Lockheed Martin Awarded $422 Million for More F-35 Fighter Jet Work

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The Department of Defense announced 21 new defense contracts worth $2.96 billion million in aggregate on Thursday. The largest of these contracts -- $872 million worth -- went to a series of federally defined "small businesses" supplying fire and emergency services equipment to the U.S. Army, Navy, Air Force, and Marine Corps. But the contract that Lockheed Martin (NYSE: LMT  ) won for itself wasn't too shabby, either.

Worth $422 million, Lockheed's award was actually a modification of a preexisting contract of even greater size. The new award will pay Lockheed for providing "sustainment" support for F-35 Lightning II stealth fighter jets operated by the U.S. Navy, Marine Corps, and Air Force, and also for foreign buyers of the aircraft: Australia, Canada, Denmark, Italy, the Netherlands, Norway, Turkey, and the United Kingdom.

Lockheed's sustainment activities are to include everything from ground maintenance activities to supply chain management to pilot support and maintenance staff training and will continue through October 2014.

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  • Report this Comment On November 01, 2013, at 1:35 AM, fingerlakes54 wrote:

    Lockheed gets $ 422 million dollars to modify a previous contract for a lot of services for the F-35. The money will also be used to keep these new planes in tip top order in several other countries that bought F-35's. Wow if GM could sell us a car and offer all kinds of service perks like these F-35's get it would be great. You won't get to even ride in these F-35's but you get to pay for it's great service and also to other countries. Seems like we pay for everyone Else's wish list--but we are cutting benefits to US Citizens.

  • Report this Comment On November 01, 2013, at 5:18 AM, cosy4free wrote:

    This is more a hidden troubleshooting - contract then a supplemental service. Both F-35 and weapon systems are acutally not really ready and therefore there is a huge urgent adaptation and update work in progress.

    There's guys saying that F35 is not mature actually.

    Seems to be urgent to support the most expensive flying combat platform on the world.

  • Report this Comment On November 01, 2013, at 9:55 AM, doc7411 wrote:

    And the House is worried about food stamps

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9/23/2016 4:02 PM
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Lockheed Martin CAPS Rating: ****