Lockheed Martin revealed a $US4.5 billion ($4.6bn) reduction in costs in 2012 of the F-35 Joint Strike Fighter program in an update report to US congress. It’s worth noting because it’s the first year a cost reduction has been announced and might save Australia millions.
Maybe not:
Furthermore, labor costs are influenced by two factors: the number of hours worked, and the cost of each hour. Hourly costs are unlikely to drop as time goes on, so the only possible gain is by reducing the number of hours worked. While this can happen as the company moves along the learning curve, Lockheed is spending much energy fixing faults and retrofitting “error” aircraft, which should lead to higher, and not lower, labor costs, than budgeted.
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