AssetID: 54919431
Headline: UNCAPTIONED: Lockheed Martin Delivers 72 F-35s After Software Delays
Caption: Lockheed Martin Delivers 72 F-35s After Software Delays. Lockheed Martin has delivered 72 F-35 fighter jets to the U.S. government as of May 1, following months of delays tied to overdue software upgrades. The delay stemmed from Technology Refresh 3—a major software and hardware overhaul aimed at boosting the jet's processing power and cockpit displays. Due to the setback, the Pentagon had been withholding $5 million per jet since last year. That penalty was eased slightly in January, reduced to $3.8 million per plane after Lockheed showed signs of progress. However, most withheld funds remain frozen, and future payments will be released incrementally into 2026. The F-35 program makes up about 30% of Lockheed Martin's revenue, but it may take a further hit soon—with the Trump administration requesting fewer jets in its 2026 defense budget. Lockheed declined to comment ahead of its Q2 earnings report next week. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current affairs & Politics,Lockheed Martin,F-35,fighter jets,delivery,72 aircraft,U.S. government,May 1,software delays,Technology Refresh 3,hardware upgrade,software upgrade,cockpit displays,Pentagon,withheld payments,\$5 million penalty,reduced to \$3.8 million,frozen funds,incremental payments,2026,Trump administration,defense budget,revenue impact,Q2 earnings report.
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