Lockheed to Modernize South Korea F-16s Under $1.2B USAF Foreign Sales Deal

F16FleetThe U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) a potential nine-year, $1.20 billion contract to support modernization of South Korea’s fleet of F-16 Fighting Falcon jets.

Lockheed will perform the F-16 upgrades as part of a foreign military sales agreement between the governments of the U.S. and South Korea, the Defense Department said Friday.

The Air Force Life Cycle Management Center is the contracting activity for the fixed-price-incentive-fee contract and work will occur at a company facility in Fort Worth, Texas through Nov. 15, 2025.

Lockheed’s new F-16V configuration is designed to feature an active electronically scanned array radar, a commercial off-the-shelf avionics subsystem, a large-format display technology and a high-speed data bus.

You may also be interested in...

William Conley CTO Mercury Systems

Mercury Systems’ William Conley Joins NDIA Central Georgia Chapter Board

William Conley, chief technology officer of Mercury Systems (Nasdaq: MRCY), has been named to the board of directors for the National Defense Industrial Association's Central Georgia chapter. He will serve as a board member for a term of up to six years, Mercury Systems said Thursday.

Cloud IT

DHS Posts $3B Data Center, Cloud Solicitation

The Department of Homeland Security has issued a request for proposals for its indefinite-delivery/indefinite-quantity Data Center and Cloud Optimization contract worth potentially $3.35B over 10 years.