- Lockheed Martin Corp LMT and the F-35 Joint Program Office (JPO) signed the Lightning Air System National Capability Enterprise (LANCE) 23-27 contract in support of the United Kingdom’s F-35 fleet.
- The contract is valued at ~£147 million and will ensure and enhance the availability and capability of the UK F-35 fleet to conduct combat missions worldwide.
- BAE systems BASY will act as Lockheed Martin’s primary subcontractor, providing most of the personnel at Royal Air Force (RAF) Marham and on operational sites as required.
- The contract secures more than 140 UK jobs, mainly at RAF Marham, with additional roles within on-site maintenance teams.
- BAE Systems was awarded US$491 million in contracts from LMT to manufacture advanced Block 4 Electronic Warfare (EW) systems for future Type 17 F-35 Lightning II fighter jets.
- The powerful Block 4 systems will accelerate the delivery of advanced EW capabilities to warfighters by combining customizable hardware and incremental software updates.
- Price promotion: LMT shares closed Monday up 2.94% at $486.62 and BAESY up 1.44% at $50.08.
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