The Joint Strike Fighter on show at Australian International Airshow

At the root of the F-35's operation-and-support cost savings is an airplane that sets new standards for reliability and ease of maintenance. Because thousands of F-35s will be deployed worldwide, a Global Sustainment plan is under development that exploits that reliability and streamlines the worldwide supply chain to ensure that each F-35 is always ready when needed.

"F-35 customers are not just buying an airplane. They're also getting our commitment to provide an affordable, multi-mission strike capability for the better part of this century," Gill said.

The F-35 is a next-generation, supersonic, multi-role stealth aircraft designed to replace the AV-8B Harrier, A-10, F-16, F/A-18 Hornet and the United Kingdom's Harrier GR.7 and Sea Harrier. Three F-35 variants - a conventional takeoff and landing (CTOL), a short-takeoff/vertical-landing (STOVL) and a carrier variant (CV) - each derived from a common design will ensure that the F-35 meets the performance needs of the U.S. Air Force, Marine Corps, Navy, the U.K. Royal Air Force and Royal Navy, and allied defense forces worldwide, while staying within strict affordability targets.

Lockheed Martin Aeronautics Co., a business area of Lockheed Martin, is a leader in the design, research and development, systems integration, production and support of advanced military aircraft and related technologies. Its customers include the military services of the United States and allied countries throughout the world. Products include the F-16, F/A-22, F-35 JSF, F-117, C-5, C-130, C-130J, P-3, S-3 and U-2. The company produces major components for the F-2 fighter, and is a co-developer of the C-27J tactical transport and T-50 advanced jet trainer.