Lockheed Secures $348M Contract Funds for F-35 Special Tools, Test Equipment Production

Lockheed Martin (NYSE: LMT) has received a three-year, $348.2M U.S. Navy contract modification to fund the production of special tools and test equipment for lot 12 F-35 jets.

Naval Air Systems Command is obligating the full amount of the modification from Navy, Marine Corps, Air Force and non-Department of Defense partner and foreign military sales funds, DoD said Tuesday.

The Pentagon expects work to be complete by August 2022.

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