Lockheed Gets $74M in Navy Contract Modifications for Lots 11, 12 F-35 Parts, Engineering Support

The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) two contract modifications worth approximately $73.9 million combined to provide materials and services to support the low-rate initial production of F-35 Lightning II aircraft.

Lockheed will provide long-lead parts and components for additional five lot 12 F-35B fighter jets under a $43.9 million modification, the Defense Department said Monday.

The Naval Air Systems Command expects work to occur in Texas, California, Florida, Maryland, New Hampshire, U.K. and Japan through December 2017 and will obligate the full contract amount from the U.S. Marine Corps™ aircraft procurement funds for fiscal 2017 at the time of award.

Lockheed will also provide additional hardware assembly and engineering services for the production of lot 11 F-35 jets for the Japanese government under a separate $30 million contract modification and as part of a foreign military sales program.

The company will perform work in Japan and Maryland through December 2018.

The modifications came two months after Lockheed received a $1.38 billion contract to supply long lead parts and components for the 12th batch of F-35s in support of the U.S Air Force, Marine Corps, Navy, non-DoD participants and foreign military sales customers.

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