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Navy Awards Lockheed Martin $1.3 Billion For F-35 LRIP 11

Pat Host

Monday, May 2nd, 2016

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The Navy on Monday awarded Lockheed Martin [LMT] a $1.3 billion contract modification for F-35 work, according to a Defense Department statement.

The award is a not-to-exceed undefinitized contract modification to the previously awarded low-rate initial production Lot 11 advance acquisition contract. The award provides for the delivery of 13 aircraft.

The F-35 could be an example of a "highly-integrated, dense" weapon system. Photo: Air Force — The F-35 could be an example of a “highly-integrated, dense” weapon system. Photo: Air Force

Work is expected to be completed by December 2019. The F-35 is developed by Lockheed Martin with subcontractors BAE Systems and Northrop Grumman [NOC].

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