Lovitt Technologies awarded $1.5 million JSF-related grant

Precision engineering and CNC machining business Lovitt Technologies has been awarded a $1.5 million Joint Strike Fighter Industry Support Program – Production and Modernisation grant.

Lovitt is the first recipient under the program, which provides up to 50 per cent of funding for projects developing “new or improved capabilities to secure work from the lucrative program.”

The Greensborough, Melbourne company will put the grant towards investment in a next-generation machining centre, training for staff, and upgrades to equipment and software.

According to a statement from Defence on Tuesday, over 70 Australian companies had so far benefited from over $3.7 billion in global F-35 production and sustainment contracts so far.  

“Australian industry is poised to increase its contribution to the global F-35 Program, which has more than 930 aircraft with an expected global fleet of over 3000,” Defence’s Head of Aerospace Systems Divisions, Air Vice-Marshal Graham Edwards, said.

“These commercial contracts and grants create great opportunities and flow on economic benefits to small and unique Australian businesses through supply chain work,” Air Vice-Marshal Edwards said.

Grants under the program offer matched funding of between $150,000 and $1.5 million to participants, which can be companies or research institutes. More information can be seen here.

Picture: credit Defence