U.S. awards defense contract of over $1 billion to Lockheed Martin By Reuters

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U.S. awards defense contract of over $1 billion to Lockheed Martin

Published Dec 23, 2022 06:10PM ET Updated Dec 23, 2022 08:16PM ET

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U.S. awards defense contract of over $1 billion to Lockheed Martin

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By Kanishka Singh

WASHINGTON (Reuters) -The U.S. awarded defense contracts to companies on Friday, including one of over a billion dollars to Lockheed Martin Corp (NYSE:LMT), the Department of Defense said in a statement.

"This contract procures long lead time materials, parts, components, and efforts necessary to maintain on-time production and delivery of 118 Lot 18 aircraft F-35 aircraft for the Air Force, Marine Corps, Navy, non-U.S Department of Defense participants, and Foreign Military Sales customers," the department said on the $1.05 billion Lockheed contract.

Earlier this month, Lockheed Martin received a Defense Department contract worth $431 million to deliver new High Mobility Artillery Rocket Systems (HIMARS) and support services for the U.S. Army and its foreign allies.

Separately, Boeing (NYSE:BA) Co was awarded a $497 million firm-fixed-price contract for CH-47F helicopters, the department said on Friday, adding Dec. 30, 2025, was the estimated contract completion date.

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