Lockheed Receives $238M Air Force Contract for F-16 Initial Spares

Lockheed Martin‘s (NYSE: LMT) aeronautics division has secured a 10-year, $238 million contract from the U.S. Air Force to supply and deliver F-16 initial spares to foreign military sale customers.

The contract will support new aircraft procurement or major fleet upgrades for the governments of Greece, Jordan, Taiwan, South Korea and Singapore, the Department of Defense said Thursday.

Work will take place in Fort Worth, Texas, through Nov. 7, 2033.

The Air Force Life Cycle Management Center awarded the contract on a sole source basis and is obligating $910,000 in FMS funds at the time of award.

In January, Jordan finalized an agreement with the U.S. government to purchase a dozen units of the Lockheed-manufactured F-16 Block 70 aircraft for its air force.

The State Department also approved Taiwan’s request in August to buy F-16 infrared search and track systems and related equipment under a potential $500 million FMS deal.

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