LMT - Lockheed Martin awarded $172.1M contract by U.S. Navy

2023-04-13 17:17:08 ET

• Lockheed Martin ( NYSE: LMT ) was awarded a $172.1M modification order against a previously issued basic ordering agreement.
• The adjustment sets the order and enhances the possibility of providing specialized testing and equipment tools for elevating Block 4 manufacturing capability, while also acquiring material modification kits to eliminate life limits, rectify deficiencies, and retrofit airplanes to incorporate Next Gen Distributed Aperture System hardware and associated Power and Thermal Management System modifications efforts.
• The revisions strengthen F-35 planes for the Air Force, Marine Corps, Navy, Foreign Military Sales stakeholders, and non-U.S. Department of Defense members.
• Work is expected to be completed in December 2030 .

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