Lockheed Gets $120M Delivery Order Modification for Initial F-35 Air Vehicle Spares

Lockheed Martin (NYSE: LMT) has received a $119.7 million delivery order modification from the U.S. Navy to provide initial air vehicle deployment spares packages for the F-35 program.

The Defense Department said Monday Lockheed’s aeronautics business will deliver the spares in support of the U.S. Air Force‘s F-35 delivery schedules.

DoD noted firm-fixed-price order falls under a basic ordering agreement and work is scheduled to occur through July 2022.

The Air Force will obligate the full amount of the order from its fiscal 2017 aircraft procurement funds.