Lockheed Martin Corp. ‘s (LMT) business unit, Aeronautics, won a $19.8 million contract modification for work on the F-35 aircraft memory system and panoramic cockpit display.
This will help recover diminishing manufacturing sources projected under the 15th Lot production of the F-35 aircraft, reports Nasdaq.com.
Lockheed’s F-35 Lightning II, a single-seat, single-engine 5th Generation fighter, has three variants that are to replace five fighter jets in the U.S. Air Force, Navy and Marine Corps, and in at least ten other countries as well. The new F-35 is equipped with an advanced stealth feature, enhanced fighter speed and agility, fully fused sensor information, network-enabled operations and advanced sustainment. The F-35 has the world’s most powerful engine.
Although Lockheed Martin is the main contract holder, several other companies assist with key components of the F-35 program. Northrup Grumman Corp. (NOC) contributes carrier aircraft and stealth technology to the F-35 program, and BAE Systems assists with short takeoff/vertical landing experience and air systems sustainment; Pratt & Whitney, a unit of United Technologies Corporation (UTX ) contributes the propulsion system.
This contract modification will use fiscal 2016 research, development from the U.S. military branches as well as funds from international partners.
In February, Lockheed won an $8.5 billion DOD contract for the production of 90 F-35 fighters, the tenth installment at the lowest price to date, reports Nasdaq.com.