Lockheed Martin (LMT) Awarded $1.2B Contract to Modernize Republic of Korea F-16s

November 21, 2016 10:23 AM EST

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Lockheed Martin (NYSE: LMT) was awarded a $1.2 billion contract to upgrade 134 F-16 aircraft for the Republic of Korea Air Force (ROKAF).

The upgrades are based on the advanced F-16V configuration. Among the enhancements are an Active Electronically Scanned Array (AESA) radar, a modern commercial off-the-shelf (COTS)-based avionics subsystem, a large-format, high-resolution center pedestal display and a high-volume and high-speed data bus.

"We truly appreciate the trust and confidence the Republic of Korea has placed in us with this contract," said Susan Ouzts, vice president of Lockheed Martin's F-16 program. "These upgrades are a critical piece of South Korea's national defense and highlight Lockheed Martin's commitment to the full lifecycle of the F-16, from production to through-life sustainment."

The contract for the ROKAF upgrade is a foreign military sales contract issued by the U.S. Air Force. As Original Equipment Manufacturer (OEM) and design authority of the F-16, Lockheed Martin is uniquely qualified to design, engineer, develop, integrate and sustain a complete F-16 weapons system solution tailored to customer requirements.

The F-16 Fighting Falcon is the world's most successful, combat-proven multi-role fighter with more than 4,570 F-16s delivered. The F-16 currently serves as the workhorse of the fighter fleet for 25 nations around the world.

For additional information, visit our website: lockheedmartin.com/f16



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