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Defense giant Lockheed Martin Corp. has received a contract worth $3.48 billion to manufacture 31 F-35 Joint Strike Fighter aircraft for the U.S. and U.K. militaries, the Pentagon announced Nov. 19.
The contract for the Lot IV aircraft will cover the production and delivery of 16 short take-off, vertical-landing (STOVL) F-35B Lightning aircraft for the Marine Corps, four F-35C carrier variants for the Navy, 10 F-35A conventional landing jets for the Air Force and one STOVL aircraft for the British Royal Navy, according to the announcement.
The aircraft would be delivered by March 2013 by Lockheed. The total value of the low rate initial product aircraft is $3.9 billion.
The contract award comes as the Pentagon begins a review of the F-35 program, which has been hit by program delays and cost overruns.
Company officials remained optimistic.
"We are focused on getting fifth generation fighter capability into the hands of U.S. and allied pilots as quickly and as cost-effectively as possible," Larry Lawson, Lockheed Martin executive vice president and F-35 program general manager, said in a statement.
The contract for the Lot IV aircraft will cover the production and delivery of 16 short take-off, vertical-landing (STOVL) F-35B Lightning aircraft for the Marine Corps, four F-35C carrier variants for the Navy, 10 F-35A conventional landing jets for the Air Force and one STOVL aircraft for the British Royal Navy, according to the announcement.
The aircraft would be delivered by March 2013 by Lockheed. The total value of the low rate initial product aircraft is $3.9 billion.
The contract award comes as the Pentagon begins a review of the F-35 program, which has been hit by program delays and cost overruns.
Company officials remained optimistic.
"We are focused on getting fifth generation fighter capability into the hands of U.S. and allied pilots as quickly and as cost-effectively as possible," Larry Lawson, Lockheed Martin executive vice president and F-35 program general manager, said in a statement.
