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Reports: Lockheed, DoD Reach ‘Handshake’ Deal for 141 Lot 11 F-35s

Lockheed Martin (NYSE: LMT) and the Defense Department have reached a “handshake agreement” for the company to produce 141 F-35 fighter aircraft for the U.S. and foreign partners, Defense News reported Sunday. Ellen Lord, defense undersecretary for acquisition and sustainment, said in a statement the joint program office and Lockheed are …

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Lockheed Lands Potential $84M Navy Contract for Aegis Test Site Operation, Maintenance

Lockheed Martin (NYSE: LMT) has received a potential $84 million contract to provide operation and maintenance support for Aegis development and test sites. Lockheed’s rotary and mission systems business will deliver configuration management, related equipment and supplies, technical engineering, quality and information assurance services for Aegis test sites under the …

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Air Force Awards Lockheed $1.1B F-16 Block 70 FMS Contract

The U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) a potential $1.12 billion contract to build 16 F-16 Block 70 jets for Bahrain’s air force. Lockheed will receive $551,027,050 in foreign military sales funds at the time of award and perform work at the company’s facilities in South Carolina and Texas through …

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Navy Picks 6 Companies for ISR Engineering Support Contracts

Six companies have won separate potential five-year contracts to provide engineering support services for the U.S. Navy’s intelligence, surveillance and reconnaissance platforms. The Space and Naval Warfare Systems Center Pacific in San Diego received eight proposals for the cost-plus-fixed-fee contracts that have a two-year base term and one three-year option, the …

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Perspecta Announces Senior Leadership Team, Board of Directors; Mac Curtis Comments

Perspecta (NYSE: PRSP) has unveiled the members of its senior leadership team and board following its spinoff from DXC Technology (NYSE: DXC) and combination with Vencore and KeyPoint Government Solutions. Mac Curtis, president and CEO of Perspecta, will also serve on the board of the company that started trading Friday on the New …

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PwC: Aerospace & Defense Industry Reported $728B in 2017 Revenue

A new PwC report says the aerospace and defense sector recorded $728 billion in 2017 revenue, reflecting a 4 percent increase from the previous year. PwC reported that A&D companies posted a combined operating profit of $77 billion in 2017 with an on operating margin of 10.6 percent, up from 9.3 percent in …

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Pratt & Whitney Gets $2B Navy Contract Modification for Lot 11 F-35 Propulsion Engines

United Technologies Corp.’s (NYSE: UTX) Pratt & Whitney subsidiary has received a potential three-year, $2 billion contract modification from the U.S. Navy to produce the 11th batch of F135 engines for all three variants of the Lockheed Martin-built (NYSE: LMT) F-35 Lightning II aircraft. Pratt & Whitney said Thursday it will …

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DSA’s Paul Strasser Elected IAC Executive Vice Chair

The American Council for Technology and Industry Advisory Council has announced the election of Paul Strasser, executive vice president of information management solutions group at Data Systems Analysts, as executive vice chair of IAC, effective July 1. Strasser, who currently serves as vice chair for finance at IAC’s executive committee, will …

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Lockheed Lands $558M Navy Contract for Lot 11 F-35 Sustainment Support

Lockheed Martin (NYSE: LMT) has received a potential $558.3 million contract from the U.S. Navy to provide sustainment services to support the low-rate initial production of lot 11 F-35 Lightning II fighter jets. The Defense Department said Thursday the sustainment support contract includes training facilities and devices, Autonomic Logistics Information System software …

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Lockheed Taps BAE for Potential $100M F-35 Electronic Warfare Sustainment Contract

Lockheed Martin (NYSE: LMT) has awarded BAE Systems a potential five-year, $100 million contract to provide sustainment support for electronic warfare platforms aboard the F-35 Lightning II fighter jet. BAE said Tuesday it will oversee the supply chain for the EW suite, manage regional warehouses with on-hand EW component inventories …

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