Lockheed Martin Made Just Over a Billion Dollars With This Latest Sale

Lockheed Martin Made Just Over a Billion Dollars With This Latest Sale

(RightWing.org) – The defense industry is not an inexpensive one by any stretch of the imagination. Companies like Lockheed Martin, General Dynamics, and Northrop Grumman pull in billions of dollars in government contracts to build planes, missiles, submarines, tanks, and just about any other military device imaginable. Lockheed Martin just won another contract that’s sure to keep its payroll moving for a while: a $1 billion contract to build over a hundred F-35 Lightning aircraft.

On Friday, December 23, the Department of Defense announced it awarded a contract of no more than $1,051,400,000 to Lockheed Martin Corp and Lockheed Martin Aeronautics Co. In order to fulfill the agreement, the company must build and deliver 118 F-35 planes to the Air Force, Navy, Marine Corps, and others by January 2024.

Over half of the work will take place in Fort Worth, Texas, with El Segundo, California accounting for 14% of the work. Other states like Florida, New Hampshire, and Maryland will also get smaller portions of the contract. The work will also extend outside the US to workers in Nagoya, Japan and Cameri, Italy.

At the same time, Lockheed also received a $43 million contract modification for building the MH-60R helicopter. These both came after the company got another $431 million contract to produce more High Mobility Artillery Rocket Systems (HIMARS) for the US and its allies. These are just three of the many enormous purchases made by the DOD at the end of 2022.

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