Lockheed 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.
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)