Lockheed Martin Receives $111.4 Million Contract Modification for F-22 Raptor Sustainment

News provided by

Aug 24, 2010, 04:06 ET

MARIETTA, Ga., Aug. 24 /PRNewswire-FirstCall/ -- Lockheed Martin Corp. (NYSE: LMT) has received a $111.4 million contract modification from the U.S. Air Force for sustainment of the F-22 Raptor fleet, resulting in a contract value of $709 million. This modification is for the 2010 Follow-On Agile Sustainment for the Raptor (FASTeR) sustainment contract, which was issued initially in 2008 and extended in 2009.

FASTeR is a Performance-Based Logistics contract providing weapon systems sustainment of the F-22 fleet at all operational bases for the 2010 calendar year, including training systems, customer support, integrated support planning, supply chain management, aircraft modifications and heavy maintenance, sustained engineering, support products and systems engineering.

"Our focus in sustaining the F-22 Raptor fleet is total support to our customer by helping enable higher readiness rates, more sorties, faster response and lower life-cycle costs," said Scott Gray, F-22 Program vice president of sustainment for Lockheed Martin. "Our mature supplier base ensures the F-22 receives efficient support anywhere in the world and provides the fastest, most effective link between customer requirements and delivered capability."

F-22 Raptors are assigned to seven U.S. bases. Flight testing takes place at Edwards AFB, Calif. Operational tactics development is ongoing at Nellis AFB, Nev. Pilot training occurs at Tyndall AFB, Fla. Operational F-22 aircraft are assigned to Langley AFB, Va.; Elmendorf AFB, Alaska; Holloman AFB, N.M.; and Hickam AFB, Hawaii.

The world's only operational 5th generation fighter, the F-22 boasts a unique combination of stealth, speed, agility, situational awareness and lethal long-range air-to-air and air-to-ground weaponry to make it the world's best air dominance fighter and to enable it to deter and defeat current and emerging threats. For more information on the F-22, visit www.lockheedmartin.com/products/f22/.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 136,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's 2009 sales from continuing operations were $44.5 billion.

For additional information, visit our website:

http://www.lockheedmartin.com

SOURCE Lockheed Martin