Lockheed Martin awarded $1.05B Navy contract

Lockheed Martin was awarded a not-to-exceed $1.05B fixed-price incentive, undefinitized advanced acquisition contract. This contract procures long lead time materials, parts, components, and efforts necessary to maintain on-time production and delivery of 118 Lot 18 aircraft F-35 aircraft for the Air Force, Marine Corps, Navy, non-U.S Department of Defense, or DOD, participants, and Foreign Military Sales customers. Work is expected to be completed in January 2024. FY23 aircraft procurement funds in the amount of $172M; FY23 aircraft procurement funds in the amount of $289M; FMS customer funds in the amount of $427.2M; and non-U.S. DOD funds in the amount of $163.2M will be obligated at the time of award, none of which will expire at the end of the current fiscal year. This contract was not competitively procured pursuant to 10 U.S. Code 2304. The Naval Air Systems is the contracting activity.