Lockheed Awarded $7.6B Contract Modification for Lot 15 F-35 Production

Lockheed Martin (NYSE: LMT) has secured a $7.63 billion contract modification to continue lot 15 production of F-35 fighter jets and technical hardware for U.S. and international defense customers.

The modification covers the delivery of 129 units of the aircraft’s conventional takeoff and landing, short takeoff/vertical landing and carrier variants to U.S. Navy, Marine Corps and Air Force, as well as non-Department of Defense participants and foreign military sales clients, DOD said Friday.

Lockheed’s aeronautics business will primarily perform work in Fort Worth, Texas, and other locations within and outside the continental U.S.

Naval Air Systems Command is the contracting activity and will obligate the modification amount with fiscal 2020 and 2021 aircraft procurement and non-DoD funds.

The Pentagon expects contractor services to conclude in October 2024.

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