Lockheed Awarded $700M for US, Int’l F-35 Parts

F35Lockheed Martin (NYSE: LMT) has been awarded a $698, 032, 385 U.S. Navy contract to gather parts, materials and components for 57 F-35 fighter jets that are being acquired by the U.S. and five international partners.

The fixed-price-incentive, firm target, advanced acquisition contract covers work on low rate initial production lot 9 through May 2015 and the full funding amount is being obligated at the time of award, the Defense Department said Tuesday.

Production orders from Norway, Italy, Israel, Japan and the U.K. are covered under the contract in addition to the U.S. Air Force, Marine Corps and Navy.

The contract supports 26 conventional takeoff and landing variants for the Air Force, six short takeoff vertical landing variants for the Marine Corps and two variants for the Navy.

International partner purchasing details include:

  • seven CTOL planes Israel
  • one CTOL and one STOVL jet for the government of Italy
  • two CTOL planes for Japan
  • six CTOL planes for Norway
  • six STOVL planes for the U.K.

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