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Lockheed CFO Kenneth Possenriede Forecasts Annual F-35 Delivery Growth

Lockheed CFO Kenneth Possenriede Forecasts Annual F-35 Delivery Growth - top government contractors - best government contracting event
Kenneth Possenrie
Kenneth Possenrie

Kenneth Possenriede, executive vice president and chief financial officer of Lockheed Martin, has said the company remains on track to deliver 140 F-35 jets this year and aims to increase its fighter aircraft deliveries each year, Flightglobal reported Friday.

He told analysts during an earnings call Tuesday the number of F-35s Lockheed builds for military customers worldwide could reach 180 in 2024.

The Besthesda, Md.-based company proposed a five-year arrangement in September 2019 to help the Department of Defense save up to $1B in fighter plane sustainment costs.

Lockheed aims to reduce the total cost per flying hour for the F-35 program to less than $25K by fiscal 2025.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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