Sniper ATP on a U.S. Air Force F-16. Photo: U.S. Air Force.
The Air Force on Tuesday awarded Lockheed Martin [LMT] a $914 million fixed-price incentive and cost-plus contract to upgrade Singapore’s F-16 fleet, according to a Defense Department statement.
Work is expected to be complete by June 30, 2023. The contract is 100 percent foreign military sale (FMS). It was also a sole source acquisition.
The F-16 is developed by Lockheed Martin.