Lockheed Wins $253 Million in Saudi F-15 Work

On Tuesday, the U.S. Department of Defense announced it has awarded Lockheed Martin (NYSE: LMT  ) a $253.4 million firm-fixed-price contract to modernize F-15SA fighter jets for Saudi Arabia.

The fighters in question are part of a previously announced contract whereby the kingdom ordered 84 new F-15SA fighters from Boeing (NYSE: BA  ) , which builds the plane, and contracted Boeing to furthermore upgrade 70 of its existing F-15Ss to the F-15SA configuration.

Lockheed Martin's part in the program is expected to be complete by June 2020.


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