Lockheed Martin‘s (NYSE: LMT) aeronautics business has received a four-year, $481.9 million delivery order from the Naval Air Systems Command for F-35 initial air vehicle spares.
The U.S. Navy, U.S. Air Force and U.S. Marine Corps, non-Defense Department participants and foreign military sales customers will receive the spares, DoD said Thursday.
Forty percent of purchases are for the three U.S. service branches, 29 percent for non-DoD participants and the remaining 14 percent are for FMS clients.
NAVAIR will obligate the order’s full amount at the time of award and the obligated funds will not expire at the end of the current fiscal year.
The company will perform work through June 2022.