Cigna earnings beat by $0.04, revenue topped estimates
Investing.com -- Lockheed Martin (NYSE:LMT) has secured two military contracts worth a combined $165 million for work related to the F-35 fighter jet program.
The first award is a $92.9 million modification to a previously awarded contract for the procurement of long lead materials, parts, components, and support services for F-35 Lot 21 production aircraft. This contract specifically supports non-U.S. Department of Defense partners and Foreign Military Sales customers.
Work under this contract will be performed across multiple locations, with 59% taking place in Fort Worth, Texas, and the remainder distributed across facilities in California, the United Kingdom (TADAWUL:4280), Italy, Florida, New Hampshire, Maryland, and other international locations. The project is scheduled for completion by May 2031.
The second contract, valued at $72.1 million, tasks Lockheed Martin Aeronautics with providing agile software development to enhance combat data systems for the F-35 Lightning II. This work will support capabilities for the Air Force, Marine Corps, Navy, and non-U.S. Department of Defense partners.
The software development will primarily be conducted in Fort Worth, Texas (90%), with the remaining work at Eglin Air Force Base in Florida. This project has a completion date of December 2028.
Funding for these contracts comes from a combination of Foreign Military Sales, non-U.S. Department of Defense partner funds, and U.S. military research and development allocations. The Naval Air Systems Command in Patuxent River, Maryland, is serving as the contracting authority for both awards.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.