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Lockheed Receives $870M Contract Modification to Expand F-35 Systems Development Work

Lockheed Martin (NYSE: LMT) has been awarded an $869.86 million contract modification by Naval Air Systems Command to expand the company’s capability development support for all three F-35 aircraft variants. 

The company’s aeronautics segment will conduct functional reviews of mission and weapons systems, which include hardware for flight testing activity, the Department of Defense said Friday.

Work also includes development test services for the conventional takeoff and landing, short takeoff/vertical landing and carrier variants of the single-seat military jet platform.

Initial obligated funds amounting to $43.2 million will come from the U.S. Navy, the U.S. Air Force and non-DOD partners.

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