U.S. defense contractor Lockheed Martin Corporation has agreed to pay $29.74 million to settle allegations of defective pricing on contracts for F-35 military aircraft, the U.S. Justice Department said on Thursday.

Lockheed Martin Corporation LMT recently clinched a contract involving submarines. The award has been offered by the Naval Sea Systems Command, Washington, D.C. Details of LMT's Deal Valued at $23.5 million,

The company also will be building a $140 million, 225,000-square-foot advanced manufacturing facility in Titusville for the project