Market Overview

Lockheed Martin Wins $713M Navy Contract For F-35 Technology Upgrade

Related LMT
Lockheed Martin Wins $90M Navy Deal To Support F-35 Program
Rolling Along: Better Than Expected Earnings Continue Driving Market Higher
Barnes Group: Total Return Investment In The Aerospace Business (Seeking Alpha)

Lockheed Martin Corporation's (NYSE: LMT) Aeronautics unit recently secured a contract for developing advanced hardware to support the F-35 Lightning II Technology Refresh 3 (TR3) System. The deal has been awarded by the Naval Air Systems Command, Patuxent River, Maryland.

Valued at $712.5 million, the contract will cater to the U.S. Marine Corps, Navy and non-U.S. Department of Defense (DoD) participants. Under the agreement, the company will design the TR3 System with full flightworthy certification, production readiness review and fleet release to support low-rate initial production of the 15th Lot of F-35 jets.

Work related to the deal is scheduled to be over by March 2023 and will be carried out in Fort Worth, TX.

Related Links:

Boeing Wins $49M Foreign Military Sales Deal To Support Qatar's AH-64E Aircraft

General Dynamics Bath Iron Works Unit Wins $26.5M Contract From Naval Sea Systems Command

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

Posted-In: contributor contributorsNews Contracts


Related Articles (LMT)

View Comments and Join the Discussion!

Huntington Ingalls Wins $229M Navy Deal To Support CVN 80 Program

26 Stocks Moving In Friday's Mid-Day Session