as the Air Force’s F-16s and the Navy’s F/A-18s while deftly handling both precision air-to-ground strikes and mid-air combat with other jets. It’s expected to cost more than $406 billion.
Its development hasn’t always run smoothly, however. Members of Congress have criticized rising costs and delays in the program, and the Defense Department temporarily blocked deliveries of the stealth fighter before resolving a dispute over repairs in May.
The concern in that case was Lockheed’s failure to apply a corrosion-preventing primer to fastener holes on the aircraft, the government said. The military office overseeing the program, along with U.S. armed forces and overseas allies, set up a corrective-action plan to make necessary repairs while minimizing the effect on defense operations.
Most modifications will be completed within two years, the Pentagon said in a statement.
Lockheed said Monday that it had cut the cost of building each F-35 by about 60 percent since the first lot was produced. It’s on track to reduce the expense to $80 million by 2020, which would be equal to or less than legacy jets like the F/A-18, according to the company.
The contractor has delivered 310 F-35s so far, about 10 percent of current demand, and expects to turn over another 91 this year after meeting last year’s target of boosting deliveries to 66.
Lockheed shares fell 0.9 percent to $319.64 in New York trading on Monday, paring gains over the past year to 11 percent.
