Lockheed Martin awarded $7.84B Navy contract modification

Lockheed Martin was awarded a $7.84B fixed-price incentive, firm-fixed-price, cost-plus-fixed-fee modification to a previously awarded contract. This modification adds scope to procure 127 F-35 Lot 16 aircraft, to include 89 F-35A aircraft, 23 F-35B aircraft, and 15 F-35C, as well as definitizes a modification in support of F-35 Lot 15 aircraft procurements and associated auxiliary equipment in support of the Joint Strike Fighter program for the Air Force, Navy, Marine Corps, non-U.S. Department of Defense, or DOD, participants, and Foreign Military Sales, or FMS, customers. Work is expected to be completed in August 2026. FY22 aircraft procurement funds in the amount of $2.41B; fiscal 2022 aircraft procurement in the amount of $2.23B will be obligated at time of award, none of which will expire at the end of the current fiscal year. The Naval is the contracting activity.