Pentagon’s F-35 Cost Rises 10% to $485 Billion to Fix Overheating Engines
A US Air Force F35A fighter jet manufactured by Lockheed Martin Corp.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
The Pentagon’s cost to develop and produce Lockheed Martin Corp.’s F-35 has risen almost 10% to about $485 billion now that money needed for engine improvements has been included in the official estimate for the costliest US weapons system.
The previous $442 billion estimate for the fighter jet was changed officially earlier this year, but that wasn’t disclosed until the Defense Department’s latest Selected Acquisition Report assessing the program was posted online recently.