Lockheed Martin Lands $744 Million in Defense Contracts Thursday
The Department of Defense announced 37 new defense contracts worth a combined $1.82 billion on Thursday. Many companies won contracts -- but no single company collected more defense contracts, or contracts worth as much, as did Lockheed Martin .
Lockheed won seven separate contracts Thursday -- nearly 20% of the total number awarded -- and their combined value of $744 million amounted to more than 40% of all funds allotted. Lockheed Martin's wins included:
- $232.5 million: a sole-source, firm-fixed price and cost-plus-fixed-fee contract to supply 190 Joint Air-to-Surface Standoff Missile (JASSM) missiles and 40 JASSM Extended Range (ER) missiles to the U.S. Air Force, and to perform related services, all of which work should be completed by Nov. 30, 2016.
- $216.5 million: a separate sole-source, firm-fixed-price and cost-plus-fixed-fee contract to supply USAF with 150 more JASSMs and 60 more JASSM ERs -- also due Nov. 30, 2016.
- $103.9 million: funding a pair of option exercises to supply the U.S. Navy with 36 electronic Consolidated Automated Support System (eCASS) Low-Rate Initial Production units, including eCASS radio frequency systems, self-maintenance and test calibration operational test program sets, calibration equipment kits, shore installation kits, ship installation kits, test program set development environment suites, and installations. All of this is to be supplied by March 2015.
- $84.5 million: a firm-fixed-price, indefinite-delivery/indefinite-quantity contract to supply the U.S. Navy with Enhanced Laser Guided Training Rounds by September 2016.
- $61.1 million: a cost-plus-fixed-fee contract to perform engineering services, and to supply various pieces of low-value missile test hardware in furtherance of Common Missile Compartment (CMC) Strategic Weapon Systems (SWS) integration and design/development for the SWS Ashore Program. This work relates to new systems for carrying Trident II ballistic missiles aboard U.S. Ohio-class and U.K. Successor-class nuclear ballistic missile submarines. The work covered by these two option exercises will continue through Dec. 18, 2018.
- $37.1 million: an option exercise to perform engineering work on computer systems and associated technology for the Aegis Combat System in furtherance of the next/future Advanced Capability Build. This contract runs through December 2014.
- And finally, a contract modification not to exceed $8.8 million in value, to supply the Royal Saudi Air Force with compact multiband data link software and firmware configuration support on the "Sniper" Advanced Targeting Pods (ATP) installed in its F-15SA fighter jets. Delivery date: November 2016.
The article Lockheed Martin Lands $744 Million in Defense Contracts Thursday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.