I'm listening to a webcast by Bruce Tanner, Lockheed Martin chief financial officer, who is briefing analysts about the company's third quarter earnings. Here's what he just said.
This isn't exactly a huge surprise, of course. Current schedules call for the F-35 to be in full-rate production for the US military and foreign customers by 2016. I have just never thought of it in quite those terms.
Keep in mind that Lockheed sees 75 cents of every dollar spent on the F-35, with the remainder split between BAE Systems and Northrop Grumman. So the true value of the F-35 business to industry could be more like $20 billion per year in 2016.
I think we've talked about, within Aeronautics having, Aeronautics get to about $20 billion a year business area by 2015. F-35 is probably $15 billion-$16 billion of that - that timeframe. So we will be honest, I would like to have to reach those between 2010 and 2015.
This isn't exactly a huge surprise, of course. Current schedules call for the F-35 to be in full-rate production for the US military and foreign customers by 2016. I have just never thought of it in quite those terms.
Keep in mind that Lockheed sees 75 cents of every dollar spent on the F-35, with the remainder split between BAE Systems and Northrop Grumman. So the true value of the F-35 business to industry could be more like $20 billion per year in 2016.
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