Lockheed Martin has been awarded a contract worth more than $1 billion to buy components for 118 fifth-generation F-35 Lightning II fighter jets for the United States and allies

The U.S. Department of Defense has allocated Lockheed Martin more than $1 billion to supply materials for the production of the fifth generation fighter aircraft F-35 Lightning II.

Here's What We Know

The Pentagon has placed an order for 118 aircraft from Lot 18. To support production, the Defense Department signed a $1,051,400,000 contract with Lockheed Martin to provide production with "parts, materials and components."

We are talking about fighters in three versions: F-35A for the U.S. Air Force, F-35B with vertical takeoff for the U.S. Navy and F-35C with a short takeoff for the Marine Corps. The Lot 18 shipment also includes aircraft for allies.

The contract will run through January 2024. Work will take place in Fort Worth, Texas (57%); El Segundo, California (14%); Warton, UK (9%); Cameri, Italy (4%); Orlando, Florida (4%); Nashua, New Hampshire (3%); Baltimore, Maryland (3%); San Diego, California (2%); Nagoya, Japan (2%); and various locations outside of the continental US (2%).

Source: Pentagon