Kongsberg's Stock Performance#
Kongsberg Defence & Aerospace saw its shares rise by 3.5% following the announcement of a significant agreement with Lockheed Martin. This deal is valued at NOK2 billion, which is approximately $200 million, and involves the delivery of components for the F-35 fighter aircraft.
Details of the Agreement#
The agreement will enable Kongsberg to continue its production of essential components for all three variants of the F-35 fighter jet. Specifically, the company will manufacture rudders, vertical leading edges, and main landing gear closeout panels. These components are crucial for the aircraft's performance and safety.
Supporting the F-35 Program#
This production will contribute to the F-35 Joint Strike Fighter program, particularly for lots 20-22. "Lots" refer to batches of aircraft being produced, and this deal ensures that Kongsberg will play a vital role in the ongoing development and supply chain of this advanced military aircraft through 2030.