Lockheed Martin secures $610 million U.S. Navy contract modification

* Lockheed Martin (NYSE:LMT [https://seekingalpha.com/symbol/LMT]) is awarded a $610 million modification to a previously awarded fixed-price incentive, undefinitized, advanced acquisition contract.
* This modification adds scope to procure economic order quantity of materials, parts, and components in support of Lots 20-22 F-35 production aircraft (68 Lot 20 aircraft, 64 Lot 21 aircraft, and 48 Lot 22 aircraft) for F-35 cooperative program partners and Foreign Military Sales (FMS [https://seekingalpha.com/symbol/FMS]) customers.
* Work will be performed Fort Worth, Texas (59%); El Segundo, California (14%); Warton, United Kingdom (9%); Cameri, Italy (4%); Orlando, Florida (4%); Nashua, New Hampshire (3%); Baltimore, Maryland (3%); San Diego, California (2%); and other various locations outside the continental U.S. (2%), and is expected to be completed December 2030.
* This contract was not competed. Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.

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