Lockheed Martin awarded $176.2M Air Force contract modification

Lockheed Martin has been awarded a $176.2M firm-fixed-price contract modification to a previously awarded contract for the exercise of options for an additional 61 Lot 8 Long Range Anti-Ship Missiles with containers being produced under the basic contract, and initial spares. The modification brings the total cumulative face value of the contract to $621.38M. Work is expected to be completed by July 18, 2027. Fiscal 2024 U.S. Air Force missile procurement funds in the amount of $78,278,704; and Navy weapons procurement funds in the amount of $97,920,000, are being obligated at time of award. The Air Force Life Cycle Management Center, Eglin Air Force Base, Florida, is the contracting activity.