Lockheed Martin awarded $678.44M Navy contract modification

Lockheed Martin (LMT) was awarded a $678.44M modification to a cost-plus-fixed-fee, firm-fixed-price order against a previously awarded basic ordering agreement. This modification adds scope to procure various material modification kits, special test/tooling equipment, and associated seed assets to support the F-35 Joint Strike Fighter aircraft retrofit and modification efforts for the Air Force, Marine Corps, Navy, non-U.S. Department of Defense F-35 program partners, and Foreign Military Sales customers. Work is expected to be completed in December 2028. FY24 aircraft procurement funds in the amount of $163.79M; FY24 aircraft procurement funds in the amount of $163.08M; FY23 aircraft procurement funds in the amount of $22.59M; FY23 aircraft procurement funds in the amount of $20.81M; non-U.S. DOD participant funds in the amount of $281,33M and FMS funds in the amount of $26.84M, will be obligated at the time of award, none of which will expire at the end of the current fiscal year. The order and contract being modified were not competed. Naval Air Systems Command is the contracting activity.