"Lockheed Martin Corp., Lockheed Martin Aeronautics Co., Fort Worth, Texas, is being awarded a $5,577,714,486 modification to a previously awarded F-35 Lightning II low-rate initial production acquisition contract," the release said on Friday.
The Defense Department explained the modification provides for the procurement of 74 aircraft. The procured aircraft includes 48 F-35A variant for the Air Force, 18 F-35B variant for the Marine Corps and eight F-35C variant for the Navy and Marine Corps.
The cost for each of the three variants is $3.4 billion for the US Air Force; $1.4 billion for the Navy; and the $704 million for the Marine Corps, according to the release.
Another contract modification to fund a partner, foreign military sales purchase of 50 F-35 aircraft worth $2.2 billion is expected to be announced later in July, the release added.