Northrop Grumman and Lockheed Martin Win Pentagon Contracts
The Department of Defense awarded only six defense contracts in its Monday evening announcement of contract awards. The total value of contracts awarded was $99.6 million.
Only two publicly traded defense companies won contracts. Northrop Grumman won the day's biggest award, a $52.4 million contract to supply the U.S. Navy with materials and services needed to perform an Equivalent Flight Hours fatigue test to evaluate the accuracy of the estimated service life of the company's E-2D Advanced Hawkeye airborne early-warning aircraft.
Last week, in one of the largest contracts awarded by the Pentagon so far this year, the U.S. Navy modified a production contract with Northrop, instructing the firm to build and deliver to it 25 new full-rate production E-2D Advanced Hawkeyes by August 2021. The instant testing equipment and services contract, in contrast, will run through July 2019.
U.S. Navy E-2D Advanced Hawkeye AEW aircraft taking off from the deck of the aircraft carrier USS Harry S. Truman (CVN 75). Photo: Wikimedia Commons.
Lockheed Martin won a smaller award Monday, a $6.8 million contract modification to perform maintenance on Lot VII F-35 stealth fighter jets for the U.S. Marine Corps, and also for the government of the Netherlands. This work should be completed by March 2015.
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The article Northrop Grumman and Lockheed Martin Win Pentagon Contracts originally appeared on Fool.com.Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple, Lockheed Martin, and Northrop Grumman. 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.