Benzinga | Dec 10, 2021 02:28PM EST

Finland Picks Lockheed Martin's F-35 Lightning II As Next Fighter

* Lockheed Martin Corp's (NYSE:LMT) 5th Generation F-35 Lightning II is the aircraft selected by the Finnish Government from HX Fighter Program.

* The Finnish Air Force will receive 64 F-35A multirole stealth fighters, a weapons package, a sustainment solution tailored to Finland's unique security of supply requirements, and a comprehensive training program for an estimated cost of (euro)8.378 billion ($9.44 billion).

* "The F-35 will provide Finnish industries unique digital capabilities that leverage 5th Generation engineering and manufacturing. The production work will continue for more than 20 years, and the F-35 sustainment work will continue into the 2070s," commented Bridget Lauderdale, Lockheed Martin's VP and general manager of the F-35 Program.

* Through indirect industrial participation projects outside of F-35 production, Lockheed Martin will build industry partnerships with Finnish companies and academic institutions that offer opportunities focused on developing and advancing security partnerships far into the future.

* Price Action: LMT shares are trading higher by 0.40% at $344.98 on the last check Friday.