State Dept Clears US’ $130M Lockheed F-16 Upgrade Deal with Singapore

F16FleetLockheed Martin (NYSE: LMT) will modernize Singapore’s F-16 Block 52 aircraft fleet after the State Department approved a potential $130 million foreign military sales agreement.

The proposed FMS deal covers overhaul work on 60 F-16C/D/D+ planes and associated technology such joint helmet-mounted cueing systems, friend or foe devices, global positioning and inertial navigation tools, missile launchers and guided test vehicles, the Defense Security Cooperation Agency said Thursday.

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Singapore believes its F-16 fleet modernization program could help strengthen the country’s ability to safeguard national borders and support coalition operations.

Other principal contractors for the proposed sale are:

  • BAE Systems
  • Boeing (NYSE: BA)
  • ITT Corp. (NYSE: ITT)
  • L-3 Communications (NYSE:LLL)
  • Northrop Grumman (NYSE: NOC)
  • Raytheon (NYSE: RTN)

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