Lockheed Martin Aeronautics Co. and RTX’s Pratt & Whitney Military Engines received new sustainment contracts for the U.S. Air Force’s F‑35 fighter fleet on March 5, 2026. The awards add to the Department of Defense’s long‑term support program that supplies parts and services for the aircraft.
The Lockheed award was a modification to an existing F‑35 flight‑test support contract valued at $132,919,645. RTX’s award was a modification to a F135 propulsion‑system spares contract, though the value was not disclosed in the public announcement.
Lockheed’s backlog at the end of 2025 was a record $194 billion, not the $179 billion cited in the original article. The backlog represents future revenue that the company can convert over the next 24 months, helping to offset margin compression that has been driven by a $950 million loss on a classified program and rising costs in the F‑35 program.
Jim Taiclet, Lockheed’s Chairman, President and CEO, said, “With a record $194 billion backlog, 6% year‑over‑year sales growth, and free cash flow generation above our prior expectation, 2025 marked a year of unprecedented demand for Lockheed Martin capabilities. This escalating demand for our signature programs and systems has been driven by combat‑proven performance over recent years that has already been again demonstrated in 2026.” The new sustainment contracts reinforce the company’s ability to capitalize on that demand and strengthen its revenue pipeline.
Lockheed delivered a record 191 F‑35s in 2025, exceeding its production goal and clearing a backlog caused by issues with the Technology Refresh 3 upgrade. The company also secured a $12.5 billion contract modification for Lots 18 and 19, covering 148 aircraft with deliveries beginning in 2026.
The F‑35 sustainment program remains a cornerstone of Lockheed’s business, with the Joint Program Office overseeing sustainment and Lockheed responsible for the air vehicle and Pratt & Whitney for the engine. These new contracts underscore the continued confidence of the Pentagon in Lockheed’s delivery capabilities and the importance of the F‑35 fleet to U.S. airpower.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.