The F-35s in low-rate initial production lot (LRIP) 4 are expected to exceed their contracted cost target, but fall below the negotiated ceiling price, says Tom Burbage, vice president of F-35 program integration for Lockheed Martin. The company is roughly 30% of the way through the build of the aircraft, so the estimate at completion on the contract is “immature,” Burbage notes. The LRIP 4 contract, the first fixed-price, incentive-fee deal for Joint Strike Fighter production, allows ...

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