Military and Commercial Technology: Lockheed wins $2.43B F-35 contract modification

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Lockheed wins $2.43B F-35 contract modification - Lockheed Martin Corporation (NYSE:LMT) | Seeking Alpha:

Lockheed Martin (NYSE:LMT) has won a $2.43B modification to its contract for the F-35 fighter program.

That modification comes to a firm-fixed-price, IDIQ contract on the F-35 Lightning II Joint Strike Fighter initial spares, for the Marines, Navy, Air Force, non-DoD participants, and foreign military sales customers.

Orders are expected to be placed no later than December 2020.

Lockheed Martin Corp., Lockheed Martin Aeronautics Co., Fort Worth, Texas, is awarded $2,426,326,544 for modification P00002 to previously awarded firm-fixed-price, indefinite-delivery/indefinite-quantity contract N00019-19-D-0015 F-35 Lightning II Joint Strike Fighter initial spares for the Marine Corps, Navy, Air Force, non-U.S. Department of Defense (DoD) participants, and Foreign Military Sales (FMS) customers. Spares to be procured include global spares packages, base spares packages, deployment spares packages, afloat spares packages and associated consumables. Work will be performed in Fort Worth, Texas (24.4%); El Segundo, California (9.1%); Owego, New York (8.6%); Samlesbury, United Kingdom (7.2%); Cheltenham, United Kingdom (6.2%); Nashua, New Hampshire (5.8%); Torrance, California (5.5%); Orlando, Florida (4.9%); Cedar Rapids, Iowa (3.7%); San Diego, California (3.6%); Phoenix, Arizona (3.1%); Melbourne, Florida (3.1%); Irvine, California (2.5%); North Amityville, New York (2.4%); Windsor Locks, Connecticut (2.2%); Baltimore, Maryland (2.2%); Papendrect, The Netherlands (1.9%); Rolling Meadows, Illinois (1.8%); and Alpharetta, Georgia (1.8%). All orders are expected to be placed no later than December 2020. No funds will be obligated at time of award, funds will be obligated on individual delivery orders as they are issued. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity. Source: defense.gov

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