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Market Chatter: Lockheed Delivers 72 F-35 Jets After Software Delays, Payments Still Withheld
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Market Chatter: Lockheed Delivers 72 F-35 Jets After Software Delays, Payments Still Withheld
Jul 15, 2025 4:59 AM

07:30 AM EDT, 07/15/2025 (MT Newswires) -- Lockheed Martin ( LMT ) delivered all 72 F-35 jets that had been parked at its Fort Worth, Texas, facility as of May 1 due to delayed software upgrades, Bloomberg News reported Tuesday, citing the Pentagon's program office.

The Defense Department had reportedly been withholding up to $5 million per jet until the Technology Refresh 3 upgrade was proven to support full training and combat use.

In January, about $1.2 million per plane was released after Lockheed demonstrated progress, but most of the funds remain withheld and will be released incrementally through next year, the news outlet reported.

The delay prompted the Pentagon to cut its fiscal 2026 jet request from 75 to 47, citing higher costs to maintain readiness levels, Bloomberg reported.

A Government Accountability Office official reportedly said the withheld payments were justified, but delays in TR-3 deployment also slowed other upgrades promised to the military.

Lockheed Martin ( LMT ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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