Lockheed Martin awarded $1.14B Navy contract modification

Lockheed Martin (LMT) was awarded a $1.14B modification to a previously awarded fixed-price incentive, undefinitized, advanced acquisition contract. This modification provides additional funding to previously awarded scope to procure long lead materials, parts, and components in support of 65 Lot 20 production aircraft and adds scope to procure long lead materials, parts, and components in support of 133 Lot 21 production aircraft for the Air Force, Navy and Marine Corps, F-35 cooperative program partners, and Foreign Military Sales customers. Work is expected to be completed December 2030. This contract was not competed. Naval Air Systems Command is the contracting activity.