Lockheed Martin Awarded $492.7 Million Modification Contract For F-35

Lockheed Martin Aeronautics, recently inked a modification contract to provide logistics support activities to F-35 Lightning II Joint Strike Fighter jets. The deal has been awarded by the Naval Air Systems Command, Patuxent River, MD.

Valued at $492.7 million, the contract is expected to be completed by December 2022. The latest modification deal includes support services like ground maintenance activities, action request solutions, depot activities, automatic logistics information system operation and maintenance, reliability and maintainability. The services also involve supply-chain management, pilot training, maintainer training and training system sustainment in support of the delivered F-35 Lightning II Joint Strike Fighter aircraft.

The contract will serve the U.S. Navy, Marine Corps, Air Force, Foreign Military Sales customers and non-U.S. Department of Defense participants. The majority of the work related to this deal will be executed in Fort Worth, TX.

The growing importance of the F-35 family of aircraft can be gauged from its worldwide recognition as evident by its eight international program partners — the United States, the United Kingdom, Italy, the Netherlands, Australia, Norway, Denmark and Canada.

The stealth aircraft has six Foreign Military Sales customers procuring and operating the F-35, namely Israel, Japan, South Korea, Poland, Belgium and Singapore. This reflects F-35’s dominancy in the military aircraft arena.

Due to its remarkable features, which are well suited for any military mission, Lockheed Martin continues to witness a steady inflow of orders involving the aircraft. The latest contract win is a testament to that.

Looking ahead, the long-term growth trajectory of F-35 jets remains compelling. LMT anticipates the delivery of the aircraft to increase to 156 by 2023 from 90 as of September 2021. This, in turn, should bolster Lockheed’s future top line.

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