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Pentagon Announces Fourth F-35 LRIP Contract

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Lockheed Martin [LMT] has received a $3.5 billion contract modification from the Defense Department to manufacture 31 F-35 Joint Strike Fighters in the fourth lot of low-rate initial production (LRIP), the department announced on Nov. 19. The contract also funds manufacturing-support equipment, flight test instrumentation and ancillary mission equipment. Including the long-lead funding previously received, the total contract value for LRIP 4 is $3.9 billion. Under the contract, Lockheed Martin will produce 10 F-35A conventional takeoff and landing variants for…

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