Lockheed wins $197 million U.S. Navy F-35 contract

WASHINGTON, May 14 (Reuters) - Lockheed Martin Corp (LMT.N) has won a $197.1 million U.S. Navy contract to start paying for an early batch of F-35 Joint Strike Fighter aircraft for the United States and Britain, the Defense Department said Wednesday.

The contract covers "long lead" materials for eight conventional take-off and landing aircraft for the U.S. Air Force; eight short take-off and vertical landing (STOVL) aircraft for the Marine Corps; and 2 STOVL aircraft for Britain, the department said.

The F-35 program is the most expensive weapons acquisition in history at nearly $299 billion. Three versions are being developed for the Air Force, Marine Corps and Navy, as well as for co-production partners and export sales. Lockheed Martin is the prime contractor. (Reporting by Jim Wolf; Editing by Andre Grenon)