"Lockheed Warns of Further F-35 Upgrade Delays, Impacting Deliveries"

Lockheed Martin's production of the latest upgraded F-35 Joint Strike Fighters, featuring Technology Refresh 3 (TR-3) upgrades, is facing further delays, with deliveries not expected to resume until the third quarter of 2024. The TR-3 upgrades are necessary for preparing the F-35 for a subsequent wave of enhancements known as Block 4. The delays have resulted in a $400 million hit to Lockheed's sales, and the company is working to address software problems and integration challenges. The Pentagon and Lockheed are collaborating on a plan to accept undelivered jets before full TR-3 capabilities are validated, and the company is aiming to begin delivering TR-3 jets in the third quarter of 2024.