Lockheed Martin Awarded $4.8 Billion for F-35 Work

Lockheed Martin last week received $4.8 billion in undefinitized modifications to the previously awarded advance acquisition contract supporting the F-35 strike fighter’s sixth low-rate initial production lot for 31 aircraft. The first agreement provides $3.678 billion for the procurement of 18 Air Force F-35A airplanes, six Marine Corps F-35Bs, and seven Navy F-35Cs, along with associated ancillary mission equipment, according to the Defense Department’s list of major contracts for Dec. 28. The second modification is worth up to $753 million for non-recurring sustainment and logistics support, which includes site stand-up and depot activation activities, states the description in the list. The third contract modification supplies $374 million for the manufacture and delivery of initial spares for the Lot VI jets as well as those subsequently built in Lot VII. The Navy let these contracts. Last month, DOD announced that it had reached an agreement in principle on the final terms of the Lot V LRIP production contract for 32 F-35s.