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Lockheed Martin receives $117.6 million for additional lot 3 F/A-22s
May 1, 2003 (by
Jeff Hollenbeck) -
Crediting reduced costs from suppliers as a catalyst, the U.S. Air Force has exercised a contract option by awarding Lockheed Martin $117.6 million to add one F/A-22 aircraft and associated equipment to the Lot 3 Low Rate Initial Production contract awarded earlier last month.
This brings the number of F/A-22s to be procured in Lot 3 to 21 aircraft and moves the total number of production F/A-22s ordered thus far to 44 jets.
The opportunity to procure an additional aircraft in Lot 3 is the direct result of the Air Force's 'Buy to Budget' acquisition strategy approved by the Department of Defense in September 2001, which is still in effect today. The Buy to Budget strategy permits the Air Force to maximize the total number of F/A-22s procured within the program's approved budget cap.
Specific funds for the 21st F/A-22 became available, in part, by recent gains in supplier confidence, which, in turn, led to reduced vender cost quotes. The associated savings, when combined with funds remaining in the approved budget following the Lot 3 contract award, enabled the Air Force to procure an additional aircraft within the fiscal 2003 F/A-22 procurement budget.
'This addition to the Lot 3 contract clearly indicates that our efforts to reduce costs are starting to pay off,' said Ralph Heath, Lockheed Martin Aeronautics executive vice president and F/A-22 program general manager. 'I believe every additional aircraft order reaffirms the U.S. government's continuing commitment to the F/A-22 program.'
In testimony before Congress on April 11, 2003, Dr. Marvin Sambur, assistant secretary of the Air Force for Acquisition, said, 'The F/A-22 is meeting or exceeding all eight aircraft performance-related Key Performance Parameters (KPP). In addition to strong performance on the KPPs, the program successfully completed every calendar year 2002 exit criteria.'
Previously, the U.S. Air Force purchased 23 F/A-22 Raptors during production Lots 1 (10 aircraft) and 2 (13 aircraft). In addition, nine developmental flight-test aircraft and eight operational test and tactics development aircraft were built prior to the program's production authorization in August 2001. To date, all nine developmental test and three operational test aircraft have been delivered to the U.S. Air Force.
The opportunity to procure an additional aircraft in Lot 3 is the direct result of the Air Force's 'Buy to Budget' acquisition strategy approved by the Department of Defense in September 2001, which is still in effect today. The Buy to Budget strategy permits the Air Force to maximize the total number of F/A-22s procured within the program's approved budget cap.
Specific funds for the 21st F/A-22 became available, in part, by recent gains in supplier confidence, which, in turn, led to reduced vender cost quotes. The associated savings, when combined with funds remaining in the approved budget following the Lot 3 contract award, enabled the Air Force to procure an additional aircraft within the fiscal 2003 F/A-22 procurement budget.
'This addition to the Lot 3 contract clearly indicates that our efforts to reduce costs are starting to pay off,' said Ralph Heath, Lockheed Martin Aeronautics executive vice president and F/A-22 program general manager. 'I believe every additional aircraft order reaffirms the U.S. government's continuing commitment to the F/A-22 program.'
In testimony before Congress on April 11, 2003, Dr. Marvin Sambur, assistant secretary of the Air Force for Acquisition, said, 'The F/A-22 is meeting or exceeding all eight aircraft performance-related Key Performance Parameters (KPP). In addition to strong performance on the KPPs, the program successfully completed every calendar year 2002 exit criteria.'
Previously, the U.S. Air Force purchased 23 F/A-22 Raptors during production Lots 1 (10 aircraft) and 2 (13 aircraft). In addition, nine developmental flight-test aircraft and eight operational test and tactics development aircraft were built prior to the program's production authorization in August 2001. To date, all nine developmental test and three operational test aircraft have been delivered to the U.S. Air Force.
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