Home / Contract Awards / Report: Lockheed Closes $7B Deal to Supply 71 F-35s to DoD

Report: Lockheed Closes $7B Deal to Supply 71 F-35s to DoD

lockheed martinLockheed Martin (NYSE: LMT) has secured a $7 billion contract to provide the Defense Department  with 71 F-35 aircraft as part of a potential $392 billion military arms procurement and development program, Reuters reported Monday.

Andrea Shalal-Esa writes news of the deal comes as the armed forces aim to catch up on flight test schedules that would enable the use of new jets for official missions.

An unnamed source with knowledge of the discussions said the contract involves two additional deliveries of 11 war planes to Australia, Italy, Turkey and Britain and 60 for the U.S., according to the article.

Reuters says Lockheed CEO Marillyn Hewson suggested last week that an agreement was expected soon.

Shalal-Esa reports the contract is likely to boost the 15 percent profit Lockheed currently makes from the DoD program.

It also might have a positive impact on Lockheed suppliers such as Northrop Grumman (NYSE: NOC) and BAE Systems, the article added.

Check Also

E-TAS Lands $97M Contract for Technical Support to DOE Portsmouth/Paducah Project Office

Enterprise Technical Assistance Services will provide technical support services to a Department of Energy project office that oversees environmental legacy cleanup efforts at Portsmouth and Paducah uranium enrichment sites under a potential $97.1M contract, according to a FedBizOpps notice posted Thursday.

HPE, NASA Develop ‘Aitken’ Supercomputer to Support Manned Lunar Missions

Hewlett Packard Enterprise (NYSE: HPE) has developed a supercomputer named after astronomer Robert Grant Aitken designed to help NASA’s Ames Research Center run modeling and simulations to support the space agency’s lunar missions.