Lockheed Awarded $472M Navy Contract Modification for F-35 Weapons System Development

Lockheed Martin (NYSE: LMT) has been awarded a $472.5 million contract modification by the U.S. Navy to develop and integrate F-35 aircraft weapons for the British and Italian governments.

The company’s aeronautics segment will support the functional review and development test of three weapons systems on the conventional takeoff-and-landing and short takeoff/vertical landing variants of the fighter platform, the Department of Defense said Monday.

Naval Air Systems Command will obligate $116.5 million at the time of award using non-DOD participant funds.

NAVAIR awarded the company an $83.1 million contract action in November 2018 to build and test dual-capable aircraft capability for the U.S. Air Force’s F-35A.

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