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Lockheed Awarded $831M to Build Lot 14 F-35A CTOL Jets

Jeff Brody

Lockheed Martin (NYSE: LMT) has secured an $831M contract modification from the U.S. Navy to manufacture F-35 aircraft with conventional takeoff-and-landing capability for the Australian government.

The company's aeronautics segment will provide 15 lot 14 F-35A jets and related red gear under the modification, which runs through March 2023, the Department of Defense said Tuesday.

Naval Air Systems Command is the contracting activity and intends to obligate the full value of the modification from non-DoD participant funds at the time of award.

Fifty-nine percent of work will take place in Fort Worth, Texas, and the rest will occur at various locations within the U.S., Italy and the U.K.

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