The Department of Defense awarded nine separate defense contracts Tuesday, worth $1.04 billion in total. The big winner of the day was Lockheed Martin (NYSE:LMT), which took home 33% of the contract wins -- and 84% of the funds on offer.

Lockheed's headline win of the day was a massive $698 million fixed-price-incentive, firm target, advanced acquisition contract to begin procuring long-lead parts, materials, and components needed to build 57 Low-Rate Initial Production, or LRIP, Lot IX F-35 Lightning II Joint Strike Fighters. These will include:

  • 26 F-35A Conventional Takeoff and Landing aircraft, or CTOLs, for the U.S. Air Force.
  • Six F-35B Short Takeoff Vertical Landing aircraft, or STOVLs, for the U.S. Marine Corps.
  • Two F-35C Carrier Variant aircraft for the U.S. Navy.
  • Seven F-35A CTOL aircraft for Israel.
  • Six F-35A CTOL aircraft for Norway.
  • Six F-35B STOVL for the United Kingdom.
  • Two CTOL aircraft for Japan.
  • One F-35A CTOL for Italy.
  • One F-35B STOVL aircraft for Italy. 

These funds should cover Lockheed's work on LRIP Lot IX through May 2015.

Lockheed also won a $93 million option exercise to fund continued work on the Aegis Ashore Missile Defense System to be based in Poland, and to provide multi-year procurement funding for Aegis Weapon System MK 7 equipment sets. This contract will run through September 2021.

And finally, Lockheed won an $84.3 million sole-source, cost-plus-incentive-fee contract funding work on the C-5 Core Mission Computer/Color Weather Radar Engineering, Manufacturing and Development Program for the U.S. Air Force. This contract runs through March 31, 2017.

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