Lockheed Martin Corp. (NYSE: LMT) has won $251, 905, 940 in two U.S. Navy contract modifications to continue development efforts for the F-35 Joint Strike Fighter program, the Defense Department announced Monday.
The company will receive $237, 740, 000 to increase concurrency caps for implementing government-authorized changes to conventional take-off and landing aircraft and short take-off vertical landing aircraft.
Configuration baseline hardware or software alterations to the U.S. Marine Corps’ and U.K’s STOVL aircraft, U.S. Air Force and the Netherlands’ CTOL aircraft and U.S. Navy carrier-variant aircraft.
Contract funding details include:
- U.S. Navy: $153.2 million
- U.S. Air Force: $69.4 million
- U.K: $8.2 million
- The Netherlands $6.94 million
Contract funds totaling $222.6 million will expire at the end of the current fiscal year.
Lockheed also received $14, 165, 940 to implement design changes for assisting coalition training operations and the Pentagon expects this work to finish in December 2016.
The Naval Air Systems Command in Patuxent River, Md. is the contracting activity.
