Hello, Guest!
  • Wednesday, May 1, 2024

Lockheed Martin Gets $736M Modification to Lot 13 F-35 Advance Acquisition Contract


Lockheed Martin (NYSE: LMT) has received a $735.7 million modification to an advance acquisition contract that funds equipment and efforts necessary to build lot 13 F-35 low-rate initial production units for the U.S Air Force, Navy and Marine Corps.

The modification allocates $74.7 million for long-lead time materials, parts, components and support services, and another $660.9 million for lots 13 and 14 F-35 production equipment that completed hardware qualification tests, the Defense Department said Friday.

Work will occur through December 2019 at various locations in Texas, U.K. and Japan.

The three service branches will use fiscal 2018 aircraft procurement funds to cover the full obligated amount at the time of award.

Video of the Day

Related Articles

New Potomac Officers Club Forum to Explore Tech & Cyber’s Impacts on Joint Forces, International Allies Events

New Potomac Officers Club Forum to Explore Tech & Cyber’s Impacts on Joint Forces, International Allies

The U.S. Department of Defense’s messaging on future fights has been clear: if a geopolitical conflict were to arise that necessitated American participation, the country would not go at it alone. Relationships with international allies are crucial today and looking into the future, which is why Potomac Officers Club is holding an event of utmost importance:

DOD Extends Supply Contract With Saab via $105M AT4 & Carl-Gustaf Systems Order Contract Awards

DOD Extends Supply Contract With Saab via $105M AT4 & Carl-Gustaf Systems Order

Saab‘s U.S. business arm has booked a $104 million order to supply the Department of Defense with AT4 anti-tank weapon systems and Carl-Gustaf ammunition between 2024 and 2026. The contract extends an indefinite-delivery/indefinite-quantity framework agreement signed by DOD and Saab in 2019, which could increase in value by $422 million, the company said Monday. DOD

Navy Awards $385M in Contracts to Rolls-Royce, GE for KC-130J Aircraft System Engineering, Logistics Services Contract Awards

Navy Awards $385M in Contracts to Rolls-Royce, GE for KC-130J Aircraft System Engineering, Logistics Services

The U.S. Navy has awarded approximately $385.3 million in two indefinite-delivery/indefinite-quantity contracts for engineering and logistics services in support of KC-130J aerial refueling aircraft systems. Rolls-Royce will sustain and support the tanker’s propulsion system under a $228.1 million firm-fixed-price contract while General Electric‘s aerospace business (NYSE: GE) will work on the KC-130J R391 propeller platform