Lockheed Countermissile Contract Value Tops $1.6 Billion

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On Wednesday, the Department of Defense awardedLockheed Martin its second contract so far this month, for work related to Northrop Grumman's Large Aircraft Infrared Countermeasures System, or LAIRCM.

On April 4, the U.S. Air Force awarded Lockheed $7.3 million to incorporate LAIRCM "NexGen Sensors" onto its HC/MC-130J special operations transport aircraft. Now, USAF is adding on a further $9.2 million in the form of a cost-plus-fixed-fee, cost-reimbursable contract to supply LAIRCM countermeasures "kits" for installation on its similar C-130J transport.

Work on this instant contract should be complete by March 31, 2015. In total, the funds awarded to Lockheed under the LAIRCM program have now topped $1.62 billion.

The article Lockheed Countermissile Contract Value Tops $1.6 Billion originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin and Northrop Grumman. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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