Lockheed wins F-35 procurement contract

 Defence and Security

Lockheed Martin Aeronautics Company, a key division of Lockheed Martin Corporation, received a modification contract worth $122.1 million from the U.S. Department of Defense (DoD).

This latest contract award entailed the procurement of initial aircraft spares for the F-35 Lightning II Joint Strike Fighter (JSF) aircraft for the U.S. Marine Corps, U.S. Air Force, U.S. Navy and other international partners. Work under this contract is scheduled to complete by Dec 2016.

Development costs for the highly advanced and expensive F-35 JSF program are shared by the U.S. and its allies. As of Dec 31, 2013, the total estimated acquisition cost (the sum of development, procurement, and military construction costs) of the F-35 program was estimated at $323.5 billion. Read complete story at http://www.tendersontime.com/blog-detail/lockheed-wins-f-35-procurement-contract-4.php