Hello, Guest!
  • Friday, April 26, 2024

Lockheed Gets $373M Contract Modification to Build F-35 Variants for Non-DoD Participants


Lockheed Martin (NYSE: LMT) has received a $372.9 million contract modification from the U.S. Navy to produce F-35A and F-35B variants 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 a $1.28 billion upfront payment from the department in November to fund the fighter aircraft program’s 10th batch as part of a potential $7.19 billion “undefinitized” contract.

Lockheed’s aeronautics business will 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 in non-DoD participant funds at the time of award.

Video of the Day

Related Articles

Chris Moran: Lockheed’s Venture Arm Backs Small Businesses to Help Address Defense Tech Priorities News

Chris Moran: Lockheed’s Venture Arm Backs Small Businesses to Help Address Defense Tech Priorities

Lockheed Martin‘s (NYSE: LMT) venture capital arm has been expanding its investment scope in the past few years to help small businesses keep up with the volatility of the government contracting industry, Washington Business Journal reported Friday. Chris Moran, vice president and general manager of Lockheed Martin Ventures, told the Washington Business Journal in an

Navy Awards Lockheed $214M IDIQ for Multinational Ship Combat System Engineering Services Contract Awards

Navy Awards Lockheed $214M IDIQ for Multinational Ship Combat System Engineering Services

The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) a $214.5 million contract to conduct initial engineering efforts for international partner vessels equipped with the Aegis combat system. Lockheed’s rotary and mission systems business will help foreign military sales customers assess ship modernization plans and select new weapon capabilities as part of the indefinite-delivery/indefinite-quantity contract, the Department

State Department OKs Potential $700M Missile Sale to Switzerland News

State Department OKs Potential $700M Missile Sale to Switzerland

The State Department has cleared a potential $700 million sale of up to 72 modernized Patriot missile systems and associated equipment to the Swiss government. Lockheed Martin (NYSE: LMT) will serve as the principal contractor on the proposed foreign military sales agreement that will include trainers, skid kits, canister consumables, launcher stations heater controls and