The F-35 aircraft was not available to fly 50% of the time in 2024, 17% lower than the average minimum performance requirement, as per the Defense Department's Office of the Inspector General.
- The F‑35 program is the DoD’s largest acquisition program with an estimated cost of over $2 trillion to buy, operate and sustain the F-35 over its lifetime.
- The watchdog alleged that the F-35 JPO did not always hold Lockheed Martin accountable for poor performance related to F‑35 sustainment.
- As a result, the Department paid Lockheed $1.7 billion by July 1, 2025 without economic adjustment although it failed to meet “minimum military service requirements,” it added.
The U.S. fleet of F-35 fighter jets’ lack of availability in 2024 was largely because of Lockheed Martin’s poor maintenance, according to a report from the Defense Department's Office of the Inspector General.
“Although the F‑35 JPO monitored Lockheed Martin’s performance, it did not always hold Lockheed Martin accountable for poor performance related to F‑35 sustainment,” the watchdog report said. It added that this occurred because of the lack of aircraft readiness performance or other measurable contract requirements and the dearth of material inspection and government property reporting requirements in the June 2024 contract with Lockheed.
As a result, the Department paid Lockheed $1.7 billion by July 1, 2025 without economic adjustment although it failed to meet “minimum military service requirements,” it added. The F-35 aircraft was not available to fly 50% of the time in 2024, 17% lower than the average minimum performance requirement, it said.
About the F35 program
The F‑35 program is the DoD’s largest acquisition program with an estimated cost of over $2 trillion to buy, operate and sustain the F-35 over its lifetime. The F-35 Joint Program Office (JPO) is responsible for the jet’s production and sustainment contracting.
Trump Heightens Pressure On Defense Contractors
Earlier this week, President Donald Trump said he plans to confront major defense contractors over slow military production, while signaling tighter scrutiny of buybacks, capital spending and executive pay.
Trump said the upcoming meetings with defense companies would focus on production timelines, capital expenditures and how firms allocate cash. He also said companies should prioritize expanding factories, shipyards and production lines.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around LMT stayed within the ‘bullish’ territory over the past 24 hours, while message volume stayed at ‘low’ levels.
LMT stock has fallen about 1% this year and over the past 12 months.
For updates and corrections, email newsroom[at]stocktwits[dot]com<
