Pentagon’s No.1 weapons supplier Lockheed Martin Corp has received a $7 billion U.S. Navy contract modification for delivery of 114 F-35 Lightning II aircraft for Air Force, Marine Corps and Navy.

The F-35 Lightning II Joint Strike Fighter is an advanced jet aircraft used by the Navy, Marine Corps, Air Force, and other 12 nations and counting.  Specifically the modification procures 48 F-35A aircraft for the Air Force, 20 F-35B aircraft for the Marine Corps, nine F-35C aircraft for the Navy.

The contract modification also involves foreign military sales to Norway (12 F-35A), Australia (15 F-35A) and Italy (8 F-35A and 2 F-35B).

The above U.S. aircraft quantities are inclusive of fiscal 2019 (Lot 13) plus up aircraft. In addition, this modification adds scope for the Air System Diminishing Manufacturing Sources integration, software data loads, critical safety items, red gear, non-recurring engineering, recurring engineering and the Joint Strike Fighter Airborne Data Emulator.

The announcement was made as a contract modification, and the initial release of funds is more than $7 billion. The contract is expected to be worth about $34 billion – and lowers the cost per aircraft to around $80 million.

The agreement concludes years of negotiations between DOD and the company, and also guarantees production stability.

The Lockheed Martin’s website said the F-35 strengthens national security, enhances global partnerships and powers economic growth. As the most lethal, survivable and connected fighter jet in the world, the F-35 gives pilots the critical advantage against any adversary, enabling them to execute their mission and come home safe.

Playing a critical role in joint operations, the fighter brings unprecedented situational awareness, information sharing and connectivity to the coalition.