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Lockheed gets A.F. contract of $2.9 billion for fighter jets

MARIETTA, Ga. (Dow Jones/AP) — Lockheed Martin Corp. said Tuesday it received a $2.9 billion contract from the U.S. Air Force to continue making F/A-22 fighter aircraft.

The pact is in effect through November 2007, the Bethesda, Md., defense and aerospace company said.

Lockheed, with 2004 revenue of $35.53 billion, said the contract will increase its total contracted aircraft to 107.

So far, 53 aircraft have been delivered to the Air Force and 66 have completed final assembly, the company said. The F/A-22 is built at Lockheed factories in Palmdale, Calif., Meridian, Miss., Marietta, Ga., and Fort Worth, Texas, as well as at Boeing Co.'s plant in Seattle.

The F/A-22 Raptor program also includes 1,000 nationwide suppliers and subcontractors in 42 states.

Shares of Lockheed rose 21 cents, or 0.4 percent, to close at $60 on the New York Stock Exchange.