Overview
Lockheed Martin Corp. (NYSE:LMT) received two contract modifications from the U.S. Department of War on Wednesday with a combined value of about $868 million. The awards cover continued development work on the TRIDENT II (D5) Life Extension 2 and procurement of modification kits and test equipment for the F-35 Joint Strike Fighter.
TRIDENT II award
The larger of the two actions is an $850.4 million cost-plus-incentive-fee modification to an existing contract for the TRIDENT II (D5) Life Extension 2 SSP Alteration Advanced Design and Development Program. The work will be performed by Lockheed Martin Space in Titusville, Florida, with activity distributed across multiple locations. The company reported that Denver, Colorado will account for 55.20% of the effort and Cape Canaveral, Florida will represent 8.06%.
Work under the TRIDENT II modification is expected to be completed by Sept. 30, 2030. The full value of this contract modification will be funded with fiscal 2026 weapons procurement funds from the Navy, and the award statement specifies that no funds will expire at the end of the current fiscal year. Strategic Systems Programs in Washington, D.C., awarded this modification on a sole source basis under 10 U.S. Code 2304(a)(1).
F-35 modification
Separately, Lockheed Martin Aeronautics Co. in Fort Worth, Texas, received a $17.5 million modification to procure material modification kits along with special test and tooling equipment for the F-35 Joint Strike Fighter program. The award notes the work supports the U.S. Air Force, U.S. Marine Corps, U.S. Navy, Foreign Military Sales, and non-U.S. Department of War participants.
Funding for the F-35 modification will come from a combination of fiscal 2024 and fiscal 2025 aircraft procurement accounts for the Navy and Air Force, together with funds from non-U.S. participants. Work under this modification is expected to be completed in December 2028. Naval Air Systems Command in Patuxent River, Maryland, is listed as the contracting activity.
What this means
These two contract modifications together reinforce continuing program-level investment in strategic weapons systems and joint strike aircraft logistics and support equipment. The TRIDENT II award covers a multi-year advanced design and development effort with specified geographic work distribution, while the F-35 modification focuses on material kits and specialized tooling that support multiple service customers and international participants.