Lockheed Lands $258M Contract Modification for Lot 10 F-35 Pilot Flight Equipment

Lockheed Martin (NYSE: LMT) has received a potential three-year, $257.8 million contract modification from the U.S. Navy to supply alternate mission tools, pilot flight equipment and red gear to support the low rate initial production of lot 10 F-35 Lightning II fighter jets.

The firm-fixed-price modification covers purchases from the Navy, U.S. Air Force, U.S. Marine Corps, foreign military sales customers and international partners, the Defense Department said Wednesday.

Work will occur in California, New York, Florida and Texas through June 2020.

The Naval Air Systems Command will obligate the modification™s full amount from the service branches™ fiscal 2016 aircraft procurement funds as well as FMS and international partner funds.

The award came two months after Lockheed secured a $372.9 million contract modification for the production of F-35A and F-35B variants and another $422.7 million modification to supply test equipment and tools for lot 10 F-35s.

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