tiprankstipranks
Lockheed Martin awarded $320M Navy contract modification
The Fly

Lockheed Martin awarded $320M Navy contract modification

Lockheed Martin was awarded a not-to exceed $320M cost-plus-fixed-fee undefinitized modification to a previously awarded advanced acquisition contract. This modification adds scope to provide non-recurring engineering in support of the production of one F-35A, one F-35B, and one F-35C new flight science test aircraft to replace aging flight science test aircraft for the Air Force, Marine Corps, Navy, and non-U.S. Department of Defense, or DOD, participants. Work is expected to be completed in December 2027. FY22 research, development, test and evaluation funds in the amount of $11.08M; FY22 research, development, test and evaluation funds in the amount of $11.08M and non-U.S. DOD funds in the amount of $4.88M will be obligated at the time of award, $22.17M of which will expire at the end of the current fiscal year. The Naval Air is the contracting activity.

Published first on TheFly

See the top stocks recommended by analysts >>

Read More on LMT:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles