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Lockheed Books $712M Hardware Delivery Order Under F-35 Tech Refresh Program

Lockheed Martin‘s (NYSE: LMT) aeronautics business has received a $712.4M delivery order from the U.S. Navy to design and develop hardware for the F-35 Technology Refresh 3 system.

The company will support flightworthy certification, production readiness review and fleet release of the system for use in lot 15 fighter jets, the Department of Defense said Thursday.

Work will take place in Fort Worth, Texas, through March 2023.

The Navy, U.S. Marine Corps and non-DoD participants will obligate $207.1M in total funds at the time of award.

Lockheed selected Harris (NYSE: HRS) in September to build an integrated core processor in support of F-35 TR3 modernization efforts. Harris will also provide its Panoramic Cockpit Display Electronic Unit and Aircraft Memory System to the project.

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