Aerospace and defense firm Cobham has snapped up the defense business of British composite manufacturer Tods Aerospace after it was placed into administration.
Lockheed Martin now expects to deliver 18-24 fewer F-35s in 2020 than the program’s 141-aircraft goal due to supply chain disruptions caused by the novel coronavirus pandemic, the company said May 19.
As many as a fifth of lower-tier suppliers in aerospace and defense could exit the sector over the next 18 months as COVID-19 disrupts the commercial aviation market and hurts the defense industrial base, seasoned supply chain experts have told Aviation Week.
Along with other measures, such as 30-50% cuts to cash wages, the reduction in force should still mean the company at a minimum remains at cash breakeven.