Lockheed Awarded $245M Joint Strike Fighter Aircraft Support Extension

The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) a $245.4M contract modification to extend the company’s Joint Strike Fighter support services to the U.S. Air Force, Navy, Marine Corps and and non-Department of Defense participants in the JSF aircraft program.

Lockheed’s aeronautics segment will continue software development, sustainment and production efforts and provide developmental flight test support under the modification, the Department of Defense said Thursday.

Forty percent of work will take place at Edwards AF Base in California, and the rest at various locations in Maryland and Texas.

The department noted the amount of initial contract obligations is $13.5M.

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