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Lockheed Gets $361M Navy F-35 Carrier Variant Production Contract

Lockheed Martin (NYSE: LMT) has been awarded a $360.8M contract modification by the U.S. Navy to build four lot 14 production units of the F-35 carrier variant.

The branch will obligate $170M at the time of award from its fiscal 2020 aircraft procurement funds, the Department of Defense said Monday.

DoD expects work under the modification to conclude by May 2023.

The F-35C is designed to operate from a naval aircraft carrier's deck and equipped with fused sensors. The variant can perform catapult launch and fly-in arrestment operations aboard carriers.

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