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Lockheed Secures $1.15B Navy Contract Modification for F-35 Site Activation, Hardware Support

Lockheed Martin (NYSE: LMT) has received a potential five-year, $1.15 billion contract modification from the U.S. Navy to help military customers activate F-35 sites and meet hardware requirements.

The modification also covers planning and readiness reviews, contract management and production engineering support services for training device production lines in support of initial aircraft sustainment efforts related to all three F-35 variants, the Department of Defense said Thursday.

The company will provide such services for the U.S. Air Force, Navy, Marine Corps, non-DOD participants and foreign military sales customers and perform work in Florida, Texas and New York through December 2028.

Naval Air Systems Command will obligate funds upon issuance of delivery orders.

The service branch exercised the contract option through an indefinite-delivery/indefinite-quantity contract awarded in November 2022 for F-35 site activation and sustainment services.

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