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Investing.com -- Lockheed Martin (NYSE:LMT) Missiles and Fire Control has been awarded a $4.29 billion contract modification for missile production by the U.S. Department of Defense.
The firm-fixed-price modification is for Joint Air-To-Surface Standoff Missile (JASSM) and Long-Range Anti-Ship Missile (LRASM) procurement, covering JASSM Lots 22-26 and LRASM Lots 9-12. This brings the total contract value to $9.49 billion.
Work will be performed in Orlando, Florida and Troy, Alabama, with completion expected by January 31, 2033. The contract includes Foreign Military Sales to Poland, Netherlands, Japan, and Finland.
The funding comes from various sources including Air Force missiles procurement funds from fiscal years 2023 through 2025, Navy weapons procurement funds, and Foreign Military Sales funds totaling approximately $238.9 million.
In a separate award, Lockheed Martin Aeronautics in Fort Worth, Texas received a $578.7 million contract for F-35 air vehicle initial spares. This undefinitized contract action will provide basic and global spares pools shared between customers, as well as customer-specific afloat and deployable spares pools.
The F-35 spares are needed to ensure mission-capable aircraft for U.S. services, program partner nations, and Foreign Military Sales customers. Work will be performed entirely in Fort Worth with completion expected by June 2030.
Funding for the F-35 spares contract comes from various sources including U.S. Air Force, Marine Corps, and Navy procurement funds from fiscal years 2023 through 2025, along with international partner funding of $43.3 million and Foreign Military Sales funds of $241.1 million.
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