Compared to the previous LRIP production contract, unit prices for 86 conventional takeoff and landing (CTOL) and carrier variant (CV) propulsion systems were reduced by 2.6 percent, and unit prices for 13 LRIP 10 short takeoff and vertical landing (STOVL) propulsion systems, including Rolls-Royce Lift Systems, were reduced by 4.2 percent.
"Pratt & Whitney and our supply base remain focused on delivering the F135 propulsion system to the warfighter at or below the cost targets established in 2009 for our U.S. and international customers," said Mark Buongiorno, vice president, Pratt & Whitney F135 Engine Program. "This agreement for the next lot of F135 engines continues to drive down costs, and we intend to keep up this momentum as we transition from the War on Cost initiative and continue to pursue cost saving opportunities."
Since 2009, Pratt & Whitney has reduced the cost of the common CTOL and CV F135 engines by half, and the STOVL propulsion system by nearly 35 percent. The U.S. Government has also invested in improvements to F135 affordability. Combined, the Pratt & Whitney and U.S. Government investments since 2009 are projected to yield approximately $7.5 billion in savings over the decades-long life of the F-35 program.
To date, Pratt & Whitney has delivered 288 F135 production engines, and deliveries of LRIP 10 engines will start in 2017. With the anticipated delivery of engine 300 later this year, targeted investments and design enhancements will continue to drive additional cost savings for the F-35 program.
About Pratt & Whitney
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units. United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. To learn more about UTC, visit its website at www.utc.com, or follow the company on Twitter: @UTC.
This press release contains forward-looking statements concerning future business opportunities and projected savings. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in government procurement priorities and practices, budget plans and availability of funding, and in the number of aircraft to be built; challenges in the design, development, production and support of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corp.'s Securities and Exchange Commission filings.
For more information about Pratt & Whitney, visit http://www.pratt-whitney.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/f-35-joint-program-office-awards-pratt--whitney-lrip-10-contract-for-f135-engines-300295807.html
SOURCE Pratt & Whitney