ANN ARBOR, Mich., September 26, 2022 /PRNewswire/ — “Lockheed Martin’s F-35 program is the most economically significant defense program in history, but previous estimates of its impact on the US economy are conservative,” it said Richard Aboulafia, CEO of AeroDynamic Advisory. “Taking into account all of Lockheed Martin’s subcontractor activities, as well as the vital sustainment activities required to support this aircraft, the actual economic impact is at least 10% greater than originally estimated,” he said Kevin MichaelsManaging Director at AeroDynamic Advisory.
AeroDynamic Advisory recently conducted an independent review of the F-35 program. It was briefed on Lockheed Martin’s economic impact methodology and provided access to its internal activities and the spend data of its Tier 1 suppliers.
Based on its decades of aerospace consulting experience and proprietary databases, AeroDynamic Advisory concludes that Lockheed Martin’s initial annual estimate of the economic impact of $65 billion is conservative. AeroDynamic’s estimate is approximate $72 billion. This estimate reflects monies spent on internal manufacturing and final assembly activities, as well as direct spend with multiple tiers of suppliers and a wide range of sustainability activities. These activities, in turn, generate indirect economic activity, a measure of the F-35’s impact on the broader non-aerospace economy.
“Previous estimates excluded some activity from sub-tier suppliers where data was not readily available. Additionally, while F-35 production gets the lion’s share of attention, there are key sustainability activities such as maintenance, engineering and training that also contribute to the programs impact,” Michaels said.
AeroDynamic Advisory is a specialist consulting firm focused on the global aerospace industry. It is based in Ann Arbor, Michigan and specializes in aerospace strategy and growth, MRO, transaction support, customer satisfaction and commercial development. Visit https://aerodynamicadvisory.com/f35/ to access AeroDynamic Advisory’s F-35 Economic Impact Assessment.
Contact: Chelsea Yi
[email protected]
734-652-3329
SOURCE AeroDynamic Advisory
Comments are closed.