Hello, Guest!
  • Tuesday, April 30, 2024

Report: Lockheed, DoD Eye Potential $9B Deal on Next F-35 Batch by End of January


Lockheed Martin (NYSE: LMT) and the Defense Department are still in talks and could finalize by the end of January a new contract worth approximately $9 billion that would reduce the price of the next batch of F-35 fighter jets to under $100 million per aircraft, Reuters reported Thursday.

Mike Stone writes sources said the new contract would cover the 10th batch for 90 F-35s.

The news comes a week after Lockheed CEO Marillyn Hewson said in a statement that the company is “close to a deal” on a new F-35 contract that would “significantly” reduce the costs of the fighter jet program and create an additional 1, 800 jobs at its production facility in Fort Worth, Texas.

Hewson also issued a statement in December that she offered President-elect Donald Trump her “personal commitment” to reduce the F-35 program’s cost.

Reuters noted that DoD expects to allocate $391 billion in funds over the next decades to procure 2, 443 of the fighter jets and that Lockheed and its industry partners have started to develop a supply chain that would advance the production line in Texas.

Lockheed works with Northrop Grumman (NYSE: NOC), BAE Systems and United Technologies Corp.‘s (NYSE: UTX) Pratt & Whitney to build the fighter aircraft for the U.S. military and its 10 allies, the report added.

Video of the Day

Related Articles

Lockheed Reports 14% Increase in Q1 2024 Net Sales; Jim Taiclet Offers Update on F-35, Next-Gen Interceptor, LRDR Programs Financial Reports

Lockheed Reports 14% Increase in Q1 2024 Net Sales; Jim Taiclet Offers Update on F-35, Next-Gen Interceptor, LRDR Programs

Lockheed Martin (NYSE: LMT) generated $17.2 billion in net sales during the first quarter of 2024, up 14 percent from the prior-year period’s $15.1 billion, and reported $1.5 billion in Q1 net earnings, or $6.39 per share. The Bethesda, Maryland-based aerospace and defense contractor said Tuesday it returned $1.8 billion in cash to shareholders through

Lockheed Secures $440M Navy Contract Modification for F-35 Site Activation, Sustainment Services Contract Awards

Lockheed Secures $440M Navy Contract Modification for F-35 Site Activation, Sustainment Services

Lockheed Martin (NYSE: LMT) has secured a $439.9 million contract modification from the U.S. Navy to help military services activate sites and carry out initial aircraft sustainment activities for their F-35 aircraft fleet. The modification covers the provision of support equipment, pilot flight equipment, post-ejection survival training material and related services in support of initial

Report: Federal Government Awarded Record $765B in FY 2023 Contracts Contract Awards

Report: Federal Government Awarded Record $765B in FY 2023 Contracts

A HigherGov analysis of government contracting activity showed that federal contracts awarded in fiscal year 2023 reached a record high of $765 billion, reflecting a 9.5 percent growth from FY 2022. The Navy saw the largest jump in contract awards in 2023, recording $154 billion.