Business

May 12, 2014

Analysts see significant breakthrough in recent F-35 orders

Recent decisions by the Australian and Turkish governments are signaling a major upturn for Lockheed Martin’s F-35 Joint Strike Fighter program, undoubtedly the brightest star in the future military aircraft market.

In April, the Australian government approved the acquisition of an additional 58 F-35A aircraft. Following a 2009 decision to purchase 14 F-35As, the 58 additional fighters bring Australia’s total approved F-35 buy to 72 aircraft. The government is also considering the acquisition of an additional F-35A squadron in the future, further increasing the country’s F-35 buy.

On May 6, Turkey’s Defense Industry Executive Committee tasked the Undersecretariat for Defense Industries (SSM) with ordering the country’s first two F-35A aircraft. The SSM will order the F-35As as part of the F-35 program’s 10th low-rate initial production lot (LRIP 10). The Turkish government has also reconfirmed its long-term plans to acquire a total of at least 100 F-35As.

Like the Lockheed F-104 Starfighter of the 1950s and 1960s, and the Lockheed F-16 multirole fighter, first produced in the 1970s, the F-35 program is a multinational effort that, despite budget considerations and rising program costs, is attracting nations eager to operate the world’s most advanced stealth aircraft. The recent Australian and Turkish announcements are welcome news to the F-35 program.

According to Forecast International aerospace analyst Raymond Jaworowski, “The Australian and Turkish decisions indicate that initial reluctance by customers to place early orders for the F-35 is dissipating.”

Dan Darling, Europe/Asia-Pacific military markets analyst at Forecast International, commented, “Further boosts may come from a planned South Korean order for the F-35 and a likely purchase by Singapore.”

Three versions of the next-generation F-35 fighter have been developed: the F-35A conventional takeoff and landing version, the F-35B short takeoff and vertical landing aircraft, and the F-35C carrier-based attack aircraft. The U.S. Air Force intends to acquire 1,763 F-35As, while the U.S. Marine Corps plans to procure 340 F-35Bs and 80 F-35Cs and the U.S. Navy intends to buy 260 F-35Cs.

The sheer size of the F-35 program dwarfs all competition. Forecast International projects that a total of 2,019 F-35s, worth an estimated $166 billion, will be produced over the 15-year period from 2014 through 2028 alone, with many more to flow off production lines thereafter. This initial total includes 1,499 F-35As, 325 F-35Bs, and 195 F-35Cs.

Forecast International aerospace analyst Douglas Royce said, “Our projections call for the F-35 to account for nearly 48 percent of the total fighter market over the next 15 years, a statistic that may well rise. Other fighter manufacturers are thus forced to compete for what is left, with the result that a number of other fighter production lines may well go dark during the next decade due to a lack of orders.”

Forecast International aviation gas turbine analyst Will Alibrandi said, “The F-35 is powered by a single Pratt & Whitney F135 turbofan engine. Turkey’s support for the F-35 program is substantiated by its plan to establish a final assembly and maintenance facility for the F135 engine in-country. This new facility could provide depot-level engine maintenance for all F-35 operators in the region. The engines for Turkey’s first F-35As will be produced in the U.S. by Pratt & Whitney, while engines for the planned fleet of 100 aircraft will eventually be assembled at the new facility in Turkey.”

Alibrandi continued, “As the sole supplier for the F-35’s engine, Pratt & Whitney stands to win big. Indeed, Forecast International expects that F135 production, including spares, will top 2,485 through 2028 and add some $27.3 billion to the engine manufacturer’s coffers ñ with much more to follow.”

Aerospace analyst Jaworowski summed it up dramatically, “The F-35’s market potential is outstanding! Nearly any nation that currently operates F-16s, F/A-18s, or AV-8B Harrier IIs is a potential F-35 customer.”




All of this week's top headlines to your email every Friday.


 
 

 
boeing-avianco

Boeing, Avianca celebrate delivery of airline’s first 787 Dreamliner

Boeing and Avianca have celebrated the delivery of the first 787 Dreamliner for the Latin American carrier, helping the airline stay at the forefront of technology in the region. “The addition of the first Boeing 787-8 to...
 
 
boeing-boc-737

Boeing, BOC Aviation finalize order for two additional 737-800s

Boeing and BOC Aviation have finalized an order for two additional 737-800s, valued at $186 million at current list prices. The order is a part of the Singapore-based leasing company’s effort to grow its portfolio of fuel...
 
 

Northrop Grumman names chief compliance officer

Northrop Grumman has named Carl Hahn vice president, chief compliance officer, effective Jan. 15, 2015. Hahn is succeeding Judy Perry Martinez, who will be retiring, and will report to Sheila C. Cheston, corporate vice president and general counsel. “Carl brings to his role at Northrop Grumman a tremendous breadth of experience in global compliance, investigations...
 

 

GPS modernization advances as eighth Boeing GPS IIF becomes sctive

EL SEGUNDO, Calif. ñ The eighth Boeing Global Positioning System IIF satellite has completed on-orbit checkout and joined the active 31-satellite constellation, helping the U.S. Air Force continue modernizing the network that millions of people worldwide use. The Air Force and Boeing have now put four GPS-IIF satellites into service this year, adding to the...
 
 
GPS-OCX

GPS III, OCX successfully demonstrate key satellite command, control capabilities

Lockheed Martin and Raytheon successfully completed the fourth of five planned launch and early orbit exercises to demonstrate new automation capabilities, information assurance and launch readiness of the worldís most powerfu...
 
 

Aerojet Rocketdyne successfully demonstrates 3D printed rocket propulsion system for satellites

Aerojet Rocketdyne has successfully completed a hot-fire test of its MPS-120 CubeSat High-Impulse Adaptable Modular Propulsion System. The MPS-120 is the first 3D-printed hydrazine integrated propulsion system and is designed to provide propulsion for CubeSats, enabling missions not previously available to these tiny satellites. The project was funded out of the NASA Office of Chief...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>