Lockheed Martin expects that it will not be able to meet the delivery plan for the fifth generation F-35 Lightning II fighter in 2023. The reason is the delay in the Technology Refresh 3 (TR-3) upgrade.

What is known

In December 2022 Lockheed Martin stated, which expects to deliver 147-153 fighters in 2023 and 2024. The company’s chief executive officer, Jim Taiclet, and chief financial officer, Jay Malave, believe that actual deliveries will be lower. They announced this during a telephone conversation with investors this week.

The TR-3 hardware and software upgrade kit will improve the F-35’s compute core and form the basis for a larger Block 4 upgrade that will increase electronic warfare capabilities. TR-3 update lagging behind from the schedule for 12 months. The upgrade will likely take place between December 2023 and April 2024.

Jim Tyclet confirmed that testing of the F-35 TR-3 could be completed between October and December this year. At the same time, the executive director believes that the delay in modernization will not affect the income and profit of Lockheed Martin in 2023. According to the results of the first quarter, the company’s revenues amounted to almost $15 billion, and profit – $1.7 billion.

Source: Defense News