- Lockheed Martin Corporation (NYSE: LMT) announced this week that it has signed a couple of major contracts. These are the details.
Lockheed Martin Corporation (NYSE: LMT) announced this week that it has signed a couple of major contracts. This includes a $1.28 billion F-35 contract and a $4.9 billion space vehicle contract.
$1.28 Billion F-35 Sustainment Contract
The F-35 Joint Program Office has awarded the Lockheed Martin industry team a $1.28 billion Undefinitized Contract Action (UCA) to support operations and sustainment of the global F-35 fleet through June 30, 2021. This will support operations and sustainment of the global F-35 fleet through June 30, 2021.
“This contract ensures F-35s remain ready to fly and accomplish the warfighter’s mission,” said Lockheed Martin F-35 program acting vice president and general manager Bill Brotherton. “We continue to see improvements in readiness and cost, and as the fleet grows, so does the opportunity for the joint government and industry team to collaborate, realizing even more long-term benefits.”
The UCA is known for providing initial critical sustainment activities for a worldwide fleet while negotiations continue on a long-term contract to build enterprise capacity and affordability to support the future fleet of more than 3,000 F-35 aircraft. And the UCA funds industry sustainment experts supporting operations worldwide, individual bases, depot maintenance, pilot and maintainer training, and sustainment engineering across the globe. Plus it also covers fleet-wide data analytics and supply chain management for part repair and replenishment to enhance overall supply availability.
Lockheed Martin and its industry teammates BAE Systems and Northrop Grumman provide critical sustainment support for over 600 aircraft in key areas such as training, base operations, repairs, global supply, and sustainment support to F-35 customers. And while many think of sustainment as all of the activity after aircraft delivery, it begins the moment a requirement is written and design starts. The fifth generation F-35 was designed and produced with mission readiness and the warfighter’s success in mind.
Over 600 F-35 aircraft have been delivered and are operating from 26 bases around the globe. And more than 1,200 pilots and 10,000 maintainers have been trained and the F-35 fleet has surpassed more than 345,000 cumulative flight hours.
$4.9 Billion Space Vehicle Contract
The Space Systems division at Lockheed Martin recently secured a $4.93 billion modification contract for the manufacturing and delivery of 3 Next-Generation Geosynchronous (NGG) Earth-orbiting space vehicles (SVs). This contract was specifically awarded to the Space and Missile Systems Center, Los Angeles Air Force Base, CA.
As part of the deal, Lockheed Martin is going to assemble and test the 3 NGG Earth-orbiting space vehicles before delivering them to the Los Angeles Air Force Base. And Lockheed Martin’s Space Systems division is also going to deliver ground mission unique software and ground sensor processing software. Plus Lockheed Martin will also provide engineering support services for launch vehicle integration and early on-orbit checkout for the 3 NGG SVs.