Lockheed Martin Wins $99 Million More for F-35 Stealth Fighter

The Department of Defense issued 18 contracts worth a total of $870 million on Wednesday. Among the more interesting contracts awarded, Lockheed Martin (NYSE: LMT  ) won an additional $99 million contract for further work on its F-35 Lightning II Joint Strike Fighter.

Lockheed's F-35 in flight. Source: Wikimedia Commons

The awarded contract modification funds the purchase of "long lead-time parts, material and components required" to build 19 conventional takeoff and landing F-35A stealth fighters for the U.S. Air Force. The only fifth-generation fighter jet still in production after cancellation of the F-22 Raptor program, the F-35 is expected to ultimately cost taxpayers -- and pay Lockheed -- as much as $1 trillion over the program's lifetime, and to generate hundreds of millions of dollars more after factoring in foreign military sales.

Lockheed's work on the instant long-lead acquisition contract should be completed in June 2014. 


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Rich Smith

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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10/8/2015 4:01 PM
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Lockheed Martin Co… CAPS Rating: ****