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Report: DoD Lowers Total Acquisition Cost Estimate for F-35 to $406.1B

The Defense Department estimates the F-35 development and procurement effort to cost the Pentagon $406.1 billion, down from the $406.5 billion projected last year, Bloomberg reported Wednesday.

The Pentagon has reduced its cost estimate for the purchase of 2,456 F-35s by 0.2 percent to $345.4 billion.

The department’s cost projections for the Lockheed Martin-built fighter jets are part of its Selected Acquisition Report that is slated for submission to Congress this week.

The document does not contain the estimated cost for the aircraft’s software upgrades discussed during a House panel hearing March 7, the report added.

Rep. Niki Tsongas (D-Massachusetts) said before a House Armed Services subpanel the F-35 modernization cost estimate through 2024 includes $10.8 billion for software development and $5.4 billion for upgrade deployment and other procurement efforts.

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