What Happened
Lockheed Martin Secures Framework For Next Decade Of Fighter Production
The U.S. Department of Defense and Lockheed Martin have reached a framework agreement to secure production and support of the F-35 Lightning II fighter for another decade. The agreement, which covers at least 850 aircraft for the U.S. military, establishes the basis for future contracts and remains subject to multiyear procurement authority and funding from Congress. The deal also includes initial spare parts, modification kits, and ten years of sustainment requirements for the F-35 fleet. According to Air Data News, Lockheed Martin will finance at least $7 billion in initiatives supporting the F-35 program as part of the arrangement.