Lockheed Martin (NYSE: LMT) has secured a $524.1 million contract modification from the U.S. Navy to obtain long-lead items, components and support services needed to build the 15th and 16th batches of F-35 aircraft for the Italian military.
The procurement funds are for equipment and efforts required for manufacturing 14 units of the aircraft’s conventional takeoff and landing variant and four pieces of the short takeoff/vertical landing version, the Department of Defense said Tuesday.
Lockheed’s aeronautics segment will perform work at various locations within and outside the U.S. through June 2025.
Naval Air Systems Command is the contracting activity and will obligate the full amount of the modification in non-DoD funds at the time of award.
Lockheed was awarded a $368.1 million contract modification in June 2020 to provide five lot 14 F-35 production aircraft to Italy.