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Lockheed Gets $22.7B Modification on Lot 12 F-35 Aircraft Production, Delivery Contract

Lockheed Martin‘s (NYSE: LMT) aeronautics business has received a $22.71B contract modification to build and deliver 255 lot 12 F-35 aircraft to domestic and international military clients.

The U.S. Navy awarded the modification for the company to manufacture 106 F-35 units for the U.S. military; 89 units for non-Defense Department users; and 60 units for foreign military sales customers, the DoD said Wednesday.

Naval Air Systems Command is the contracting activity and will obligate $6B at the time of award.

Work will occur in Texas, California, Florida, New Hampshire, Italy, the U.K. and other locations beyond the U.S. through March 2023.

The modification amends a previously awarded $1.4B advance acquisition contract that would fund the purchase of F-35 long lead parts.

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