DoD signs off on multiyear procurement plan for F-22

Posted on: Apr. 10th, 2006 || Source: aimpoints.hq.af.mil | E-mail Article | Print Article

WASHINGTON (Dow Jones)--The Defense Department has given permission to start work on a long-term contract with Lockheed Martin Corp. (LMT) and United Technologies Corp. (UTX) for F-22 stealth fighters.

Lockheed Martin makes the new fighter and United Technoligies' Pratt & Whitney unit makes its engines. The Air Force said earlier this year that it expects the contract to come together by spring 2007.

The Pentagon announced Friday that chief weapons buyer Ken Krieg gave permission to move forward on Thursday. The move allows the Air Force to release requests for proposal related to the contract.

Congress will need to sign off on the deal for it to succeed. The Air Force's plan calls for buying about 60 planes over three years, using an incremental funding approach.

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