Lockheed Martin secures $10 billion contract modification for C-130J

Investing.com -- Lockheed Martin Corp. (NYSE: LMT) has been awarded a $10 billion contract modification for its C-130J aircraft program, the U.S. Department of War announced Tuesday.

The modification increases the total value of the previously awarded contract from $15 billion to $25 billion. The contract covers C-130J Combined Aircraft Delivery, Development, Integration and Engineering.

Work will be performed at Lockheed Martin's facility in Marietta, Georgia, with completion expected by July 16, 2035. The contract involves Foreign Military Sales to several countries including Egypt, Australia, New Zealand, France, Philippines, Norway, and Germany.

The Air Force Life Cycle Management Center at Wright-Patterson Air Force Base in Ohio is managing the contract. No funding is being obligated at the time of the award, according to the announcement. The Department noted there is known congressional interest related to this modification.

In a separate award, Derco, a Lockheed Martin Company based in Milwaukee, Wisconsin, received a maximum $209,155,768 contract for C-130 weapon system supplies. This was a sole-source acquisition with a five-year base period and one five-year option. The performance completion date is set for Dec. 31, 2030.

The Derco contract will serve the Air Force, Navy and other federal agencies, using fiscal 2026 through 2030 defense appropriated funds and working capital funds. The Defense Logistics Agency Weapons Support in Richmond, Virginia is overseeing this contract.

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