Lockheed receives $171M contract for F-35 production

Aug. 1 (UPI) -- Lockheed Martin has received a $171.7 million modification to an existing contract to support redesign of the air system on Lot 11 F-35 Lightning II aircraft.

The modification, announced Tuesday by the Department of Defense, allows for the procurement of diminishing manufacturing sources redesign activities in support of the F-35 Lightning II air system.

Work will be performed in Fort Worth, Texas, and is expected to be completed by January 2024.

Air Force fiscal 2016 aircraft procurement, Navy and Marine Corps fiscal 2018 aircraft procurement and international partner funds in the full amount of the contract has been obligated at time of award, with $68.6 million set to expire at the end of the current fiscal year, the Pentagon said.

The F-35 is a 5th-generation multi-role stealth fighter that is is being acquired by the Air Force, Navy, and Marine Corps to replace and supplement much of their air fleets. Partner nations such as Japan, the United Kingdom, Australia and others are participating in the program.

Three different variants are being produced to meet the needs of each service and international customers, is expected to enter full service and production over the next several years.

The program has been troubled by a long list of delays, software and hardware problems and cost overruns. It is anticipated to serve as the primary U.S. stealth fighter platform, alongside the F-22 Raptor, for decades to come.