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Lockheed Gets $710M Contract Modification for F-35 Production Materials

Lockheed Martin (NYSE: LMT) has been awarded a $709.8M contract modification by Naval Air Systems Command to obtain materials needed for the low-rate initial production of additional F-35 jets for U.S. and foreign military sales customers.

The modification funds material purchases for lot 15 through lot 17 aircraft of the U.S. Air Force, Navy and Marine Corps as well as FMS and non-Department of Defense participants, DoD said Monday.

NAVAIR issued a $172.2M advance acquisition contract in late 2019 for long lead materials, components and production of 28 lot 15 F-35s for the Navy and Marine Corps.

The Pentagon expects work under the modification to conclude by May 2026.

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