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Navy Awards Lockheed $211M Modification for F-35 Special Equipment Procurement

Lockheed Martin (NYSE: LMT) has received a $211.2 million contract modification from the U.S. Navy to procure non-recurring special tooling and test equipment needed for current and future production of F-35 aircraft.

The Defense Department said Monday the modification combines purchases from the U.S. Air Force, Marine Corps, Navy, non-DoD participants and foreign military customers.

Lockheed’s aeronautics business will perform work in California, Florida, New Hampshire, Texas, Italy, the U.K. and other locations within and outside of the continental U.S. through May 2021.

The obligated amount of $81.3 million at the time of award is from fiscal 2015 and 2016 Air Force, Marine Corps and Navy aircraft procurement funds along with non-DoD participant and FMS funds.

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