TEL AVIV, April 23 (Reuters) - State-owned Israel Aerospace Industries (IAI) signed a contract with Lockheed Martin to produce wings for the F-35 fighter aircraft with potential sales reaching $2.5 billion.
IAI will begin delivering the F-35 wings in 2015. The contract’s duration is for about 10-15 years, IAI said on Tuesday.
IAI, Israel’s largest aerospace and defence company, and Lockheed Martin recently began assembling an F-35 wing production line with IAI investing in the required systems and technologies.
“This agreement represents an important milestone for IAI and ensures its involvement in the world’s most advanced fighter aircraft,” Joseph Weiss, chief executive of IAI, said.
IAI’s Lahav wing production centre produces wings for Lockheed Martin’s F-16 and the U.S. Air Force T-38 aircraft.