F-35 Joint Strike Fighter Current Outlook Is Improved, But Long-Term Affordability Is a Major Concern

The F-35 Lightning II, the Joint Strike Fighter, is the Dept. of Defense’s (DOD’s) most costly and ambitious aircraft acquisition. The program is developing and fielding three aircraft variants for the Air Force, Navy, Marine Corps, and eight international partners. The F-35, critical to long-term recapitalization plans as it is intended to replace hundreds of existing aircraft, will require a long-term sustained funding commitment. Total U.S. investment is nearing $400 billion to develop and procure 2,457 aircraft through 2037. The F-35 program has been extensively restructured over the last 3 years to address prior cost, schedule, and performance problems. This report addresses (1) F-35 program performance during 2012, including testing, technical risks, and software; (2) manufacturing performance indicators, production results, and design changes; and (3) acquisition and sustainment costs going forward. Tables and figures. This is a print on demand report.