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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9/27/2016 4:02 PM
LMT $245.79 Up +0.26 +0.11%
Lockheed Martin CAPS Rating: ****