Lockheed Wins $563M for 20 F-16s, Foreign Sales Included

LockheedLogoLockheed Martin (NYSE: LMT) has won a $563 million contract to develop 20 F-16 fighter jets for the U.S. Air Force, the Defense Department said Monday.

The company will also integrate and deliver the Block 52 C and D variant jets, which will support a foreign military sales agreement.

Work will occur in Fort Worth, Texas through Sept. 30, 2014 and Wright-Patterson Air Force Base, Ohio is the contracting activity.

The F-16 has been the subject of several activities on the foreign sales front this year, with the U.S. and Taiwan signing a $1.85 billion agreement in October for upgrades to Taiwan’s fleet and Iraq purchasing 18 of the planes for nearly $200 million.

Lockheed CEO Bob Stevens said last week he believes F-16 demand will continue even with production of the F-35 moving forward (click over to ExecutiveBiz for more on his comments).

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