Pentagon signs $5B contract with Lockheed Martin

The US Department of Defense has signed contracts totaling approximately $5 billion with Lockheed Martin, a leading American aerospace and defense manufacturer, for the production, maintenance, modernization, and operation of fifth-generation F-35 fighter jets, Report informs, citing US Department of Defense.

A significant portion of the contract, valued at $3.91 billion, includes the procurement of training systems for piloting these aircraft, testing, production, deployment, modernization, and maintenance of the F-35.

The remaining $1 billion is allocated for the upkeep and development of the F-35’s maintenance facilities, as well as software upgrades for the aircraft.