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Lockheed Martin Moves F-35 Suppliers To Longer Term Contracts

Rich Abott By
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Lockheed Martin Moves F-35 Suppliers To Longer Term Contracts
Aviation Technician 3rd Class Tyler Dean, assigned to the “Argonauts” of Strike Fighter Squadron (VFA) 147, signals to the pilot, Cmdr. Daniel Kitts, after a successful flyover during the change of command ceremony. VFA-147 is the first Navy F-35C carrier variant (CV) operational squadron (Photo: U.S. Navy)

Lockheed Martin [LMT] on Wednesday announced it has moved more F-35 suppliers to longer term contracts and agreements to reduce sustainment cost and enhance supply availability. The company was able to move several contracts with BAE Systems, Northrop Grumman [NOC], and Collins Elbit Vision Systems (CEVS) to Performance Based Logistics (PBL) contracts. CEVS is a joint venture between United Technologies' [UTX] Collins Aerospace segment and Elbit Systems [ESLT]. In moving from annual to multi-year PBL contracts, each company will be allowed…

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