F 35 Stealth Fighter

October 24, 2013 by  

F 35 Stealth Fighter, Lockheed Martin’s (LMT) F-35 continues to draw interest from foreign militaries despite delays and cost overruns, mirroring Boeing’s (BA) recent glitch-plagued history with its 787 Dreamliner.

South Korea is nearing a decision to buy the F-35 stealth fighter, possibly along with a limited number of Boeing F-15s, sources told Reuters.

Last month, Seoul rejected Boeing’s $7.7 billion bid to supply 60 F-15 Silent Eagles. It was the only one to fall under the Korean government’s budget threshold, making it appear as the likely pick.

But rivalries in the region are strong, and Japan’s F-35 order may have affected Korea’s decision to reject Boeing’s non-stealth jet, Richard Aboulafia, vice president of the Teal Group, told IBD in an earlier interview.

Lockheed shares were up 0.6% in the stock market today. Boeing shares dipped 0.4%, despite securing an order for passenger jets from Korean Air.

Production of the F-35 has been marred by contractors failing to meet quality expectations. A recent audit from the Pentagon inspector general found hundreds of deficiencies, though Lockheed and the program office say many have already been fixed.

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