Leidos awarded $987 million contract to support F-16 Foreign Military Sales sustainment

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Dec 19, 2024, 08:00 ET

RESTON, Va., Dec. 19, 2024 /PRNewswire/ -- Leidos (NYSE: LDOS) today announced a new contract to provide critical engineering and sustainment services for Foreign Military Sales (FMS) customers of the U.S. Air Force's F-16 Fighting Falcon. The contract was awarded by the Air Force Life Cycle Management Center, supporting the F-16 System Program Office. The single award, indefinite delivery, indefinite quantity contract has a maximum value of $987 million and 10-year period of performance.

A U.S. Air Force F-16 Fighting Falcon aircraft, assigned to the 122nd Fighter Wing, performs a sortie above the 122nd Fighter Wing in Fort Wayne, Indiana, May 3, 2024. The F-16, originally from Holloman Air Force Base, executed a routine flying pattern for training. (U.S. Air National Guard photo by Airman 1st Class Halley Clark)

"We leveraged our corporate investments in AI and predictive analytics to provide our customer with a data-informed platform to increase efficiency, visibility and accountability," said Roy Stevens, Leidos National Security Sector president. "This win underlines Leidos' commitment to supporting the U.S. Air Force and our allies ensuring high resilience and interoperability."

Under the contract, Leidos will provide post-production support through critical engineering and sustainment services necessary for the continued operation and improvement of the F-16 weapon system. Leidos' Web Based Management System will enable the customer to maintain real-time visibility of repair asset tracking status for the repair and return lifecycle. Leidos' technology is designed to enhance the customer's repair and return process, improve engineering and technical support resolution, and help reduce diminishing manufacturing sources and material shortages.

The F-16 has been procured by over 25 nations around the world, supporting a global fleet size of approximately 2,200 active aircraft.

The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute DoD endorsement.

About Leidos

Leidos is an industry and technology leader serving government and commercial customers with smarter, more efficient digital and mission innovations. Headquartered in Reston, Virginia, with 48,000 global employees, Leidos reported annual revenues of approximately $15.4 billion for the fiscal year ended December 29, 2023. For more information, visit www.Leidos.com.

Certain statements in this announcement constitute "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the "Risk Factors" set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended December 29, 2023, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.