Lockheed Martin awarded $578.73M Navy contract action

Lockheed Martin (LMT) was awarded an undefinitized contract action with a not-to-exceed value of $578.73M firm-fixed-price order against a previously issued basic ordering agreement. This order procures FY25 F-35 air vehicle initial spares. The subject contract procures basic spares pool and global spares pool spares shared between the customers involved, customer specific afloat spares pool and deployable spares pool, and support labor. These initial spares are necessary to meet immediate maintenance needs and ensure the U.S. services, Collaborative Program Partner nations, and Foreign Military Sales customers have mission capable aircraft. Work will be performed in Fort Worth, Texas and is expected to be completed in June 2030. Naval Air Systems Command is the contracting activity.