LMT - Lockheed F-35's software upgrade said to face another delay

2023-03-30 15:07:02 ET

The first F-35 fighter jet with upgraded software for advanced capabilities possibly will be delayed by another year, Bloomberg News reported, citing a disclosure by a U.S. congressman.

The F-35, which is made by defense contractor Lockheed Martin ( NYSE: LMT ), must have the improved technology in order to be loaded with more precise weaponry and to collect data about enemy aircraft and air defenses.

The possible delay until April 2024 puts the F-35 upgrades 16 months behind its original schedule, Rep. Rob Wittman, R-Va., disclosed in a hearing on Wednesday, Bloomberg News reported.

Seeking Alpha has asked Lockheed Martin ( LMT ) for comment, and will update this story as needed.

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