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

By Rich Smith – Sep 19, 2013 at 10:56AM

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Monies will fund purchase of parts, material and components needed to build jets.

The Department of Defense issued 18 contracts worth a total of $870 million on Wednesday. Among the more interesting contracts awarded, Lockheed Martin (LMT 1.36%) 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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Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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