Lockheed Awarded $368M to Build F-35 CTOL, STOVL Jets for Italy

Lockheed Martin (NYSE: LMT) has received a four-year, $368.1M contract modification from the U.S. Navy to manufacture five units of the F-35 conventional takeoff and landing variant and one piece of the short takeoff/vertical landing version for the Italian military.

The modification covers production lot 14 fighter jets along with associated gear and provides authorization for common capability work at a Cameri, Italy-based final assembly and checkout facility, the Department of Defense said Thursday.

The company's aeronautics segment will initially receive $184.4M in non-DoD funds and is expected to finish work by June 2023.

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