Pratt & Whitney awarded $66 million for F135 Engine Core Upgrade work

(Low)

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Tags

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

07/11/2023 - 12:24 PM EDT

EAST HARTFORD, Conn., July 11, 2023 /PRNewswire/ -- Pratt & Whitney, an RTX (NYSE: RTX) business, has been awarded a $66 million definitized contract modification for continued F135 Engine Core Upgrade preliminary design efforts, resulting in a total of $180 million secured by the Connecticut congressional delegation for this engine modernization effort. The funding will further support design engineering, program management support, technology maturation, risk reduction, long lead material and hardware purchase, and weapons system integration.

"We're extremely grateful for the ceaseless support we receive from the entire Connecticut delegation," said Jen Latka, Pratt & Whitney's vice president for the F135 program. "We'll use this funding to make quick progress on our Engine Core Upgrade's preliminary design efforts, and that will keep us on track to deliver this important capability starting in 2028."

In March 2023, the U.S. Air Force, U.S. Marine Corps, and U.S. Navy chose to upgrade the F135 versus replace it with an entirely new engine. The decision was announced as part of President Biden's 2024 budget proposal.

"A modernized F-35 needs a modernized engine to support it. The additional $66 million for the F135 Engine Core Upgrade we've secured will help us maintain a skilled work force in Connecticut and around the country to deliver this much-needed capability," said Rep. Rosa DeLauro, ranking member of the House Appropriations Committee. "Upgrading the F135 is the right decision to support our national defense priorities and defense industrial base, and I'll continue to ensure this program gets the support and funding it needs."

The F135 ECU is the fastest, most cost-effective, and lowest-risk path to Block 4 capability for all global F-35 operators. It is optimized for all three F-35 variants and will yield $40 billion in lifecycle cost savings by avoiding disruptive and costly air vehicle changes and leveraging the current global sustainment infrastructure.

On June 30, 2023, Lockheed Martin posted their support for the F135 ECU, touting their commitment to supporting the U.S. Government's decision.

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

About RTX
RTX is the world's largest aerospace and defense company. With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney, and Raytheon – we are advancing aviation, engineering integrated defense systems for operational success, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2022 sales of $67 billion, is headquartered in Arlington, Virginia.

Pratt & Whitney
+1 (860) 565-9600
media@prattwhitney.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/pratt--whitney-awarded-66-million-for-f135-engine-core-upgrade-work-301874488.html