Lockheed Martin wins contract for F-35 logistics
A fighter pilot sits inside the cockpit of a Lockheed Martin F-35A jet before a training flight at Hill Air Force Base in Utah.
Lockheed Martin was awarded a contract valued at $181.2 million by the Naval Air Systems Command to provide logistic services for its F-35 Lightning II aircraft.
The aerospace and defense company with operations in Santa Barbara will conduct ground maintenance, supply chain management, pilot and maintainer training and support and other functions, according to a Dec. 16 news release.
The Air Force, Marine Corps, foreign military sales customers and other participants also purchased goods from the company as part of the contract. Out of the 2,443 F-35 fighter jets targeted for production, Lockheed said it expected to deliver a total of 53 for 2016. The product comprises more than 20 percent of the company’s sales.
Most of the work outlined in the contract will be completed at its Texas facilities, with some work being done in California, Florida, South Carolina and the United Kingdom.
At $252.18, Lockheed shares were up 0.84 percent for Dec. 19, but down 2.86 percent for the week, following a tweet by President-elect Donald Trump challenging the costs of the program. The company remains up more than 16 percent year-to-date
• Contact Marissa Nall at mnall@pacbiztimes.com.
