Lockheed MartinÂ (NYSE: LMT) has receivedÂ a $372.9 million contract modification from the U.S. NavyÂ to produceÂ F-35A and F-35BÂ variantsÂ and conduct deficiency correction efforts for non-Defense Department participants.
DoD said Monday the modification falls under a previously awarded advance acquisition contract for low-rate initial production of lot 10 F-35s.
The company received aÂ $1.28 billion upfront paymentÂ from the departmentÂ in NovemberÂ to fund the fighter aircraft program’sÂ 10th batch as part of a potential $7.19 billion “undefinitized” contract.
Lockheed’s aeronautics business willÂ perform work under the modification in California, Florida, Maryland, New Hampshire, Texas, Japan and the U.K. through March 2020.
The Naval Air Systems Command obligated $105 million inÂ non-DoD participant fundsÂ at the time of award.