Lockheed Martin Wins $5.5B For 74 F-35 Fighters, Anticipates $2.2B For 50 More

Lockheed Martin is being awarded a $5.5 billion modification F-35 Lightning II low-rate initial production (LRIP) Lot 11 advance acquisition contract.

An undefinitized not-to-exceed contract modification to fund procurement of 50 F-35 Partner and FMS aircraft for $2.2 billion is anticipated within the month of July 2017, US department of defense said in a statement Friday.

The LRIP 11 contract contains requirements for the Air Force, Marine Corps, Navy, international partner nations, and foreign military sales (FMS) customers. This modification provides for the procurement of 74 fiscal 2017 aircraft, comprised of 48 F-35A aircraft for the Air Force, 18 F-35B aircraft for the Marine Corps, and eight F-35C aircraft for the Navy and Marine Corps.

In addition, this modification adds funding to previously awarded fiscal 2015 and 2016 aircraft contract line item numbers for the U.S. Services. Work is expected to be completed in December 2020.

Fiscal 2015, 2016, and 2017 aircraft procurement (Air Force, Navy, and Marine Corps) funds in the amount of $4,491,634,930 will be obligated at time of award, $275,641,724 of which will expire at the end of the fiscal year. 

This modification combines purchases for the Air Force ($3.4 billion); Navy ($1.4 billion); and the Marine Corps ($704 million).