The Naval Air Systems Command has awarded Lockheed Martin (NYSE: LMT) a $1.3 billion contract modification to deliver 13 F-35 low-rate initial production fighter planes to the U.S. Navy, Marine Corps and Air Force.
The Defense Department said MondayÂ the obligated amount ofÂ $311.9 million at the time of award is from the three service branches’ fiscal 2016 aircraft procurement funds.
The modification covers the delivery of threeÂ F-35A conventional takeoff-and-landing variants for theÂ Air Force, six F-35B short takeoff and landing variants for the Marine Corps and fourÂ F-35C carrier variants for the Navy.
TheÂ award cameÂ after Lockheed received nearly $180 million in contract funds in late March to obtainÂ long-lead-timeÂ items that the company will need to build Â LRIPÂ Lot 11 F-35s.
Lockheed is scheduled to complete work under the contract modification in December 2019.