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Lockheed Awarded $1.1B Lot 15 F-35 Contract Modification

Lockheed Martin‘s (NYSE: LMT) aeronautics business has received a $1.1 billion contract modification from Naval Air Systems Command to continue lot 15 production of F-35 jets.

This award calls for the company to deliver six units of the fifth-generation aircraft to the U.S. Marine Corps and another 10 to the U.S. Air Force, the Department of Defense said Friday.

The U.S. Navy will obligate $439.9 million for USMC’s portion of contract purchases while USAF will allocate $659.7 million for its procurement under the modification award.

On Sept. 13, Lockheed was awarded a separate $2.01 billion contract for logistics support to F-35 air systems of domestic and foreign military sales customers.

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