
The Navy has awarded Lockheed Martin [LMT] a $4.7 billion contract modification to build 78 F-35 Joint Strike Fighters over the next three years. The contract award, announced March 31, includes 48 F-35A aircraft for the Air Force, 14 F-35Bs for the Marine Corps and 16 F-35Cs for the Navy. The funding is split up between the Air Force, which is providing over $2.7 billion in fiscal year 2020 procurement dollars, and the Navy, providing nearly $2 billion. Work is…