Lockheed Wins F-22 Modification Contract Worth $67.8 Million

Our Bureau
01:23 PM, December 31, 2014
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Lockheed Martin has won a modification contract worth $67.8 million from the US Air Force for providing services on the F-22 aircraft.

The agreement work is expected to be over by 2015 end.

The F-22 is a single-seat, dual-engine, super maneuverable fifth-generation fighter jet that uses stealth technology.

The F-22 was pressed into service in 2005. Since then, the F-22 aircraft has won a decent number of contracts. In Oct 2014, Lockheed won a $486.5 million modification contract for the F-22 jets. Previously, in 2013, it was awarded a $6.9 billion contract by the Pentagon to upgrade F-22 air fighters.

Earlier this month, Lockheed won a $244 million modification contract from the Pentagon to ensure that labor and material costs of 61 units of the C-130J aircraft is reduced through the procurement of raw materials by the company.

In the fourth quarter, the company received sizeable international as well as domestic contracts. The company recently won a contract worth $308.3 million to provide the Taiwan government with 144 Active Electronically Scanned Array radars.

It also secured a contract from the Poland Ministry of Defence to supply joint air-to-surface standoff missiles (“JASSMs”) for its fleet of 48 F-16 fighter jets. The contract is worth $250 million. This deal was approved by the U.S. Congress in Oct 2014.

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