Lockheed Awarded $153M Navy Modification for F-35 Production Support

Lockheed Martin™s aeronautics segment (NYSE: LMT) has secured a $153.4M modification to a contract with the U.S. Navy for F-35 aircraft training and production support services.

The company will deliver test tools and special equipment needed for the low-rate initial production and full-rate production of F-35 Lightning II aircraft, the Department of Defense said Friday.

Naval Air Systems Command will immediately obligate the modification™s full amount that combines funds for fiscal 2018 through 2020 Navy, U.S. Air Force and U.S. Marine Corps aircraft procurement, non-DoD users and foreign military sales customers.

Work will take place in California, Georgia, Montana, New York, Texas, Utah, Vermont, Italy, Norway, the Netherlands and the U.K. through December 2023.

The company received the original $266M contract in September.

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