Lockheed Martin awarded a $761 million U.S. defense contract

LootboxPhobia · 2026-03-09T22:31:15+00:00

Lockheed Martin has secured two contracts from the U.S. Department of Defense with a total value of approximately $761 million, including one worth $700.4 million for material procurement related to the F-35 aircraft, expected to be completed by December 2030; and another worth $60.6 million for the maintenance of the Aegis radar system, expected to be completed by March 2031.

LootboxPhobia

2026-03-09 22:31:15

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Investing.com – Lockheed Martin (NYSE:LMT) has received two defense contracts from the U.S. Department of Defense, totaling approximately $761 million.

The larger contract, valued at $700.4 million, was awarded to Lockheed Martin Aeronautics in Fort Worth, Texas. This is an amendment to an existing fixed-price incentive contract to procure long-lead materials, parts, and components for the 20th and 21st lot of F-35 production aircraft. The contract scope includes aircraft for the Danish government, as well as additional funding for F-35 partner nations and foreign military sales customers.

Work under this contract will be performed at multiple locations, with 59% in Fort Worth, Texas; 14% in El Segundo, California; and 9% in Warton, UK. Other locations include Cameri, Italy (4%); Orlando, Florida (4%); Nashua, New Hampshire (3%); Baltimore, Maryland (3%); San Diego, California (2%); and several other sites outside the U.S. (2%). The work is expected to be completed by December 2030.

The contract will be funded with $305.9 million from F-35 partner nation funds and $394.5 million from foreign military sales customers, which will be allocated at the time of award. The Naval Air Systems Command in Patuxent River, Maryland, is the contracting activity.

In a separate contract, Lockheed Martin in Mounds, New Jersey, was awarded $60.6 million for maintenance support of 123 components of the Aegis Combat System SPY-1 radar. This fixed-price contract will be performed entirely in Mounds, New Jersey, with an expected completion date of March 2031.

Funds will not be allocated at the time of contract award for the radar system. Individual delivery orders will be funded using the Navy’s operating funds for the respective fiscal year when issued. The Naval Supply Systems Command Weapon Systems Support in Mechanicsburg, Pennsylvania, is the contracting activity.

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