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  • Friday, November 15, 2024
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Lockheed Awarded $7.8B Contract Option for Lot 17 F-35 Production, Delivery Services

Lockheed Martin‘s (NYSE: LMT) aeronautics business segment has booked a $7.8 billion contract modification from the U.S. Navy to manufacture 126 F-35 fighter jets for domestic and international military customers.

The award reflects an option for lot 17 production and delivery services covering 81 F-35A, 26 F-35B and 19 F-35C units, the Department of Defense said Friday.

DOD added the company will integrate air system diminishing manufacturing sources and supply software data loads, red gear and safety items as part of exercised options.

Foreign customers under the modification are Belgium, Denmark, Finland, Japan, Italy, Poland and the United Kingdom.

Work will occur at various locations within and outside the continental U.S. through August 2026.

Naval Air Systems Command, which acts as the contracting activity, will obligate $1.5 billion in FMS customer funds and $1.3 billion in non-DOD participant funds at the time of award.

The DOD’s F-35 Joint Program Office finalized a $30 billion F-35 production and delivery agreement with Lockheed in late 2022.

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