Lockheed Gets $129M F-35 Core Processor Order Modification

Lockheed Martin‘s (NYSE: LMT) aeronautics business has secured a two-year, $129.4 million delivery order modification from the U.S. Navy to perform additional work on the TR-3 integrated core processor and related subsystems for the F-35 program.

The Defense Department said Wednesday work under the modification seeks to address diminishing manufacturing sources challenges in the production of lot 15 F-35s for the U.S. Air Force, Marine Corps, Navy and international customers.

The Naval Air Systems Command will obligate $27 million in fiscal 2017 research, development, test and evaluation funds of the Air Force, Marine Corps and Navy as well as international partner funds.

Contract work will occur in Fort Worth, Texas, through March 2019.

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