Wednesday, March 1, 2017

Lockheed Martin gets $1 billion F-35 support contract

Lockheed Martin has secured a $1 billion contract from the U.S. government and other customers to provide various support services for the F-35 aircraft.

The contract was awarded by the U.S. Air Force, U.S. Navy, U.S. Marine Corps and other governments participating in the foreign military sales program.

Under the agreement, Lockheed Martin will perform several sustainment services for the 5th-generation fighter. Work will include ground maintenance, action request resolution, depot activation, supply chain management and other activities.

Work on the contract will be performed at Lockheed Martin's facilities in Fort Worth, Texas; Orlando, Fla., and other locations. The U.S. Department of Defense expects the work to be complete by December 2017.

The company received $211 million in foreign military sales and fiscal 2017 aircraft procurement and maintenance funds at the time of the award. The Naval Air Systems Command is the contracting activity.

The F-35 Lightning II is a 5th-generation multirole fighter slated to replace several existing variants, including the F-16, F-18 and A-10. Various U.S. allies are also in the process of purchasing or sustaining the jet, including Australia, Israel, Japan, Norway, Turkey, Britain, the Netherlands and Denmark.

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