Pratt & Whitney, a business unit of Raytheon Technologies (NYSE: RTX), has secured a potential $8 billion contract to manufacture engines to power F-35 jets, produced by Lockheed Martin (NYSE: LMT), for U.S. and international defense customers.
The deal covers 15-16 production lots of up to 518 F135 engines and includes a lot 17 lot option for more than 418 units, Pratt & Whitney said Monday.
In June 2022, the U.S. Navy’s Naval Air Systems Command issued a $4.38 billion undefinitized contract action for F-35 propulsion system production and delivery services.
The engine builder will carry out program management and engineering support work as part of the latest award.
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