Lockheed Gets Potential $1.8B Contract to Continue F-35 Block 4 Tech Maturation Work

Lockheed Martin (NYSE: LMT) has secured a potential seven-year, $1.81B contract from the U.S. Navy to continue design and development work on F-35 Block 4 features.

The company will further develop the new aircraft capability under phase 2.3 of F-35 pre-modernization efforts, the Department of Defense said Friday.

Naval Air Systems Command will obligate at the time of award $99M in fiscal 2019 research, development, test and evaluation funds from the Navy, Air Force, Marine Corps and non-DoD participants.

The company will perform work under the cost-plus-incentive-fee and cost-plus-award-fee contract in Fort Worth, Texas, through August 2026.

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