Lockheed Martin awarded $220.7M Navy contract modification regarding F-35 program

Lockheed Martin (NYSE:LMT) Wednesday was awarded a $220.7M modification to a cost-plus-fixed-fee, firm-fixed-price order against a previously issued basic ordering agreement.

This modification exercises options to support calendar year 2024 modification and retrofit activities for the F-35 Joint Strike Fighter program to include program management, non-recurring engineering, aircraft induction, contractor field, depot site, and laser shock peening site support.

Additionally, this modification adds scope for the procurement of material kits as well as special tooling and test equipment necessary to support F-35 Joint Strike Fighter aircraft retrofit and modification efforts.

Work will be performed in Fort Worth, Texas, and is expected to be completed in January 2026.

Additionally, LMT was awarded another $42.04M modification to a previously awarded fixed-price incentive (firm-target) contract which adds scope to procure supplies and support equipment in support of F-35 depot component repair capability activations, associated with the communication, navigation, identification material lay-in.