Lockheed Secures $10.9B Air Force F-22 Modernization IDIQ

Lockheed Martin (NYSE: LMT) has received a potential 10-year, $10.86 billion contract to help the U.S. Air Force update and maintain the military service’s F-22 Raptor fighter aircraft.

USAF is procuring modernization hardware kits along with systems upgrade, repair and logistics support services through the Advanced Raptor Enhancement & Sustainment program, the Department of Defense said Friday.

The indefinite-delivery/indefinite-quantity contract covers a five-year base ordering period and a five-year option period.

Work will take place in Fort Worth, Texas, until Oct. 31, 2031, if all options are exercised.

An August presolicitation notice stated that the sole-source ARES award would serve as a follow-on to the Raptor Enhancement, Development and Integration II contract.

The Air Force Life Cycle Management Center obligated $200,000 in research, development, test and evaluation funds for fiscal year 2021 at the time of award.

Lockheed built the F-22 with integrated avionics, electronic warfare and signals intelligence platforms.

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