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Lockheed Gets $130M Modification for F-35 Pre-Modernization Support

The U.S. Navy has awarded a $130.4M contract modification to Lockheed Martin‘s (NYSE: LMT) aerospace business for decomposition and design efforts in preparation for F-35 Block 4 modernization.

The company will work to help the aircraft meet weapon and air system requirements corresponding to Block 4.1 standard, the Defense Department said Friday.

The Naval Air Systems Command will initially obligate $90.5M combining fiscal 2018 research, development, test and evaluation funds from the Navy, the U.S. Air Force and non-DoD customers.

Work will take place in Fort Worth, Texas through March 2020.

Lockheed received the base pre-modernization contract in April this year.

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