Lockheed Secures $70M F-22 Sustainment Contract Modification

Lockheed Martin (NYSE: LMT) has secured a potential $70 million contract modification from the U.S. Air Force to accelerate, stabilize and restore the supply rate of F-22 sustainment efforts.

The Defense Department said Friday the Air Force Life Cycle Management Center will obligate $35 million in fiscal 2017 operations and maintenance funds at the time of award.

Work under the modification will occur in Fort Worth, Texas, through Dec. 31, 2019.

The Air Force awarded a separate $536.4 million modification to Lockheed in October to provide sustainment services for the service branch’s fleet of F-22 Raptors.

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