Pratt & Whitney Awarded F135 Production Contract for Lots 15-17

Rhea-AI Summary

On March 6, 2023, Pratt & Whitney, part of Raytheon Technologies (NYSE: RTX), secured a $5.2 billion contract for the production of the 15th and 16th lots of F135 engines, with options for a 17th lot. This contract supports the F-35 Lightning II fighter aircraft and encompasses a total contract value of approximately $8 billion for lots 15-17. The deal includes funding for production management, engineering support, and tooling for up to 518 engines. Pratt & Whitney's efforts have successfully reduced the average unit cost of an F135 engine by over 50%, yielding projected savings of $8.1 billion since the program's inception.

Positive

• Awarded a $5.2 billion contract for F135 engine production.
• Total contract value for lots 15-17 is approximately $8 billion.
• Production of up to 518 engines supports U.S. and international customers.
• Average unit cost of F135 engines reduced by over 50%.
• Program supports over 53,000 jobs across 36 states.

Negative

• None.

EAST HARTFORD, Conn., March 6, 2023 /PRNewswire/ -- Pratt & Whitney, a Raytheon Technologies (NYSE: RTX) business, announced today that it has been awarded a $5.2 billion contract to support production of the 15th and 16th lots of F135 engines, with an option to award a 17th Lot, powering all three variants of the F-35 Lightning II fighter aircraft.

"This marks a major milestone for the program," said Jen Latka, Pratt & Whitney's vice president for the F135 program.

The Lots 15-17 production contract funds production of 278 F135 engines with an option to order up to a total of 518 engines. The contract also includes program management, engineering support, production support and tooling. The total contract value for lots 15-17, with exercised options, is approximately $8 billion and will fund over 418 F135 engines with options for the U.S. as well as international customers.

"This marks a major milestone for the program," said Jen Latka, Pratt & Whitney's vice president for the F135 program. "This contract award enables us to continue delivering critical 5^th Generation propulsion capability to the warfighter at a fair and reasonable cost for the taxpayer."

Since program inception, Pratt & Whitney's "war on cost" efforts have reduced the average unit cost of an F135 by more than 50 percent, contributing to an estimated $8.1 billion in cumulative engine savings over the life of the program.

Pratt & Whitney worked aggressively to drive production efficiencies, optimize its supply base as well as invest in strategic initiatives -- such as the new turbine airfoil facility in Asheville, North Carolina -- to reduce cost wherever possible.

Evolved from the F119 engine powering the F-22 Raptor, the F135 is the most powerful and most advanced fighter engine in the world, delivering a step change in capability over the previous generation of engines. This includes a substantial increase in thermal management capacity enabling the full spectrum of F-35 weapons and sensor capabilities; a precise and responsive integrated engine control system allowing the pilot to focus squarely on the mission; and an unmatched low observable signature enabling the F-35 to conduct operations in modern Anti-Access/Area Denial (A2AD) environments.

The F135 program is a major driver of economic growth around the country, supporting more than 53,000 jobs across 36 states.

As of December 2022, Pratt & Whitney has delivered more than 1,000 F135 production engines.

About Pratt & Whitney
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft and helicopter engines, and auxiliary power units. To learn more visit prattwhitney.com. To receive press releases and other news directly, please sign up here.

Pratt & Whitney
+1 (860) 565-9600
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SOURCE Pratt & Whitney

FAQ

What is the value of the recent F135 engine contract awarded to Pratt & Whitney?

The recent contract awarded to Pratt & Whitney for the F135 engine production is valued at $5.2 billion.

How many engines will be produced under the F135 contract?

The contract supports the production of a total of up to 518 engines.

What is the total contract value for F135 lots 15-17?

The total contract value for F135 lots 15-17 is approximately $8 billion.

How has Pratt & Whitney reduced F135 engine costs?

Pratt & Whitney has reduced the average unit cost of the F135 engine by over 50% through various efficiency improvements.

What economic impact does the F135 program have?

The F135 program supports over 53,000 jobs across 36 states, contributing significantly to economic growth.