Lockheed Martin awarded $700.4M Navy contract modification

Lockheed Martin (LMT) was awarded a $700.4M modification to a previously awarded fixed-price incentive, undefinitized, advanced acquisition contract. This modification adds scope to procure long lead material, parts, and components in support of Lots 20 and 21 of F-35 production aircraft for the government of Denmark. Additionally, this modification provides additional funding to previously awarded scope that procures long lead materials, parts, and components in support of Lots 20 and 21 of F-35 production aircraft for F-35 Cooperative Program Partners and Foreign Military Customers. Work is expected to be completed December 2030. F-35 cooperative program partner funds in the amount of $305.9M and Foreign Military Sales customer funds in the amount of $394.5M will be obligated at the time of award, none of which expire at the end of the current fiscal year. This contract was not competed. Naval Air Systems Command is the contracting activity.