Lockheed Secures Groundbreaking $62 Billion Deal for F-16 Fighter Jet Sales
Lockheed Martin Secures Major F-16 Contract
Lockheed Martin Corp., based in Fort Worth, Texas, has been granted an impressive $62 billion ten-year, indefinite-delivery/indefinite-quantity (IDIQ) fixed-price-incentive contract for the production of F-16 Foreign Military Sale (FMS) aircraft.
The first delivery order, amounting to $4,941,105,246, coincides with the contract date.
This initial order encompasses 90 aircraft, which includes pre-priced recurring core configuration costs estimated at $2,862,797,674. Additionally, the engineering change proposal and non-recurring costs are capped at $2,078,307,572, with approximately $1,018,370,710 already obligated.
The extensive work associated with this contract will primarily occur in Greenville, South Carolina, and Fort Worth, Texas, with an anticipated completion date of December 31, 2026.
Notably, this contract represents a 100% Foreign Military Sales initiative to partner nations, stemming from a sole-source acquisition. At the time of the award, $3,881,168,384 in FMS funds is being obligated.
The contracting activity falls under the Air Force Life Cycle Management Center located at Wright-Patterson Air Force Base, Ohio, operating under Basic IDIQ: FA8615-20-D-6052; initial delivery order: FA8615-20-F-0001.
