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Lockheed Wins $7B F-22 Modernization IDIQ

LockheedLogoLockheed Martin (NYSE: LMT) has won a potential $6.9 billion contract to update F-22 fighter jets for the U.S. Air Force.

The company will perform work under the indefinite-delivery/indefinite-quantity contract through Feb. 20, 2023, the Defense Department said Wednesday.

Work will occur in San Diego and El Segundo, Calif.; Scottsdale, Ariz.; Nashua, N.H.; and Wayne, N.J.

Lockheed won the contract through a sole-source acquisition and Wright-Patterson Air Force Base in Ohio, is the contracting activity.

Under a separate $613, 276, 500 award, the company is performing follow-on agile sustainment work for the Air Force’s F-22 Raptor fleet through September 2013.

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