Lockheed, Pentagon Close $8B in F-35 Contracts; Lorraine Martin Comments

F35Lockheed Martin (NYSE: LMT) and the Defense Department have closed on two new contracts worth $7.8 billion for the sixth and seventh batches of F-35 aircraft, Reuters reported Friday.

Andrea Shalal-Esa writes the company received a $4.4 billion order for 36 F-35s and another $3.4 billion order for 35 F-35s.

DoD told Reuters each of the conventional takeoff variants under lot seven would cost $98 million, $5 million less than its price under lot six.

“Working together with the Joint Program Office, our entire industrial team is focused on delivering the F-35’s fifth-generation capabilities to our armed forces and partner nations at a fourth-generation price point, ” said Lorraine Martin, Lockheed Martin F-35 vice president and general manager.

The agency also purchased F-35 engines from United Technologies Corp. (NYSE: UTX) subsidiary Pratt & Whitney.

Reuters reports the Pentagon expects to spend $392 billion on 2, 443 f-35s that are intended to replace the Air Force, Navy and Marine Corps fleets of combat jets.

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Contract Awards

Related Articles

The Ultimate Guide to Winning Government Contracts Let us show you how top executives are winning so you can replicate it