Lockheed Martin awarded $7.8B Navy contract modification

Lockheed Martin was awarded a $7.8B fixed-price incentive, firm-fixed-fee modification to a previously awarded advanced acquisition contract. This modification exercises options for the production and delivery of 126 Lot 17 F-35 aircraft to include 81 F-35A aircraft; 26 F-35B aircraft and 19 F-35C. Additionally, this modification exercises options to provide for air system diminishing manufacturing sources integration, software data loads, critical safety items, and red gear for the Air Force, Marine Corps, Navy, non-Department of Defense, or DOD, participants, and Foreign Military Sales, or FMS, customers. Work is expected to be completed in August 2026. Fiscal 2023 aircraft procurement funding in the amount $2.56B; FY23 aircraft procurement funds in the amount of $2.41B; FY21 aircraft procurement funds in the amount of $10.67M; FY21 aircraft procurement funds in the amount of $10.67M; FMS customer funds in the amount of $1.5B and non-DOD participant funds in the amount of $1.3B will be obligated at the time of award, $21.33M of which will expire at the end of the current fiscal year. The Naval Air Systems Command is the contracting activity.