LMT - Lockheed Martin bags $320M Navy contract modification

• Lockheed Martin ( NYSE: LMT ) was awarded a not-to exceed $320M cost-plus-fixed-fee undefinitized modification to a previously awarded advanced acquisition contract.
• The modification adds scope to provide non-recurring engineering in support of the production of one F-35A, one F-35B, and one F-35C new flight science test aircraft to replace aging flight science test aircraft for the Air Force, Marine Corps, Navy, and non-U.S. Department of Defense, or DOD, participants.
• Work is expected to be completed in December 2027.
• FY22 research, development, test and evaluation funds in the amount of $11.08M; FY22 research, development, test and evaluation funds in the amount of $11.08M and non-U.S. DOD funds in the amount of $4.88M will be obligated at the time of award, $22.17M of which will expire at the end of the current fiscal year.
• The Naval Air is the contracting activity.

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