LMT - Who Will Build America's Next Great Fighter Jet?
2023-05-27 05:05:00 ET
Once upon a time, Lockheed Martin (NYSE: LMT) built the most expensive fighter jet in the world, the F-22 Raptor. Stealthy, fast, ultra-maneuverable, and equipped with advanced sensor systems, the fifth-generation F-22 was considered the world's best fighter jet when introduced in 2005. Unfortunately, the F-22 was so expensive (exceeding $400 million per unit) that the Pentagon ultimately cut short the plane's production at just 187 units -- well under the 648 planes originally envisioned.
And now, it looks like the Air Force is planning to make the exact same mistake again.
After years of hemming and hawing, the U.S. Air Force has decided to proceed with the development of a new best-in-the-world fighter jet -- the Next Generation Air Dominance fighter (NGAD) -- to replace the F-22. On Thursday last week, the Air Force released a classified solicitation inviting America's jet-makers to submit proposals to develop this sixth-generation fighter.
For further details see:
Who Will Build America's Next Great Fighter Jet?