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  • Friday, April 26, 2024

Lockheed Secures $7B Air Force F-22 Sustainment IDIQ Option


Jeff Brody

Lockheed Martin‘s (NYSE: LMT) aeronautics business segment has received a potential 13-year, $7B contract modification to continue sustainment work on the U.S. Air Force’s fleet of F-22 Raptor jets.

The service branch exercised a five-year option under a previously issued indefinite-delivery/indefinite-quantity contract for aircraft sustainment services, the Department of Defense said Friday.

Locations of work include Joint Base Elmendorf-Richardson in Alaska, Nellis AF Base in Nevada, Tyndall AFB in Florida, Joint Base Langley-Eustis in Virginia and Joint Base Pearl Harbor-Hickam in Hawaii.

The company will also perform services at various support locations across the U.S. and designated overseas sites.

DoD expects contract work to finish by Dec. 31, 2032.

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