May 1, 2023

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Lockheed Martin Corp, a global aerospace and defense company, has announced that it has secured a $7.8 billion contract modification from the U.S. Navy. This modification exercises options for the production and delivery of 126 Lot 17 F-35 aircraft, which includes 81 F-35A aircraft, 26 F-35B aircraft, and 19 F-35C aircraft.

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Production and delivery of aircraft and related services

Under the contract, Lockheed Martin will produce and deliver F-35 aircraft to the Air Force, Marine Corps, Navy, non-Department of Defense participants, and Foreign Military Sales customers. Additionally, the contract exercises options to provide for air system diminishing manufacturing sources integration, software data loads, critical safety items, and red gear.

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HIMARS launchers and GMLRS rockets production contract

In addition to the above contract, Lockheed Martin has secured a $615 million full-rate production contract from the U.S. Army. The contract is for the manufacture of additional HIMARS launchers and associated equipment, which will be built at the company's Precision Fires Center of Excellence in Camden, Arkansas.

Furthermore, the company also secured another contract from the U.S. Army, a not-to-exceed $4.79 billion contract for the manufacture of two full-rate production lots of GMLRS rockets and associated equipment. The contract calls for production and integrated logistics support for the U.S. Army and international partners and is expected to be completed in 2026.

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Members of LevelFields received the alert of this event on May 1, 9:50 AM ET

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