Lockheed Wins Potential $900M Air Force F-16 Maintenance & Modification Contract

Lockheed Martin (NYSE: LMT) has won a potential 10-year, $900M contract to establish a depot sustainment facility for the U.S. Air Force's F-16 Fighting Falcon aircraft fleet.

The company will maintain and modify F-16 jets, conduct scheduled inspections, provide field support and address time compliance technical orders, the Department of Defense said Friday.

USAF received four offers for the contract and is obligating $1.4M at the time of award from its fiscal 2021 operation and maintenance funds.

In a separate announcement, Lockheed noted it will perform the services at a company facility in Greenville, South Carolina and has delivered 4,588 F-16s to domestic and international customers to date.

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