Lockheed Gets $172M Navy Contract for F-35 Long-Lead Materials Procurement

Jeff Brody

Lockheed Martin’s (NYSE: LMT) aeronautics business has received a potential four-year, $172.2M contract to supply parts and long-lead materials for use in the production of 28 lot 15 F-35 fighter planes for the U.S. Navy and the U.S. Marine Corps.

Work on the fixed-price-incentive-firm contract with the U.S. Navy will occur in California, Florida, Texas, Maryland, New Hampshire and the U.K. through November 2023, the Department of Defense said Tuesday.

Naval Air Systems Command will obligate the full contract amount using aircraft procurement funds for fiscal 2020 at the time of award.

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