Lockheed Gets $107M Navy Contract Modifications for F-35 Logistics, Mgmt Support

F35The U.S. Navy has awarded Lockheed Martin’s (NYSE: LMT) aeronautics business unit two contract modifications worth approximately $107 million combined to provide unit-level augmentation, management and recurring logistics support for F-35 Lightning II.

One potential $60 million contract modification covers action request resolution, ground maintenance, supply chain management, logistics information systems and other services in support of the fighter planes’ delivered aerial systems for various U.S. service branches and foreign military sales clients, the Defense Department said Monday.

Work under this cost-plus-incentive-fee contract will occur in various locations in the U.S. and the U.K., until January 2016.

Lockheed will also provide financial, administrative and technical data and other management support  for lot 9 of the joint strike fighter aircraft under a separate contract worth approximately $47 million, DoD reported.

The contractor is scheduled to complete work on this fixed-price-incentive-firm contract through December 2016.

The Naval Air Systems Command will use the U.S. service branches’ aircraft procurement funds from fiscal 2014 through fiscal 2016, international partner funds and FMS-related funds to cover the full obligated funds, according to DoD.

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