Navy Awards Lockheed $582M F-35 Air Vehicle Spares Delivery Order

Lockheed Martin (NYSE: LMT) has secured a four-year, $581.8 million delivery order from the U.S. Navy to supply air vehicle initial spares for the F-35 program.

The Defense Department said Friday the order covers F-35 common spares; F-35A, F-35B and F-35C unique spares; aloft spares packages/deployment spares packages and reprogramming lab spares in support of the Navy, Air Force, Marine Corps, non-DoD participants and foreign military sales customers.

Work will occur in Texas, California, New York, New Hampshire, Florida, Iowa, Arizona, Connecticut, Maryland, Illinois, Georgia, U.K. and Netherlands through April 2021.

The Naval Air Systems Command will obligate $580.8 million at the time of the award from the Air Force, Navy and Marine Corps’ fiscal 2015, 2016 and 2017 aircraft procurement funds as well as from non-DoD participant and FMS  funds.

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