Lockheed Martin promotes F-35 as economic ‘catalyst’ ahead of UK budget
Lockheed Martin expects all remaining Tranche 1 F-35Bs to be delivered by the end of 2025. (Photo: UK Crown Copyright)
The company estimated a gross value add to the UK economy of £45.2 billion up to 2046, with the F-35 programme sustaining more than 20,000 UK jobs over its development, production, integration and maintenance.
Lockheed Martin has highlighted the strategic and economic importance of the F-35 within the UK, ahead of an informal showcase of its capabilities alongside other key partners in Team Lightning UK with government ministers and MPs.
The update from the US company came ahead of updated UK defence expenditure figures which will be expected to be published as part of the government’s budget announcement later this week. The UK’s governing Labour Party has committed to increasing defence spending to 2.5% of GDP, although defence spending cuts have been implied by ministers with no definitive timeline mapped out to achieve the 2.5% goal.
At present, Lockheed Martin claimed
Already have an account? Log in
Want to keep reading this article?
Read this Article
Get access to this article with a Free Basic Account
- Original curated content, daily across air, land and naval domains
- 2 free store ies per week
- Daily news round-up email service
- Access to all Decisive Edge email newsletters
Unlimited Access
Access to all our premium news as a Premium News 365 Member. Corporate subscriptions available.
- Original curated content, daily across air, land and naval domains
- 14-day free trial (cancel at any time)
- Unlimited access to all published premium news
Related
UK on the brink of a recession and jobs ‘will…
Labour has been warned that the UK is on the brink of a recession and the economy is fast heading for “the worst of all worlds.” According to the Office
UK insurer Aviva to shed up to 2,300 jobs in…
By Chandini Monnappa and Lawrence White LONDON (Reuters) -British insurer Aviva could cut up to 2,300 jobs as it takes over smaller rival Direct Line in a 3
Administration Officer – Job | ArtsHub UK – Arts Industry…
Job Summary A fantastic opportunity to gain a wide range of experience in a central role within a high-profile arts organisation. Job Description T
Estates Administrator – Job | ArtsHub UK – Arts Industry…
Job Summary We are looking for an Estates Administrator to join us on a part-time basis working in the afternoon. Based on our reception at 39 Watersi
