Author: Brenda Marie Rivers|| Date Published: March 24, 2020
United Technologies Corp.’s (NYSE: UTX) Pratt & Whitney subsidiary has received a $193.8M contract from the U.S. Navy to obtain long lead materials needed to build additional F-35 propulsion systems.
The funds will support low-rate initial production of lot 15 F135 engines for fighter aircraft of the Navy, Air Force and Marine Corps as well as non-Department of Defense and foreign military sales customers, the DoD said Monday.
Pratt & Whitney is expected to finish contract work by December 2023.
F135, which is based on the F119-PW-100 engine, powers the conventional and short takeoff-and-landing and carrier-based variants of the fifth-generation combat aircraft.
Lockheed Martin (NYSE: LMT) secured a $172M advance acquisition contract in late 2019 to acquire long-lead materials and components for lot 15 F-35s.
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