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Navy Awards Lockheed Martin $1.3 Billion For F-35 LRIP 11

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Navy Awards Lockheed Martin $1.3 Billion For F-35 LRIP 11
F-35 developer Lockheed Martin is part of the Aerospace Industries Association (AIA) trade group. Photo: Air Force

The Navy on Monday awarded Lockheed Martin [LMT] a $1.3 billion contract modification for F-35 work, according to a Defense Department statement.The award is a not-to-exceed undefinitized contract modification to the previously awarded low-rate initial production Lot 11 advance acquisition contract. The award provides for the delivery of 13 aircraft.Work is expected to be completed by December 2019. The F-35 is developed by Lockheed Martin with subcontractors BAE Systems and Northrop Grumman [NOC].

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