Lockheed Martin Corp has won a $441.9 million modification to its U.S. Navy F-35 fighter contract, according to the Pentagon. The modification changes an initial low-rate production “advance acquisition” contract to a “cost-plus-incentive-fee/award-fee contract” that compensates a contractor in a way that equals its expenses plus a profit. The stealth-enabled F-35 fighter jet is in the early stages of production.
Lockheed Martin (NYSE: LMT) has received a four-year, $492.1M contract to supply High Mobility Artillery Rocket System launchers, software and associated parts to the U.S. Army.
The U.S. Army has awarded General Atomics a potential two-year, $275M contract to deliver airborne and ground data terminals designed to facilitate satellite communications. The company's aeronautical systems business will also provide program management and equipment maintenance support under the cost-plus-fixed-fee, firm-fixed-price contract, the Department of Defense said Monday.