Lockheed Martin Awarded $149 Million for F-35 Fighter Jet Work
The Department of Defense issued 27 new contracts Thursday, worth a combined $1.45 billion. Of these, Lockheed Martin won two -- one large, and one small.
Lockheed's larger award, worth $149 million, modifies a previously awarded contract to fund "redesigns and qualification of replacement F-35 Lightning II Joint Strike Fighter Electronic Warfare system components" to protect the plane's supply line against risks from diminishing manufacturing sources for the components. Lockheed will have until March 2018 to complete the redesigns and qualification of the new parts.
Lockheed's smaller award, worth only $12.2 million to the aerospace giant, is a contract award requiring Lockheed to produce five Sniper advanced targeting pod (ATP) target acquisition systems. These pods are destined for the Belgian Air Force. Additionally, Lockheed is to supply the Belgians with eight 1K forward-looking infrared cameras, four two-way data links, a single 1K TV, two pylons, one depot lay-in, 12 retrofit power supplies, and three retrofit 1K TVs; and to assist with integration, training in the use of the equipment, and general program management. The noted items are to be delivered by Oct. 31, 2015.
The article Lockheed Martin Awarded $149 Million for F-35 Fighter Jet Work originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.