By Kathleen Miller, Tony Capaccio & Danielle Ivory | Bloomberg
The Pentagon envisioned the F-35 Joint Strike Fighter as an affordable, state-of-the-art stealth jet serving three military branches and U.S. allies.
Instead, the Lockheed Martin Corp. (LMT) aircraft has been plagued by a costly redesign, bulkhead cracks, too much weight, and delays to essential software that have helped put it seven years behind schedule and 70 percent over its initial cost estimate. At almost $400 billion, it’s the most expensive weapons system in U.S. history.
It is also the defense project too big to kill.