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Lockheed Secures $2B Global F-35 Logistics Support Contract

Lockheed Martin (NYSE: LMT) has secured a $2.01 billion contract to provide logistics support for the F-35 air systems of U.S. and foreign military sales customers as well as non-Department of Defense participants in the fighter aircraft program.

A Lockheed-led industry team will perform ground maintenance work, resolve action requests, maintain an automatic logistics information system, manage the supply chain and support pilot and maintainer training, the Department of Defense said Tuesday.

In a separate announcement, the company noted that the award will cover industry sustainment services through the end of 2021 and is among the annualized deals with the DOD’s F-35 Joint Program Office.

“These contracts represent more than a 30% reduction in cost per flying hour from the 2020 annualized contract, and exemplify the trusted partnership and commitment we share to reduce sustainment costs and increase availability for this unrivaled 5th generation weapon system,” said Bridget Lauderdale, vice president and general manager of  Lockheed’s F-35 program.

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