Lockheed Awarded Contract for Military Service Branches' F-35 Aircraft Parts

Lockheed Martin (NYSE: LMT) will provide diminishing manufacturing sources parts for the F-35 aircraft production and sustainment under a $79 million cost-plus-fixed-fee contract from the U.S. Navy.

The Department of Defense said Wednesday the procurement will support fighter jets of the Air Force, Marine Corps, Navy, foreign military sales customers and non-DOD participants.

Lockheed Martin Aeronautics will perform contract work at its Fort Worth, Texas, location and will aim to complete deliveries by December 2024.

Naval Air Systems Command, which serves as the contracting activity, will obligate $32.1 million and $17.7 million from the fiscal 2024 aircraft procurement funds of the Air Force and Navy, respectively, $10.9 million from non-DOD participant funds and $14.7 million from FMS customer funds at the time of award.

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