Lockheed Lands $68.7 Million in New Pentagon Contracts
The Pentagon has awardedLockheed Martin $68.7 million in new defense contracts. Of the three contracts, the largest is a $50.2 million cost-plus-fixed-fee incrementally funded contract to provide "data transport and telecommunications services" to the U.S. Army through Sept. 30, 2013.
Lockheed's next-biggest award announced this week was an $11.8 million Foreign Military Sales award to provide maintenance and logistics support through June 30, 2015, for six Iraqi aircraft based out of the New al-Muthana Air Base in Baghdad, Iraq.
Finally, Lockheed won $6.7 million for the operational support of two K-MAX Cargo Unmanned Aircraft Systems (UAS) deployed in operational support of the Marine Corps. The K-MAX UAS is an unmanned helicopter built jointly by Lockheed and privately held aerospace firm Kaman Aircraft -- based on a helicopter design that Kaman already builds. The K-MAX is currently being used in small numbers to supply Marine detachments in Afghanistan in a trial run to see how it performs. Lockheed will be working on the instant contract through September 2013.
The article Lockheed Lands $68.7 Million in New Pentagon Contracts 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.