July 10 (UPI) -- Lockheed Martin has been awarded a $5.6 billion contract modification to an existing contract for Lot 11 low-rate acquisition of the F-35 Lightning II fighter.
The contract is for the procurement needs of the the Air Force, Marine Corps, Navy, allied nations and customers under the foreign military sales program, the Department of Defense announced on June 7. It provides for 74 aircraft Fiscal 2017 aircraft, including 48 F-35As for the Air Force, 19 F-35Bs for the Marine Corps, and eight F-35Cs for the Navy and Marine Corps.
The modification includes additional funding for line items already awarded in 2015 and 2016 for the Y.S. services. Work will primarily be carried out in Fort Worth, Texas, El Segundo, Calif., Warton, Britain, Cameri, Italy and other sites across the United States. The work is projected to be finished be December 2020.
Fiscal 2015-17 aircraft procurement funds in the amount of $4.5 billion will be obligated upon award. An additional contract modification that will provide $2.2 billion for 50 F-35s slated for allied and FMS sales is anticipated later this month.
The F-35 is a 5th-generation multi-role stealth fighter that is being acquired by the Air Force, Navy and Marine Corps to replace and supplement much of their air fleets.
Three different variants are being produced to meet the needs of each service, as well as those of international customers, and is expected to enter full service and production over the next several years.