Lockheed Martin awarded $238M Navy contract modification

Lockheed Martin (LMT) was awarded a not-to-exceed $238M undefinitized modification to a previously awarded fixed-price incentive contract. This modification adds scope to procure long lead materials, parts, components, and associated support in support of the F-35 Lot 20 production aircraft for non-U.S. Department of Defense partners and Foreign Military Sales customers. Work is expected to be completed May 2031. FMS customer funds in the amount of $186.8M and non-U.S. DOD partner funds in the amount of $51.2M will be obligated at the time of award, none of which expire at the end of the current fiscal year. This contract was not competed. Naval Air Systems Command is the contracting activity.