May 29 (UPI) — Lockheed Martin was awarded a contract by the U.S. Navy for services in support of the F-35 Lightning II aircraft.
The contract from Naval Air Systems Command is worth more than $558.2 million under the terms of a cost-plus-incentive-fee, cost-plus-fixed-fee, fixed-price-incentive-firm, firm-fixed-price contract, the Pentagon said last week.
The contract enables Lockheed Martin to provide sustainment support, equipment and training devices and facilities, as well as system hardware and software for the “low-rate initial production Lot 11 F-35 Lightning II aircraft,” in support of Defense Department militaries, foreign military customers and others.
The F-35 Lightning II is a fifth generation, single-engine tactical fighter developed by Lockheed Martin in conjunction with BAE Systems and Northrop Grumman.
Work on the contract will occur in multiple locations across the United States and in the United Kingdom, and is expected to be completed by February 2023.
The total cumulative value of the contract will be obligated to Lockheed at time of award from fiscal 2016, 2017, and 2018 aircraft procurement from the U.S. Air Force, Marine Corps and Navy.
The funds will then be coupled with non-Defense Department participant and foreign military sale funds. More than $19.5 million will expire at the end of the current fiscal year in September, the Pentagon said.
