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Pentagon can t say when Lockheed F-35 will finish combat testing

Pentagon officials still haven’t set a date for Lockheed Martin’s F-35, the costliest U.S. weapons system, to complete the final 42% of mission testing to determine whether it’s up to countering the top Russian and Chinese air defenses and fighters.

Lockheed Martin reports rare profit miss as pandemic hits F-35 deliveries

Lockheed Martin reports rare profit miss as pandemic hits F-35 deliveries Written by Reuters - 64 The logo of Lockheed Martin is seen at Euronaval, the world naval defence exhibition in Le Bourget near Paris, France, 23 October 2018. - Reuters Lockheed Martin Corp on Tuesday missed profit estimates for the first time in the last eight quarters as the COVID-19 pandemic disrupted deliveries of the US weapons maker’s F-35 jets and caused supplier delays. Shares of the company were down about 2.3% after it said fourth-quarter deliveries of its F-35 jets fell to 42 from 51 a year earlier. Progressive Democrats in Congress have called for cuts in military spending amid the global health crisis, although analysts have said sudden changes are unlikely in an industry that has supported countless jobs during the recession.

Lockheed Martin buys Aerojet Rocketdyne for $4 4 billion

Dec 21, 2020 3:28 PM EDT BETHESDA, Md. (AP) Lockheed Martin is buying rocket engine manufacturer Aerojet Rocketdyne Holdings for $4.4 billion in a deal that brings together companies that already had been working together in the aeronautics industry. The acquisition announced late Sunday is part of Lockheed Martin’s attempt to gird for competition from recent industry entrants, Space X and Blue Origin, which are backed by two of the world’s richest men, Elon Musk and Jeff Bezos. “Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base and reduce costs for our customers and the American taxpayer,” Lockheed Martin CEO James Taiclet said in a statement.

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