USA :- Lockheed Martin awarded a $37.7M contract for F-35 software ::
Lockheed Martin has been awarded a modified contract for software conversions for structure and system data sets in support of the F-35 joint strike fighter.
The deal, announced Monday by the Department of Defense, is worth more than $37.7 million and modifies terms under a previous award contract worth $10.7 billion for manufacturing of the F-35 joint strike fighter.
The modified contract, issued by the Naval Systems Command.
Its to exercise an option for software upgrades under a cost-plus-fixed-fee contract, which is a cost-reimbursement deal for Lockheed Martin if additional costs are accumulated while working on the project.
Under these terms, the $37.7 million is a fixed fee that is not adjusted against actual cost but as a change in work performed by the defense contractor.
The F-35 Lightning II 5th generation stealth fighter is slated to replace much of the U.S. fighter fleet, as well as those of many foreign air forces.
The United States is by far the largest customer, with an expected procurement of well over 2,000 aircraft for the Air Force, Navy and Marine Corps.
Foreign customers are also expected to purchase hundreds of them, including key members of NATO.
The work will be performed in Fort Worth, Texas, and Samlebury, England, and is expected to be completed in June 2020.
Fiscal 2016 aircraft procurement funds from the U.S. Navy and Marine Corps, coupled with fiscal 2017 funds from the Navy and U.S. Air Force, and non-DoD participant funds for more than $37.7 million, have been obligated to Lockheed Martin.
More than $7.5 million of the funds will expire at the end of the current fiscal year.