Lockheed Martin wins $153.9M F-35 contract modification

Investing.com - Lockheed Martin Corp. (NYSE: LMT) received a $153.9 million contract modification from the U.S. Department of War to procure long-lead materials for F-35 Lightning II aircraft production, the Naval Air Systems Command announced.

The modification adds scope to a previously awarded fixed-price incentive contract to support the production of 11 F-35 aircraft for a Foreign Military Sales customer. Lockheed Martin Aeronautics Co. in Fort Worth, Texas, will perform the work under contract N0001925C0070.

Work will be performed across multiple locations, with Fort Worth accounting for 59% of the effort, followed by El Segundo, California at 14%, and Warton, United Kingdom at 9%. Additional work will take place in Cameri, Italy; Orlando, Florida; Nashua, New Hampshire; Baltimore, Maryland; San Diego, California; and various locations outside the continental U.S.

The contract is expected to be completed in December 2030. Foreign Military Sales funding in the amount of $153.9 million will be obligated at the time of award.

Naval Air Systems Command in Patuxent River, Maryland, serves as the contracting activity. The contract action was not competed.

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