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  • Wednesday, April 24, 2024

Lockheed Secures $578M Contract for F-35 FMS Customer Support

Lockheed Martin (NYSE: LMT) has received a $578.2 million contract modification from the U.S. Navy to provide program management, non-recurring work and training services needed to integrate F-35 aircraft systems for an unnamed international customer.

The Department of Defense said Friday the full obligated amount at the time of award will come from foreign military sales customer funds.

Eighty-five percent of contract work will occur in Fort Worth, Texas, and the remaining 15 percent will be performed in Orlando, Florida, and various locations outside the continental U.S.

DOD expects the company to complete services in March 2030.

The firm-fixed-price modification comes after Lockheed received a $166.6 million contract modification from the Navy to provide, install and configure 22 F-35 aircraft training devices including full-mission simulators, interactive courseware and a multispectral database.

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