US Air Force starts final F-22 talks with Lockheed Martin

Posted on: Mar. 3rd, 2006 || Source: marketwatch.com | E-mail Article | Print Article

WASHINGTON (MarketWatch) -- The U.S. Air Force on Thursday announced the launch of talks with Lockheed Martin Corp. (LMT) and United Technologies Corp.'s (UTX) Pratt & Whitney unit on the final round of F-22 stealth fighter purchases.

If Congress agrees, the Air Force plans to end the F-22 Raptor line after 183 airplanes, according to the latest Pentagon budget plan. That number is a fraction of initial plans, before budget constraints led the Pentagon to shrink the program dramatically.

Lockheed Martin makes the F-22 and also its successor, the F-35 Joint Strike Fighter, a less advanced but more internationally appealing fighter jet. Pratt & Whitney makes engines for both planes.

The F-22 currently costs in the neighborhood of $130 million per plane, not including development costs. A multi-year contract could drive per-plane costs down, but the cuts to the total program mean the planes cost several hundred million dollars each if development is factored in.

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