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  • Wednesday, April 24, 2024

Lockheed Awarded $373M Navy Contract Modification for F-35 Equipment, Spares

Lockheed Martin (NYSE: LMT) has secured a $372.5 million contract modification for the delivery of lots 15 and 16 of F-35 Lightning II aircraft‘s ancillary mission equipment requirements to the U.S. Air Force, Navy and Marine Corps.

The Navy award also provides for the fighter jet’s initial spares in support of military customers, non-Department of Defense participants and foreign allies, the DOD said Thursday.

The modification is for an order awarded against a previously announced basic ordering agreement. Work under it will run through December 2024.

Lockheed’s aeronautics business will perform contract modification activities at its Fort Worth, Texas, location.

The Navy will obligate $178 million from its aircraft procurement funds in fiscal 2020 to 2022 at the time of award. Air Force and FMS allocations will also be used for the contract modification.

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