Lockheed Martin F-35 costs surge $51 billion, driven by system upgrades

Lockheed Martin Corp.’s F-35 program costs increased by approximately $51 billion since the end of 2023, according to Bloomberg.

Necessary upgrades to software, readiness, and spare parts availability drove the price hike. Improvements to the engine’s power capabilities also contributed to the rising expenses.

This development increases financial pressure on the Pentagon’s most expensive weapons system. The higher costs may impact future procurement plans for the U.S. military and its international allies.