Lockheed awarded $2.9 billion

Lockheed Martin has been awarded a $2.9 billion fixed-price contract by the US Air Force for continued production of F/A-22 aircraft through to November 2007.

"As the Air Force has announced, we have concluded negotiations to produce 24 F/A-22 5th Generation stealth fighter aircraft as previously authorised in the FY-05 Defence Budget," said Larry Lawson, Lockheed Martin executive vice president and F/A-22 program manager.

The new Lot 5 production contract will increase the total number of contracted aircraft to 107. To date, 53 aircraft have been delivered to the US Air Force and 66 have completed final assembly.

The Air Force is flying the F/A-22 Raptor at four bases across the United States and is preparing for Initial Operational Capability in December with the 1st Fighter Wing's 27th Fighter Squadron at Langley Air Force Base, Virginia.

The F/A-22 Raptor is built at Lockheed Martin Aeronautics facilities in Palmdale, California; Meridian, Mississippi.; Marietta, Georgia.; and Fort Worth, Texas, as well as Boeing's plant in Seattle, Washington.