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Lockheed Martin Wins $250M Deal For F-35 Lightning Program

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Lockheed Martin Corporation (NYSE: LMT)'s Aeronautics business division recently won a $250.4-million modification contract involving pricing for special tooling and special test equipment to support low-rate initial production (LRIP) of the 11th lot of F-35 Lightning II jets. Work related to the deal is expected to get completed by December 2021.

The contract was awarded by the Naval Air Systems Command, Patuxent River, Maryland. It includes 34.5 percent of the work for the U.S. Air Force, 17.9 percent for the U.S. Marine Corps, 16.5 percent for the international partners, 16.5 percent for FMS customers and 14.71 percent for the U.S. Navy. Work related to the deal will be performed in various locations across the United States and the world like Fort Worth, TX; El Segundo, CA; Orlando, FL; and Samlesbury, the U.K.

Lockheed Martin will utilize fiscal 2016 aircraft procurement (Air Force, Marine Corps, and Navy); international partner and foreign military sales funds for completing the task.

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The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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