Aerospace and Defense

Lockheed Martin signs more long-term contracts

The company Lockheed Martin has succeeded in getting more F-35 suppliers for a longer duration.  Collaboration with performance-based logistics (PBL) and master repair agreements (MRAs) to improve performance and reduce cost.

Greg Ulmer, the vice president, and general manager of the F-35 program mentioned that the company has taken this action for fleet expansion. The F-35 global supply chain is an important part of the company business. With the help of cost reduction policies and mergers, the company is trying to find the best possible solutions.

The company established 12 MRAs with main suppliers, to improve the maintenance capacity and time taken. F-35 fleet is growing due to the implementation of contracts done earlier.

With more aircraft coming into picture companies are working towards finding the best ways to achieve their goals. Through this program, the company is working on different programs. Programs that will help in building the supply chain capacity, handling of inventory and speeding the modifications of earlier aircraft.

Joint Program Office-led Hybrid Product Support Integration (HPSI) team and Global Support Solution (GSS) are working together. To improve readiness and reduce the overall costs of overall production.

The F-35’s accuracy and readiness are improving, and better production of aircraft is more than 60% of mission-ready rates and few operational squadrons to average nearly 70%. Additionally, Lockheed Martin has reduced its portion of functioning costs/aircraft by 15% since 2015. The goal of F-35 enterprise is to achieve 80% of the rates and achieve the target of USD 25,000/hour by   2025.  This is the actual cost needed to maintain the aircraft and to be in line with the generation.

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Nancy Brown

Nancy is working as an author of the aerospace news segment. Stacy follows a result-oriented approach to make sure that every piece of content provided remains clear and precise. By incorporating her knowledge of the field Nancy is able to deliver attention to every minute detail. She is a great asset to the Global Industry Trends team and has contributed immensely to the success of the team.

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