Hello, Guest!
  • Friday, April 19, 2024

Lockheed Awarded $5B Modification on F-35 Production Contract with Navy


F35Lockheed Martin (NYSE: LMT) has been awarded a potential $5.4 billion contract modification to provide a total of 55 F-35 low-rate initial production fighter planes to multiple domestic and international defense customers.

The award modifies a previously received LRIP Lot 9 advance acquisition contract, and about $625 million in fiscal 2016 U.S. military aircraft procurement funds and foreign military sales funds are being obligated at the time of award, the Defense Department said Tuesday.

Lockheed will build F-35As for the U.S. Air Force and the governments of Norway, Israel and Japan.

The U.S. Marine Corps and the British navy ordered F-35Bs, while the U.S. Navy bought F-35Cs.

The Naval Air Systems Command in Maryland is the contracting activity.

Lockheed will perform work at various sites in Texas, California, Florida, Maryland and New Hampshire, as well as at international facilities in the U.K and Japan, through December 2017.

Video of the Day

Related Articles

State Department Clears $148M Sale of 155mm M107 Projectiles to Israel News

State Department Clears $148M Sale of 155mm M107 Projectiles to Israel

The State Department approved a proposed sale of 155mm M107 hollow forged steel artillery projectiles and related equipment to the government of Israel for an estimated $147.5 million. The Defense Security Cooperation Agency said Friday it notified Congress of the deal, which amends a previous order of 4,792 rounds of ammunition valued at $96.5 million.

Sikorsky Receives $2.7B Navy CH-53K Helicopter Production Contract Contract Awards

Sikorsky Receives $2.7B Navy CH-53K Helicopter Production Contract

Lockheed Martin’s (NYSE: LMT) Sikorsky subsidiary has secured a potential $2.7 billion contract from the U.S. Navy to develop and deliver 35 more CH-53K King Stallion heavy-lift helicopters. The contract includes the development of 12 units of Lot 7 CH-53Ks and 15 Lot 8 aircraft for the U.S. Marine Corps and eight helicopters for Israel’s

GE Aerospace Books $684M Contract to Manufacture Turboshaft Engines for US Navy, Israel Contract Awards

GE Aerospace Books $684M Contract to Manufacture Turboshaft Engines for US Navy, Israel

GE Aerospace will build T408-GE-400 turboshaft engines to power CH-53K production helicopters for the U.S. Navy and the Israeli government under a $683.7 million contract. The Navy ordered 129 engines under full-rate production lots six to eight, while Israel procured 40 units through a foreign military sales transaction, the Department of Defense said Wednesday. Contract work