Lockheed Martin's (NYSE: LMT) aeronautics segment has received a one-year, $96.5M contract modification from the U.S. Navy to perform F-35 aircraft modification and reachback engineering work.
The service branch exercised options for the company to help modify air vehicles at depot sites under the Joint Strike Fighter program, the Department of Defense said Wednesday.
The company will receive the full amount at the time of award from Navy and U.S. Air Force aircraft procurement; foreign military sales; and non-DOD participant funds.
