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Delayed TR-3 upgrades force Lockheed Martin to push back F-35 fighter delivery plan beyond 2023

Lockheed Martin anticipates that it will be incapable of fulfilling its 2023 delivery target for the F-35 Lightning II fighter jets of the fifth generation due to a delay in the Technology Refresh 3 (TR-3) upgrade.

Here’s What We Know. In December 2022, the corporation stated that it aimed to supply 147-153 fighter planes in 2023 and 2024. Nonetheless, CEO Jim Taiclet and CFO Jay Malave estimate that the actual number of deliveries will be less than that.

They made this known in a conversation with shareholders this week. The TR-3 hardware and software modernisation kit will improve the F-35’s processing core and lay the foundation for a larger Block 4 upgrade that will improve its electronic warfare abilities.

The TR-3 upgrade is running 12 months behind schedule. It is probable that the modernisation will occur from December 2023 to April 2024. Jim Tyklet confirmed that testing of the F-35 TR-3 aircraft could be completed between October and December of this year.

At the same time, the CEO believes that the modernisation delay will not affect Lockheed Martin’s revenues and profits in 2023. The company generated almost $15 billion in revenue and $1.7 billion in profit at the end of the first quarter.

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