Lockheed Secures $261M in Additional Lot 17 F-35 Contract Funds

Naval Air Systems Command has awarded an additional $261.4 million to fund Lockheed Martin‘s (NYSE: LMT) preparations for lot 17 F-35 aircraft production.

The Department of Defense said Thursday the company will obtain long-lead-time materials and support services necessary to manufacture nine carrier-based F-35 jets for the U.S. Navy and 15 conventional takeoff-and-landing and short takeoff/vertical landing aircraft units for non-DOD participants in the Joint Strike Fighter program.

NAVAIR will obligate the full amount of the fixed-price incentive modification to Lockheed’s aeronautics segment.

The company received an $847 million contract modification in late December 2021 for 105 lot 17 aircraft procurement efforts.

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