Lockheed Martin (NYSE:LMT) is awarded a $62B 10-year contract from the U.S. Air Force to produce F-16 fighter jets for sale to foreign countries, the Pentagon announces.

The initial delivery order is for 90 jets and has a total value of more than $4.9B, the Department of Defense says.

Work will be performed primarily in Greenville, S.C., and Fort Worth, Tex., and is expected to be completed by year-end 2026.

The government of Taiwan formally signed an agreement to buy 66 of the latest model F-16s, a move likely to further strain relations between the U.S. and China.

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