Military and Commercial Technology: Lockheed Martin Corp awarded $90 million to identify and execute cost reduction initiatives for F-35

Royal Netherlands Air Force F-35A Lightning II - Dafydd Phillips

Lockheed Martin Corp., Lockheed Martin Aeronautics Co., Fort Worth, Texas, is awarded a $90,345,180 modification to a previously awarded cost-plus-incentive-fee contract (N00019-17-C-0001). This modification provides for the identification and execution of cost reduction initiatives to reduce the cost of the F-35 Lightning II Air System. Work will be performed in Fort Worth, Texas, and is expected to be completed in June 2022. Fiscal 2017 aircraft procurement (Air Force, Navy, and Marine Corps) funds in the amount of $90,345,180 will be obligated at time of award, all of which will expire at the end of the current fiscal year. This modification combines purchases for the Air Force ($44,929,818; 50 percent); Navy ($26,000,000; 29 percent); and the Marine Corps ($19,415,362; 21 percent). The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.

Source: defense.gov

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