Lockheed Wins $386M for F-35 Air Systems Support

Lockheed Martin (NYSE: LMT) has won a $386, 694, 924 contract modification to provide the U.S. Navy sustainment support services for the F-35 fighter jet’s air systems.

The Defense Department said this award covers delivered systems under low rate initial production lot six of the program.

Lockheed and the Pentagon have agreed in principle on a deal for the fifth batch of F-35 jets, which the company started producing last year (click here for our coverage of that deal).

Under the recent modification, company will conduct ground maintenance, respond to action requests, activate depots, operate and maintain logistics information, implement and support jet health management and manage the supply chain.

Lockheed will also provide pilots and maintenance workers initial training, spares and depot level repairs for flight operations.

The Navy is obligating $193, 340, 487 in funds at the time of award, of which $58, 378, 517 will expire at the end of current fiscal year.

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